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PVW unveil highest priority rare earth strike

9 March 2022 12:51
ASX: PVW

PVW Resources defined a drill-ready three kilometre rare earth strike as its highest priority amid a number of fresh REE and gold targets at its project in the Western Australian end of the Tanami desert.

Soil sampling identified continuity of the lengthy strike lying between between Killi Killi East sites and multiple additional drill targets at Watts Rise.

Regional results further bolstered the project’s rare earth credentials with two new Yttrium anomalies located along the 18 kilometre trend between Watts Rise and Killi Killi East.

Significant gold anomalies were uncovered across three prospects and the explorer has been sure to take note of the open resources holding grades up to 3 grams per tonne.

Both commodities are in an upswing with gold trading over US$2050 per ounce and rare earth dysprosium reaching US$488 per kilogram.

The company said while rare earths were the focus it could hardly ignore outstanding gold results.

“Not only does the location of the gold anomalies reinforce the geological interpretation, but the tenor of anomalism from surface samples is very encouraging,” executive director George Bauk said.

“Rare earth prices are increasing, demand is strengthening and more projects are needed.”

The Perth-based company is finalising plans for a 35,000 metre drilling program at the project set to commence in April.

PVW’s Australian Stock Exchange-listed price was trading at 55.5c today (11:25 am UTC+8 hours).

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