Petratherm Limited announced that it has received grant of EL 6855 located in the Northern Gawler Craton of South Australia. The tenement covers a 178 km2 area over the central portion of a regionally extensive layered intrusive sequence known as the Muckanippie Anorthosite Complex. The layered complex shows evidence of rare earth (REE) and ferro-titanium enrichment.

PTR has an adjacent tenement area (EL 6815) covering an area of 80 km2 over other portions of the intrusive complex. The licences collectively termed the "Muckanippie Project" make up a new REE and titanium focus exploration region for the Company, building on encouraging REE results at PTR's Comet Project Area 40 kilometres to the northeast. Re-assaying of open file historic government and company drilling has outlined several areas with anomalous REE's in the weathered clay rich profile.

In all, 44 holes were re-assayed with one composite sample of the upper saprolite clay horizon and a second composite sample taken at the base of each hole over the saprock zone (refer to Table 2 of significant intercepts). In particular, the broad spaced sampling highlights the central magnetic zone of the Muckanippie Anorthosite Complex as being highly elevated in REEs ranging between 700 to 1000 ppm Total Rare Earth Oxide (TREO), providing an immediate focus for initial ground exploration works. The Muckanippie Anorthosite Complex includes a number of mafic intrusive bodies and mafic horizons.

Limited historical drilling by other explorers has shown broad intervals of highly anomalous titanium and iron, and petrological studies describe abundant apatite, a source of rock phosphate (chemical formula Ca5(PO4)3(F,Cl,OH) associated with these mafic complexes. Historic drill hole TCP01 recorded 39m @ 8.7% TiO2, 22.1% Fe from 55m inc. 10m @ 10.5% TiO2 + 22.7% Fe from 70m. Although no historical phosphate assays were undertaken, later petrological analysis of the core describes apatite concentrations averaging 7 to 10% of the total rock mass.

Globally, anorthosite complexes relate to specific geological environments and are reasonably uncommon. However, they have often been found to be a major source of titanium, iron, vanadium and phosphate ores. Table 1 overleaf provides a summary of some notable deposits hosted within anorthosites from around the world.

These ores are associated with the mafic portions of the intrusive complex and are generally easily defined using magnetic data as the iron mineralisation associated with the ores is mostly in the form of magnetite. These bodies have only been lightly explored for this style of mineralisation with substantial portions of the prospective magnetic intrusions remaining open for future testing.