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PVW unlocking the Tanami

9 February 2023 10:30
ASX: PVW

PVW Resources have identified multiple significant new rare earth anomalies and high priority exploration targets from last year’s air core program over its Tanami heavy rare earth and gold project in Western Australia’s Tanami Desert.

Results confirm the significant prospectivity of the project, now unlocked with even more avenues of exploration for the new year.

The highly elevated return of 7032 parts per million total rare earth oxide from the bottom of one hole at Watts East notably held a very high heavy rare earth ratio of 93 per cent, indicating the target is an offset extension of Watts Rise.

And new exploration will carry on with a now-confirmed model after structurally controlled and mafic hosted mineralisation, open along strike within the Killi Killi Formation and below unconformity was intercepted at the Serpa prospect.

With significant widespread saprolite clay-hosted mineralisation also hit at the Monte Cristo prospect, the company said the results’ return marked a significant development in exploration of the Tanami.

“They have outlined a number of new priority targets, taken from conceptual targets to highly anomalous TREO results ready for follow-up, substantially enhancing our exploration pipeline in the Tanami,” executive director George Bauk said.

“We are now ideally positioned to prioritise and test these new targets in 2023. The results reported in this announcement, stemming from exploration undertaken in 2022, highlight the value of systematic exploration utilising tried and tested methods.”

PVW is now further electrified ahead of its return to the Tanami, gearing up for a campaign focused on following up high priority targets and exploring its tenements for the next generation of rare earth discoveries.

Significant results:

  • Monte Cristo Prospect: 10m @ 1,857ppm TREO (59ppm Dy2O3 468ppm Y2O3) from 19m including 5m @ 3,071ppm TREO (95ppm Dy2O3 568ppm Y2O3) from 20m (65% HREO).
  • Monte Cristo Prospect: 11m @ 1,037ppm TREO from 22m.
  • Serpa Prospect: 6m @ 1,676ppm TREO from 35m.
  • Watts East Prospect: 1m @ 7,032ppm TREO (634ppm Dy2O3 4394ppm Y2O3) from 30m (93% HREO).

PVW’s Australian Stock Exchange-listed share price has risen 22.73 per cent today, currently selling at 14c (10.27 am UTC+8 hours).

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