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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
High-Grade Discoveries Enhance Scale of Pelé Project
New discovery of high-grade REE-Nb-Sc-Ta-U mineralisation
- High-grade diamond drill results at Pelé Target 1 returned assays of up to 13.5% TREO:
- NdPr: 23,217 ppm | DyTb: 938 ppm | Nb2O5: 5,011 ppm | Sc2O3: 381 ppm | Ta₂O₅: 248 ppm | U3O8: 1,100 ppm
- High-grade REE-Nb-Sc-Ta-U from shallow depths (~20 m) extending to vertical depths of ~70 m
- Drillhole TG1DD0004 returned 29.8 m of a cumulative downhole mineralisation, including 15.3 m at 9.1% TREO from 25.6 m depth, with grades of:
- NdPr: 15,617 ppm | DyTb: 692 ppm | Nb₂O₅: 1,861 ppm | Sc₂O₃: 231 ppm | Ta₂O₅: 94 ppm | U₃O₈: 754 ppm
- Auger drilling continues to discover extensive, near-surface horizons of high-grade monazite sands, with grades of up to 7.9% TREO and assays of up to 11,681ppm NdPr and 580 ppm DyTb
Pelé Target 1 discoveries extend high-grade mineralised trendline to 10 km
- Pelé is confirmed as a major district-scale rare earth exploration project located ~60 km southwest of BRE's Monte Alto project in Bahia, Brazil, and covers an exploration area over 60 times larger than Monte Alto
- Recent exploration has focussed primarily on Pelé Target 1 – one of five large exploration target areas within the larger Pelé Project area – delivering new discoveries of high-grade rare earth outcrops with grades of up to 17.7% TREO and high-grade monazite sands with grades of up to 8.5% TREO
- New outcrop discoveries of high-grade REE-Nb-Sc-Ta-U mineralisation significantly extend the mineralised strike at Pelé Target 1 to over 10 km
- Brazilian Rare Earths now controls three major confirmed projects - Monte Alto, Sulista and Pelé – each demonstrating significant diamond drill intersections of high-grade REE-Nb-Sc-Ta-U mineralisation
Figure 1: Pelé project location and relative size 1
The Pelé Project is hosted within the Volta do Rio Plutonic Suite, a large-scale magmatic system that extends over 180 km in Bahia, Brazil. Brazilian Rare Earths has confirmed the exploration potential of the province with multiple discoveries of ultra-high-grade mineralisation, including rare earth elements (REE), niobium (Nb), scandium (Sc), tantalum (Ta), and uranium (U).
Pelé Target 1 has the largest expanse of weathered REE-Nb-Sc-U outcrops discovered since exploration commenced at the Rocha da Rocha rare earth province. New geological mapping, 75 line-km of ground gamma stations and 162 new outcrop samples highlights that REE-Nb-Sc-Ta-U mineralisation repeats along eastern and western limbs of a regional structural fold that now extends over 10 km at the project.
Successful diamond drilling at Pelé Target 1
The new drilling results are from 10 diamond core holes totalling 901 metres and 100 auger drill holes totalling 1,095 metres. Assays are pending for a further 19 auger holes totalling 243 metres.
High-grade, hard rock REE-Nb-Sc-Ta-U mineralisation was intersected from shallow depths with assay grades of up to 13.5% TREO. High grades of neodymium and praseodymium were recorded, with grades up to 23,217 ppm NdPr, as well as high grades of dysprosium and terbium of up to 938 ppm DyTb.
Figure 2: Pelé Target 1 significant intercepts in auger and diamond drill holes. Results from recent outcrop samples shown right (yellow)
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This article includes content from Brazilian Rare Earths, 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.
Dalaroo Secures Option on Blue Lagoon Zirconium, Niobium and Rare Earth Project in Greenland
Highlights
- Binding Heads of Agreement executed for an Option to acquire 100% of Blue Lagoon Zirconium-Niobium-Rare Earth Element (REE) Project, (MEL 2022-07), located in the Gadar Province of Greenland.
- The USGS reports Greenland has the third highest reserves of REE in the western world, following US and Australia respectively, which has significance given current geopolitical dynamics and security of supply chain concerns.
- President Trump’s recent interest in Greenland as a source of critical resources and its strategic location highlights the growing importance Greenland has for critical metals and their ownership.
- The Project has been historically sampled as part of a regional stream sediment exploration undertaken by the Greenland and Denmark Geological Society (‘GEUS”) for uranium in 1979. Dalaroo is planning a program of systematic exploration to seek to report the historical results on the Project in accordance with the JORC Code 2012.
- Project has similar geochemical anomaly footprint to the Kvanefjeld (ASX: ETM Energy Transition Metals) and Kringlerne/Tanbreez (NASDAQ: CRML Critical Metals Corp) multi- element deposits in South Greenland, showing enrichment in critical minerals and high value LREE elements from regional stream sediment sampling:
- Up to 0.93% Zirconium (Zr)
- Up to 320 ppm in Niobium (Nb)
- Up to 520 ppm in Neodymium (Nd)
- Sampling has not returned any elevated radioactive elements, which is significant given the current Greenland Government ban on any activities related to mining if uranium concentrations are over 100ppm.
- Project sits on the westernmost part of the highly prospective Gadar Block alkaline intrusives belt in SW Greenland. This belt hosts significant advanced critical metals-REE deposits.
- Project area contains potential bulk tonnage options from beach-like deposits of weathered granitic rock, providing potential low-cost options for separation and the planned focus for preliminary work.
Dalaroo MD & CEO, Mike Brown commented “We are very excited to have secured this Option on the Blue Lagoon REE-Nb-Zr Project in Southwest Greenland. Regional stream sampling has indicated significant LREE anomalies and other critical metals that have both similar tenor to the geochemical footprint and geological setting of three other REE deposits in South Greenland. We see this as a strategic play on two levels; firstly, exposure to high demand commodities such as REE, niobium and zirconium and secondly, exposure to a highly prospective and unexplored jurisdiction that is getting significant attention with respect to the vital role Greenland could play in providing critical metals in the future. With the Project being located on the coast with ice free water we are looking forward to getting onto the ground to commence exploration activities.”
Figure 1: Project location, GEUS regional stream sediment location and neodymium assay results.
Click here for the full ASX Release
This article includes content from Dalaroo Metals Ltd, 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.
