Rocky Gully Project

REE

Overview

Albany-Fraser Belt
NYM is exploring this region for critical minerals with evidence of potential carbonatite system.

Rocky Gully

The Rocky Gully Project consist of two tenements over an area of 79 km2, located 43 km west of Mt Barker, Western Australia and located within the Albany-Frazer Province. Narryer identified the project for REE, Sc and N-Cu-PGE prospectivity.

Narryer has identified the potential for a REE hosted carbonatite complex and confirms early work by Herron Resources in 2010 which also suggested carbonatites are present at Rocky Gully. The current demand for critical minerals has increased the significance of these earlier findings, with Narryer developing an exploration model to test the target area.

Narryer Metals is looking to enter Western Australia’s rare earth element pedigree, having unearthed evidence that its Rocky Gully Project could be home to an extensive high-value carbonatite complex.

The initial focus at Rocky Gully was on potential REE in regolith clays discovered in historic drilling at the Ivar Prospect, but the Company now believes a much bigger prize is on hand.

Geological analysis identified carbonatite intrusive rocks from historical drilling samples which also showed anomalous REE grades up to 0.5% TREO, magnetite, sulphur and potassium in walk rock alteration, with geophysics modelling identifying a pipe-like body with a related alteration.

The Company has completed gravity and ground magnetic surveys in 2023. Furthermore, EIS funded drilling completed in 2024 to examine the mineralised system.

The goal of the Company’s exploration strategy is to determine the style of REE mineralisation, among other minerals, as either magmatic or hydrothermal in nature, with geological and geochemical assessment also taking place to assess potential fenitisation-type alteration haloes.

Carbonatite complexes have shown a high amount of exploration success for REEs, especially in Western Australia, with the state being home to both the 55 Mt @ 5.3 % TREO Mt Weld Mine in the Eastern Goldfields region and the 29.9 Mt @ 0.93% TREO Yangibarra REE Project in the Gascoyne region.

Narryer believes the current demand for critical minerals has increased the significance of earlier findings at the projects.

Exploration Program

Final drilling approvals received and the Company commenced its maiden diamond drilling program at the Rocky Gully REE Project, in the Great Southern region of Western Australia in May 2024.

The program is co-funded by the Western Australian Government as part of the Exploration Incentive Scheme (EIS) for awarded in 20231. The funding supports 50% of the drilling cost in the program, which equates to up to $175,000. The Company plans to drill up to 3 diamond holes at the Ivar Prospect, to test the carbonatite exploration model developed by the Company during 20232. This work included identifying anomalous geophysical and geochemical signatures, carbonatite mineralogy in previous RC drill chips and REE mineralisation.

Drillhole locations for this current program target areas where the Company hopes to identify carbonatite host rock, or related mineralisation / alteration in the intrusive halo. Examples of mineralised carbonatites in Western Australia include Mt Weld (Lynus Rare Earths) and the WA1 Resources West Arunta Project.