Narryer Metals' aircore drilling program at Rocky Gully project

Narryer Metals Limited (ASX:NYM) has initiated an aircore drilling program at the Rocky Gully project in Western Australia to explore Rare Earth Elements (REE) and high-value scandium mineralisation. The program aims to target shallow depths and coincides with an identified magnetic low/gravity high target area, indicating the potential for a carbonatite/alkaline complex. The program will be followed by an RC drill program in October to test deeper geophysical anomalies.

Executive Chairman Richard Bevan's perspective on the exploration program

This is a great exploration opportunity for the Company that is the result of work undertaken over the past 18 months as we pursued our primary Lithium exploration projects in Canada. We now have an opportunity where a relatively modest program could realise significant value for shareholders through extensions of REE and Scandium mineralisation at Rocky Gully. REE carbonatites can be very high value deposits and Scandium has gained profile in recent times, both in the media and amongst explorations companies as the markets for this metal grow. The initial aircore program will test extensions of the known high-grade scandium mineralisation and clay hosted REE's. The subsequent RC drilling program will test the EM anomalies that are modelled as the primary source of the REE carbonatite system. The new geophysical carbonatite targets are similar to those that realised successful discoveries by WA1 Resources and Encounter Resources.

Exploration outlook and potential value of the project

Narryer Metals' aircore drilling program at the Rocky Gully project in Western Australia marks a significant step in the exploration for REE and scandium mineralisation. The company's focus on identifying high-grade scandium mineralisation and the potential for a laterite-hosted scandium deposit demonstrates its commitment to unlocking the project's value. With the increasing market for scandium and the potential for a multi-commodity deposit, the project holds promise for significant economic value. The identification of carbonatite intrusive rocks, REE mineralisation, and geophysical anomalism further underpin the potential of the Rocky Gully project. Narryer's strategic exploration approach and the upcoming RC drilling program reflect the company's ambitions to capitalize on the growing market demand for critical minerals, positioning itself for potential success in the exploration and development of the Rocky Gully project.