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PVW’s rare earth spreads wide in the Tanami

8 September 2022 10:35
ASX: PVW

PVW Resources have confirmed its Tanami project’s potential to host significant rare earth mineralisation with initial results coming in shallow and deeper at both its Castella and Watts Rise prospects in the Western Australian desert.

Results from Castella returned up to 9530 parts per million total rare earth oxides with more highly elevated pXRF readings showing an yttrium oxide high of 17,753ppm.

RC drilling at Watts Rise likewise returned elevated readings within a zone of yttrium and strontium — consistently anomalous and extending over 380 metres.

The company said results demonstrated it was exploring in the right area and has prompted accelerated exploration

“The presence of a significant Heavy Rare Earths component in the assay results so far – including dysprosium and terbium – confirms the prospectivity of the Pargee Sandstone-hosted unconformity style targets and gives us great confidence in the scale and potential of the Tanami Heavy REE Project,” executive chairman George Bauk said.

A detailed ground gravity survey is set to commence this month, while PVW await assays for the remaining 97 RC holes.

PVW’s Australian Stock Exchange-listed share price was trading at 19c today (9.33 am UTC+8 hours).

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