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PVW reinforce high grade Tanami gold

10 February 2023 08:53
ASX: PVW

PVW Resources have reinforced the high-grade gold potential of the Tanami and delivered a number of results exceeding ten grams per tonne from one-metre resamples of the four metre composites from last year’s RC drilling campaign at its rare earth and gold project in the Western Australian Tanami Desert.

It comes in the wake yesterday’s rare earth results which highlighted multiple new targets and exploration avenues — building up potential for a lucrative multi-commodity opportunity from a single deposit.

Results from the Watts Rise Prospect, including a best return of 13 metres at 3.72 grams per tonne gold, with a high-grade component of 2 metres at 12.97g/t, continued to indicate significant widths and validate previous drill results, with an improvement in grade supporting further exploration both down plunge and along strike.

And air-core drilling at the Monte Cristo highlighted four kilometres of gold anomalous Killi Killi Formation on wide spaced drilling to match up with yesterday’s rare earth results from the prospect, which included five metres at 3071 parts per million total rare earth oxide with 65 per cent lucrative heavy rare earths.

The company said the results illustrated the outstanding gold potential of the region.

“These results are located less than 20km from Black Cat Syndicate’s Coyote Gold Deposit, which represents one of the highest-grade gold deposits in Australia with a recently updated underground Resource of 365,000 ounces grading an exceptional 14.6g/t Au,” executive director George Bauk said.

“PVW’s exploration programs at the Tanami Project have now delivered exciting results in both Rare Earths and gold, which represent a match made in heaven as a combination of minerals in one deposit.”

The explorer is now finalising an interpretation of both gold and rare earth results to underpin the year’s exploration programs as it prepares its return to the Tanami.

Significant results from Watts Rise:

  • 13m @ 3.72 g/t Au from 79m – including 2m @ 12.97 g/t Au from 79m – and including 1m @ 11.55 g/t Au from 83m ­
  • 14m @ 1.08 g/t Au from 64m – including 1m @ 6.81 g/t Au from 76m ­
  • 1m @ 5.48 g/t Au from 59m

PVW’s Australian Stock Exchange-listed share price is currently trading at 14c (8.50am UTC+ 8 hours).

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