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PVW kicks off detailed exploration in the desert

23 August 2021 11:25
ASX: PVW
The pure gold ore found in the mine is in the hands of men.

PVW Resources Limited PVW Resources Limited has commenced detailed exploration of its Tanami gold and rare earth project near the Kimberley in Western Australia.

The company will conduct an airborne magnetic and radiometric survey of Watts Rise and Killi Killi prospects for REE and gold targets while corroborating  data from the previous exploration left unchecked for more than a decade.

Possessing years of REE project development knowledge, PVW will explore regional possibilities for hydrothermal unconformity-related rare earth mineralisation contained within trends of both prospects while also focusing on untested depth and strike potential.

Concurrently, it will complete a field program and a review of the prospects surface geology and mineralisation.

The news comes as the company continues the detailed exploration of strategically secured gold assets in world-class gold producing regions amidst the precious metal trading at near-record levels. At the same time, rare earth has become increasingly recognised as one of the world’s most critical minerals.

“The results from the initial drill program at Killi Killi in the early 2010s compares favourably to the initial results at Brown’s Range Area 5 prospect from the 1980s”, executive director George Bauk said.

“The early analysis of the Killi Killi results indicates the potential for the presence of a light RE mineral and a heavy RE mineral which is your perfect scenario.

“The key driver of the Rare Earth industry is the magnetic elements, being neodymium, praseodymium, dysprosium and terbium, and these are usually not found in one mineralisation type”.

PVW expects to complete the survey over the next month with results used for identifying other REE targets.

The company’s Australian Stock Exchange-listed shares have risen 9.38 per cent today, trading at 17.5c (10:32 am GMT+ 8 hours).

 

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