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PVW Resources’ (ASX: PVW) core focus for the June Quarter was on gaining approvals to commence a pivotal drilling campaign in the Tanami Region.
Highlights
Tanami Gold and Rare Earth Element (REE) Project
- Heritage approval received for drilling at the Castella REE prospect in June, following COVID- related delays.
- Site preparation completed to provide access for the Reverse Circulation (RC) drill rig, with PVW’s maiden RC drill campaign in the region commencing late in the reporting period.
- 66 RC holes completed to date for 4,763m with drilling to continue across the Castella and Watts Rise prospects.
- Approximately 1,390 samples collected from geological logging and in-field portable-XRF analysis, with samples to be submitted to Perth- based laboratories for REE and gold analysis.
- Metallurgical testwork continuing on five 20kg samples, with studies progressed to assess possible improvements to concentrate grade.
Corporate
- $9.5M share placement (23.75M shares at $0.40 per share) completed to institutional and sophisticated investors following the issue of the Tranche 2 shares.
- This followed approval for both Tranche 1 (18,146,352 shares) and Tranche 2 (5,603,648 shares) from shareholders at the General Meeting held on 12 May. Tranche 1 was issued on 14 April.
- The heavily oversubscribed placement increased PVW’s cash balance to over $10M, putting it in a strong position to progress the recently commenced exploration program in the Tanami.
- Executive Director Mr George Bauk visited the US including Washington DC to discuss the Tanami Project with various government agencies.
Following the receipt of these approvals late in the reporting period, exploration drilling is now in progress to systematically test beneath surface mineralisation at Castella, and shallow mineralisation at Watts Rise.
Drilling will also explore along the more regional and largely untested 18km strike length of unconformity which hosts both the Castella and Watts Rise prospects.
While exploration activities were primarily focused on the Tanami Project, planning was also undertaken for exploration programs in the Kalgoorlie, Leonora and Ballinue regions for later in 2022.
Tanami Project
Previous exploration and mineralogical studies have confirmed several styles of mineralisation in both the Pargee Sandstone and the Killi Killi Formation.
The ongoing work indicates a significant mineral system hydrothermally altering the Meso/ Paleoproterozoic unconformity, with evidence for multi-generational fluid flow and xenotime precipitation. Following a successful 2021 field season, exploration highlights from the previous quarter include:
- Five metallurgical samples, each weighing 20kg, demonstrate strong surface mineralisation with up to 8.43% Total Rare Earth Oxides (TREO).
- Average Heavy Rare Earth Oxides (HREO) percentage of 80%, including an average of 2,990ppm dysprosium oxide and up to 5,795ppm dysprosium oxide.
- Ore Sorting obtained a TREO grade of 7.16% at a recovery of 87.3%.
- Magnetic separation obtained an 81.2% recovery and 50.8% mass rejection.
- Collection of quantitative and qualitative geochemical data at high resolution (micron- scale) paired with manual mineral interpretation to confirm minerals identified using AMICS spectra analysis and to establish mineral abundance and confirmation using SEM EDS/ XRD analysis, details of which were provided in the ASX announcement dated 7 December 2021 titled “Mineralogy confirms Heavy Rare Earths at Tanami are Xenotime”.
The significance of the brecciation and mineralogy within the Killi Killi Formation potentially provides a range of additional exploration opportunities away from the immediate unconformity targets.
Drilling will be undertaken to test the immediate unconformity targets and explore for REE and gold mineralisation along strike.
Figure 1: Areas of drilling proposed for 2022 field season. Includes the detailed geological interpretation and magnetic image. Drilling has commenced at the Castella Prospect.
Click here for the full ASX Release
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.
PVW:AU
E-Tech Resources
Overview
E-Tech Resources (TSXV:REE, FSE:K2i) is a Halifax, Nova Scotia-based exploration company developing its high-grade Eureka rare earths project in Namibia, a top-tier and mining-friendly jurisdiction in Southern Africa. The company is focused on exploring for neodymium and praseodymium, two critical minerals necessary for the global energy transition goals.
Part of the rare earth elements (REE) family of minerals, neodymium and praseodymium are essential to high-performance magnets used for electric motors, generators and electric vehicles. As demand for REEs is expected to increase by 400 to 600 percent over the next few decades, the focus is shifting toward developing a supply chain outside of China, which has long been a dominant supplier of the world’s REE.
The company's fully owned flagship Eureka project is located in the Erongo Mining Corridor of Namibia. The Eureka project has a maiden inferred resource of 310 kt at 4.8 percent TREO with grades ranging from 1 to 16 percent. The company believes there is strong potential to increase the inferred and indicated mineral resource by at least 0.5 to 1.5 million tonnes, based on a technical scoping study.
E-Tech Resources completed a combined diamond drilling and reverse circulation drilling campaign at Eureka in 2022, with final assays indicating significant intersections of 11.2 meters at 1.2 percent TREO, 2.2 meters at 2.4 percent TREO, 8.8 meters at 1 percent TREO, and 6.3 meters at 1.9 percent TREO.
In addition, preliminary pXRF drilling results1 for the Adder Target have confirmed a discovery zone with the presence of REE mineralization identified in multiple zones in a drill hole correlating with REE mineralization identified on surface. Mineralization remains open at depth and along strike.
The results are part of the ongoing extended exploration of one of the 17 targets identified through ground radiometric and magnetic geophysical surveys and a geological mapping program completed earlier.
The Eureka project is strategically located near several mines and projects, including Rossing Uranium's Rossing Uranium mine, QKR's Navachab Gold mine, Namib Lead and Zinc Mining's Namib Lead and Zinc mine, and AfriTin's Uis mine. Eureka has excellent infrastructure and access to a major highway, a railway, roads, power, water and skilled professionals.
