Petratherm Limited has revealed robust Phase 2 drilling results from its Rosewood Heavy Mineral Prospect. The recent program, which included 128 air core drill holes totaling 4,486 metres, has extended the high-grade mineralisation area to over 20 square kilometres, with intercepts reaching up to 1.6 kilometres further north than previously delineated. Several drill holes returned significant heavy mineral grades, including 9 metres at 15.1% (with sub-intervals as high as 26.4%), 12 metres at 12.7% (up to 17.1% in part), and an intercept of 11 metres at 16.4% HM featuring a 1-metre section of 55.7% HM. These results underscore the continuity, grade, and thickness of the heavy mineral sands encountered in the region. The drilling campaign has confirmed two discrete, north–south trending high-grade zones at the Rosewood East and Rosewood West areas. At Rosewood East, the mineralised envelope varies from 600 metres to 3,000 metres in width and appears to widen towards the north, with all new holes in the northern section intersecting at least 10 metres at over 8.5% HM. Comparable encouraging intercepts were recorded at Rosewood West, where recent drills also showed strong results with extended intercepts. Bulk sample metallurgical studies are set to begin shortly using a wet concentrator followed by magnetic and electrostatic separation techniques. These tests aim to assess both the quality of the heavy mineral concentrates and the potential product mix, contributing to a better understanding of the project’s economic potential. The company is moving forward with additional step-out drilling later this week to target further extensions of the high-grade mineralisation, particularly to the north. Alongside ongoing tests at the prospect, assay results from 55 drill holes at nearby saprolite targets are anticipated in the coming weeks, which may add further value to the overall heavy mineral exploration efforts in the region. Investors may view these findings through a bullish lens given the robust high-grade intercepts and the expanding footprint, which suggest significant resource potential. The planned continuation of drilling campaigns and metallurgical studies is expected to provide more clarity on processing and recovery, potentially adding considerable upside to Petratherm Limited’s asset portfolio. On the bearish side, the project remains in an early exploration stage, and uncertainties surrounding metallurgical recoveries and further extension success could drive volatility. For beginner traders, the latest announcement provides both promising drill data and the usual exploration risks before any definitive production or resource estimates are delivered.