PVW Resources Limited (PVW or the Company) reports Tanami drill-ready REE and gold targets defined, priority target of 3km strike supported by 2021results.


HIGHLIGHTS

Rare Earths

Soil sampling results demonstrate:

  • Continuity between Killi Killi East 1 and 2 outline a 3km long drill target area;
  • Soil sampling also identifies multiple drill targets at Watts Rise; and
  • Regional soil sampling results support the prospectivity of the unconformity along the 18km long Watts Rise-Killi Killi East Trend with two new yttrium soil anomalies located along the trend.

Geophysical interpretation undertaken by Southern Geoscience supports priority one geochemical targets and new geochemical anomalies.

Gold

Soils also uncover significant Au anomalies at both Watts Rise (400m long and open to west) and Killi Killi East 1 (800m long and open to southwest) and Killi Killi East 2 (400m long and open to southwest).

2022 Program

Now finalising plans for drilling program to commence in April 2022, with an initial program of up to 10,000m RC drilling and 25,000m Aircore drilling.

2022 field program will include further ground-based reconnaissance work to follow up additional targets identified as part of the Southern Geoscience interpretation, including additional radiometric anomalies.

Commodity Markets

Rare Earth prices continue to rise with Dysprosium at US$488/kg, up 20% since June 2021.

Gold prices have strengthened to A$2,773/oz, up 15% since September 2021.

Executive Director Mr George Bauk said, “The 2021 field program has defined a significant area of interest in the Tanami for Heavy Rare Earths with particular emphasis on Dysprosium, Terbium and Yttrium. We have an 18km long geological structure (Watts Rise- Killi Killi Trend) with various points of surface mineralisation above 3% TREO and up to 12.45% TREO, some 12km apart. Further work has focused on the Watts Rise- Killi Killi Trend with a number of work programs completed to define areas that are drill ready”.


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This article includes content from PVW Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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