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PVW expands Kalgoorlie gold potential

7 September 2021 10:04
ASX: PVW

PVW Resources has boosted its gold exploration potential following the finalisation of a massive expansion deal for the King of the West project near the heart of Kalgoorlie.

Under the deal, the company will have increased its prospective gold targeting area by a whopping 50 per cent after acquiring additional tenements either abutting or adjacent to PVW’s existing tenure.

It comes just a day after initial assays from the Black Flag prospect, sharing a south-eastern boundary with the new tenements, returned significant results confirming a bedrock anomaly over 2 kilometres of a strike as high as 1.84 grams per tonne over the metres amongst other solid results.

Extension auger drilling at the nearby Pappy prospect also revealed promise with high gold mineralisation detected over three kilometres.

The company said the results provided the impetus for the expansion ahead of extended auger drilling at the site.

“This transaction has consolidated our landholding at our Kalgoorlie project,”  executive director George Bauk said.

“We have an outstanding 1.2km soil anomaly that warrants a drill program.

“This project is located within 30km of Kalgoorlie, near existing mining and processing plants which provides numerous commercialisation options.”

PVW expects the final air core results this month while also anticipating auger results from the King of The West in due course.

It also plans to consolidate tenements into PVW subsidiary PVW Kalgoorlie Pty Ltd upon completion of the drilling.

The company’s Australian Stock Exchange-listed shares had risen 2.78 per cent today, trading at 18.5c today (9:07 am GMT+ 8 hours).

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