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PVW get heavy in the Tanami

25 October 2022 10:56
ASX: PVW
Heavy rare earth exploration

With maiden drilling at the Tamani project wrapped up, PVW Resources have confirmed the project’s lustre for gold and heavy rare earths while identifying extensive new targets.

While assays are still coming in from 66 holes, the first half have all shown some signs of rare earth mineralisation — and brought in a new peak intersection of 21,865 ppm total rare earth oxides among other high-grade returns.

The widespread four-month program covered just under 27 thousand metres, targeting a vast 18-kilometre-long prospective corridor at the wholly owned project.

In sync with assay returns, PVW have kicked off a detailed ground gravity survey at Castella to provide a new way to target REE mineralisation and define targets for follow up.

Drilling also extended known gold mineralisation at the Watts Rise prospect, remaining open at depth and backing up historic results with new grades up to 16m @ 1.64 g/t gold.

While it awaits numerous results from the inaugural campaign, the company said initial results were very encouraging.

“We now have plenty of data to indicate that this is a fertile system with enormous potential to host significant mineralization,” executive director George Bauk said.

“The combined data from these programs, together with the full suite of assay results from RC and air-core drilling, once available, should help us to vector into the most prospective parts of the 18km corridor for the next phase of drilling.”

PVW expect results all results to be delivered by early December, after which the company will get to planning a follow-up campaign for the new year.

PVW’s Australian Stock Exchange-listed share price was trading at 14c today (10.56 am UTC+8 hours).

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