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PVW enter the Gascoyne

14 February 2023 12:05
ASX: PVW

PVW Resources have diversified its rare earth holdings and secured 316 square kilometres of land in Western Australia’s Gascoyne province which is fast becoming a globally significant rare earth region.

The new package covers a number of major structures encompassing some highly prospective geologic units which include REE stream sediment samples grading beyond 1000 parts per million total rare earth oxide.

It is no surprise why PVW would want to step into a region already home to the under-construction Yangibana Mine and its JORC-compliant MRE of 21 million tonnes at 1.17% Total Rare Earths Oxides.

And PVW will bring an uncommonly adroit rare earth team to the region, geologists with experience with economic deposits are quite rare themselves and multiple PVW team members contributed to discovery of the Wolverine Deposit at Browns Range, and now stand ready to do it again with new holdings proximal to other players making good on the Gascoyne’s rare earth allure.

The new exploration package is located 15 kilometres along the strike from Kingfisher Mining’s Arthur River project where the company has recently identified a number of REE targets from drill assay which returned results of 5m at 3.45% TREO.

The southern area of the tenement is also within 30 kilometres of both Krakatoa Resources’ 101 million tonnes REE Tower project and Desert Metals Innouendy prospect where it returned outstanding REE assays up to 29m @ 1371 ppm from 28m.

The company said the acquisition will complement its rare earth and gold project in the Tanami, allowing it to leverage the strength and knowledge of its team in an emerging region.

“The potential and pedigree of this region are evidenced by the number of active explorers and mine developers, and the exciting REE results which have been reported in recent times,” executive Director George Bauk said.

“This work will progress in parallel with the next phase of planned work at the Tanami Project, where we have recently identified exciting new exploration targets for unconformity-hosted REE mineralisation.”

PVW’s Australian Stock Exchange-listed share price is currently trading at 13.5c (11:26 am UTC+ 8 hours).

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