The company has taken steps to expand its land holdings within the Erongo Mining Corridor in Namibia, by entering into an agreement to acquire an 85-percent interest in EPL 874, which lies adjacent to and surrounds the company’s EPL 6762. The approximately 165-square-kilometer EPL 8748 contains a significant portion of the prospective Eureka Dome, the geological feature hosting mineralised REE-bearing carbonatites. Approximately a third of the Eureka Dome falls within the boundary of E-Tech Resources’ EPL 6762 and the remaining portion falls on the adjoining license EPL 8748.
E-Tech Resources is committed to maintaining the highest ESG standards to sustainably supply the green economy and adhere to the guidelines of the United Nations' Sustainable Development Goals. E-Tech Resources plans to create a sustainability committee to guide its ESG efforts and will be conducting further environmental and social impact assessments as part of ongoing feasibility studies to maintain responsible sourcing. E-Tech Resources' Eureka project is currently expected to have no major negative socio-environmental impact on the region.
The company is exploring the potential of a feasibility study for a rare earth separation plant in Namibia. Recognizing the need for a de-risked supply chain for these strategic critical raw materials, E-Tech is collaborating with Ondoto Rare Earth, a private Namibian company developing the high-grade Ondoto bastnaesite deposit in northern Namibia, and Namibia Critical Metals (TSXV:NMI, OTCQB: NMREF), which is developing the tier-1 heavy rare earth project, Lofdal, a globally significant deposit of the heavy rare earth metals dysprosium and terbium. Together, the three companies will participate in a joint venture known as Rare Earth Alliance Namibia (REAN).
E-Tech Resources also signed a memorandum of understanding (MOU) with Novamera to evaluate the use of surgical mining and Novamera's technologies as the extraction method for the Eureka Project. The MOU sets out a series of milestones that include a conceptual surgical mining economic desktop evaluation (commencing immediately), Guidance Tool calibration activities and a bulk sample which could provide a more cost-effective and faster path to production, while also radically reducing environmental and social impact.
After evaluating the results of the current exploration program, the company engaged Gecko Namibia and Flightec Namibia to support ongoing exploration and development activities on the project. Phase 1 ultra-high resolution UAV-borne magnetic survey will be conducted by Flightec.
Company Highlights
- E-Tech Resources' fully owned flagship Eureka project is located in the Erongo Mining Corridor of Namibia and has a maiden inferred resource of 310 kilotons at 4.8 percent total rare earth oxide (TREO) with significant growth potential.
- The Eureka project is strategically located near several mines and projects, as well as excellent infrastructure, with access to a major highway, a railway, roads, power, water and skilled professionals.
- E-Tech Resources is focused on exploring for neodymium and praseodymium, critical minerals essential to permanent magnets for electric vehicles.
- Early metallurgical testing has indicated the potential to be one of the simplest REE projects to process in the world.
- Recently completed ground geophysical and exploration mapping programs at the Eureka project identified 17 robust targets for exploration drilling
- Preliminary pXRF drilling results1 for the Adder Target have confirmed a discovery zone with the presence of REE mineralization.
- E-Tech Resources is committed to maintaining the highest ESG standards in adherence to the United Nations' Sustainable Development Goals.
- E-Tech Resources is led by a highly skilled management team with a proven track record of success in the mining industry and capital markets.
Get access to more exclusive Rare Earth Investing Stock profiles here
High Priority REE Targets Identified At The Company’s Critical Elements Project
HIGHLIGHTS
- High priority REE (rare earth element) targets identified by expert geophysical consultants, Southern Geoscience
- Multiple radiometric anomalies and structural zones prospective for pegmatite intrusions identified
- REE targets are located on the Company’s exploration licences E09/2354 and E09/2377 in the highly prospective Gascoyne Province, Western Australia
- Initial exploration program to commence later this month, comprising ground reconnaissance, rock chip sampling and geochemical analysis
The high priority targets sit within tenements held by Reach Resources wholly owned subsidiary, Critical Elements Pty Ltd (Critical Elements), that were acquired in November 2021. The Critical Elements Project lies in close proximity to successful explorer Kingfisher Mining (ASX:KFM) and are also only ~80km south of the Company’s Skyline tenure, which is immediately adjacent to Hastings Technology Metals Limited (ASX: HAS “Hastings”), Yangibana REE development which has a current Ore reserve of 16.7Mt at 0.95% TREO for 158Kt (Refer HAS ASX Announcement 27 July 2021). (Refer to Figure 1).
Figure 1: Reach Resources regional locations
Southern Geoscience focussed on structural interpretation and target generation based on airborne magnetic data, with additional detail derived from interpretation of radiometric data and satellite imagery. Resulting from the interpretation was the identification of six REE targets within Reach tenure. A full list of identified targets within Reach tenure is included in Table 1 and depicted in Figure 2.
All targets display geological and structural complexity combined with previously identified prospective critical metal and/or REE mineral association.
Figure 2: Targets and Magnetics
Costeaning has been undertaken previously within the project areas and returned significant results including 12.4% Ta2O5, 32.0% Nb2O5, 0.95% WO3 and 0.25% Sn, from selective rock chip samples (Refer ASX Announcement 29 November 2021). REEs were not analysed at that time however thorium anomalism, which has been shown by Kingfisher Mining and others to be associated with REE mineralisation in the region, has also been identified on Reach tenure from the radiometric data for the area interpreted by Southern Geoscience.
Click here for the full ASX Release
This article includes content from Reach Resources Limited, 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.
