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PVW take aim on heavy rare earths

29 November 2022 10:40
ASX: PVW

PVW Resources have a new high-priority heavy rare earth target at its Tanami Gold and Rare Earth Project in Western Australia, after detailed mapping of the Watts Rise prospect identified a breccia zone continuous over a kilometre.

The new zone rests in a similar geological setting to the famed Wolverine Deposit and further builds on a swag of targets.

Wolverine is the largest of the ore bodies in the Tanami’s Browns Range area which collectively represent one of the world’s richest sources of dysprosium and other critical heavy rare earths — and was discovered with involvement of multiple PVW team members.

Not all rare earths are equal, and particular focus will be on heavy elements including dysprosium and terbium, critical in clean energy, military applications, technological solutions, and present in high proportions at Watts Rise.

The company said the breakthrough highlighted the value of systematic exploration using tried and tested methods.

“When the field geologists identified this breccia structure, they immediately realised its potential link to the existing mineralisation. At Watts Rise, the Pargee Sandstone may be acting as a ‘cover’ to significant mineralisation,” executive director George Bauk said.

“If our interpretation is correct the real prize would lie deeper, and the breccia zone represents a possible controlling structure. The continuity and nature of the brecciation need to be tested with drilling, which we plan to progress as soon as we can.”

PVW have begun planning the follow-up drilling campaign next year, with results from a ground gravity survey expected to be delivered in the next few weeks.

PVW’s Australian Stock Exchange-listed share price was trading at 11.5c today (9:49 am UTC+8 hours).

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