Petratherm Limited has reported striking new drilling results from its Rosewood heavy mineral prospect in South Australia. In April, the company drilled 73 air core holes as part of a 128‐hole program at the Muckanippie Project. The initial assay results from ten of these drill holes record several high-grade intercepts, including 26 meters at 17.2% heavy minerals (HM) from 7 meters and 32 meters at 11.1% HM from 10 meters. Other notable intercepts, such as 15 meters at 11.5% HM and an intersection of 8 meters at 13.1% HM from shallow depths, have extended the known high-grade mineralisation by an additional 1.6 kilometers northwards. With mineralisation now extending over 3.6 kilometers in a north-south direction in the Rosewood East area and remaining open to further extension, these results build on earlier drilling success and support claims of widespread, shallow, high-grade HM mineralisation across an area exceeding 15 square kilometers. The drilling program, which covers a 400-meter spaced traverse and targeted a sediment sequence interpreted as marine and fluvio-deltaic in origin, confirms consistent high-grade HM deposits with an average Valuable Heavy Mineral content of over 95%. Petratherm’s CEO, Peter Reid, emphasized that the new intersections reveal the prospect’s continuity and significant thickness, noting that future step-out drilling in the coming weeks is expected to uncover even more high-grade mineralisation. In addition to the promising drill intercepts, the company is preparing for a bulk sample test with processing scheduled in Brisbane. This test work will use a wet concentrator and subsequent magnetic and electrostatic separation to provide initial HM sample products and help evaluate the commercial viability of the project. On the technical side, the drilling employed industry-standard air core methods with careful sampling protocols, including the use of a rotary cone splitter and heavy liquid separation. The reported intercepts, many exceeding 5% HM over substantial widths, confirm the geological continuity and flat-lying nature of the deposit, which is being effectively delineated for further exploration and resource definition. Bullish sentiment is supported by the excellent drill results that extend the mineralisation footprint, the consistently high grades encountered across multiple drill holes, and the strategic next steps including pending assay results from an additional 63 holes and forthcoming bulk sample test work. These factors suggest that the prospect has significant upside potential and that further exploration could lead to resource expansion. On the bearish side, some caution remains regarding the conversion of drilling results into a viable, economically extractable deposit. While the current intercepts are impressive, the overall continuity and recovery rates during bulk processing have yet to be fully demonstrated, and the project still requires additional drilling and metallurgical tests to mitigate technical and commercial risks.