PVW Resources (ASX:PVW) reports that a field program at its Tanami Project has encountered ‘high-grade’ rare earths from rock chip samples, with assays returning grades of up to 12.45% TREO, and 14 of 20 samples returning grades of at least 1% TREO.
The field program, completed in August, included rock chip sampling and reconnaissance geological mapping at the project’s Killi Killi East and Watts Rise prospects, while geochemical soil sampling was also undertaken at Watts Rise. PVW reports that samples were taken from over 1.8km of strike, adjacent to a regional unconformity.
“these results are as significant as those announced in 2010 when the Wolverine deposit was first discovered at Browns Range”
Importantly, heavy rare earth elements make up 80% of TREO grades from these samples, with key results including:
- 12.45% TREO including 11,592ppm dysprosium
- 9.26% TREO including 7,070ppm dysprosium
- 7.38% TREO including 6,324ppm dysprosium
- 3.90% TREO including 2,743ppm dysprosium (12km from the Killi Killi East prospect)
Addressing the results, PVW Resources Executive Director George Bauk said: “These are significant Heavy Rare Earth results. Following my time as Managing Director of Northern Minerals for over 10 years, I believe these results are as significant as those announced in 2010 when the Wolverine deposit was first discovered at Browns Range. We now know so much more about this style of mineralisation and what we have uncovered to date at Killi Killi indicates there is significant potential within the Killi Killi Corridor, which is over 2km long, and the regional target of over 18km along the Killi Killi East/Watts Rise trend.”
On the 28th of September the Morrison Government announced a $2 billion loan facility for Australian critical minerals projects to help secure supply of resources required to “drive the new energy economy and support the resources jobs of the future”.
PVW reports that upcoming work at Tanami will include geochemical surface sampling and ground radiometrics at Killi Killi East, along with follow-up drilling at Watts Rise and Killi Killi East targeting both rare earths and gold mineralisation.
Images: PVW Resources NL