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PVW Resources (‘PVW’, “the Company”) is pleased to advise that final assay results from the 2022 drilling program at the 100%-owned Tanami Heavy Rare Earth and Gold Project in Western Australia have further upgraded the project’s gold potential, with one-metre resampling of 4m composite assays from the Watts Rise prospect returning high-grade results, and air-core drilling defining an extensive gold anomalous zone at Monte Cristo.
Highlights
- 1m resampling of previously reported significant 4m composite gold intercepts from Reverse Circulation drilling at the Watts Rise Prospect returns high grades, including:
- 22TARC104 – 13m @ 3.72 g/t Au from 79m
- including 2m @ 12.97 g/t Au from 79m
- and including 1m @ 11.55 g/t Au from 83m
- 22TARC102 – 14m @ 1.08 g/t Au from 64m
- including 1m @ 6.81 g/t Au from 76m
- 22TARC101 – 1m @ 5.48 g/t Au from 59m
- 22TARC104 – 13m @ 3.72 g/t Au from 79m
- Air-core drilling at the Monte Cristo prospect highlights 4km of gold anomalous Killi Killi Formation on wide spaced drilling, including an end-of-hole assay result from the centre of the anomaly of:
- 22TAAC0279 – 2m @ 0.31g/t Au (308ppb Au), from 68m.
Figure 1: Watts Rise section 487840m, including 1m RC resample results.
The one-metre resampling was undertaken on significant 4m composite results from Reverse Circulation (RC) drilling initially announced in October 2022 (ASX:PVW 24 October 2022 – Latest assays confirm rare earths and gold potential at Tanami REE Project, WA).
The gold results reported in this announcement add to the exciting Rare Earth Element (REE) results reported from air-core drilling (ASX:PVW 09 February 2023, Multiple new Heavy Rare Earth targets identified following exciting air-core results), reinforcing the Tanami Project’s exceptional discovery potential.
Executive Director Mr George Bauk said: “These results illustrate the outstanding gold potential in the Tanami region, with one-metre resamples of the 4m composites reported from our 2022 RC drilling campaign delivering a number of plus 10 gram-per-tonne gold results.
“These results are located less than 20km from Black Cat Syndicate’s Coyote Gold Deposit, which represents one of the highest-grade gold deposits in Australia with a recently updated underground Resource of 365,000 ounces grading an exceptional 14.6g/t Au1.
“PVW’s exploration programs at the Tanami Project have now delivered exciting results in both Rare Earths and gold, which represent a match made in heaven as a combination of minerals in one deposit.
“The PVW team is now finalising an interpretation of both the gold and REE results, with this analysis to underpin our 2023 exploration programs for both REE and gold.”
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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.
PVW:AU
Strong Drilling Results from Tarraji-Yampi (80%, 100%)
HIGHLIGHTS
- Assays from a diamond drilling program (6 holes, 1,524.8m) at Tarraji-Yampi have been received. These holes were designed to test 6 Cu-Au volcanogenic massive sulphide (“VMS”) targets around the Orion deposit and to identify potential off-hole conductors.
- Significant results were returned from the Orion, Orion Repeat, Orion Offset and OR1 targets:
Orion and Orion Repeat: KMDD001: 3m @ 4.5% Cu, 2.2g/t Au, 46.0 g/t Ag, 0.15% Co from 58.3m
And: 16m @ 0.7% Zn, 0.7% Pb, 12.7g/t Ag, 0.1g/t Au from 162m
Including:2m @ 2.6% Zn, 1.1% Pb, 26.8g/t Ag, 0.1g/t Au from 173m
Orion Offset: KMDD004: 5m @ 0.4% Cu, 0.5 g/t Ag from 11m
And: 1m @ 1.3% Zn, 0.7% Pb, 32.2g/t Ag, 0.1g/t Au from 23m
And a 50,000S conductor spanning ~150m x 150m, located ~100m down dip
And: 2m @ 0.9% Zn, 0.2% Pb, 3.8g/t Ag from 106m
And a 15,000S conductor spanning ~90m x 140m located ~80m down dip
OR1: KMDD006: 6m @ 1.2% Cu, 0.08% Co from 27m
Including: 2m @ 2.0% Cu, 0.19% Co from 28m
And a 24,300S conductor spanning ~80m x 200m, located ~180m down dip
- Additionally, a strong 14,500S off hole conductor spanning ~335m x 350m was defined at OR2.
- Results from the regional IP survey are expected in October 2024.
Dreadnought’s Managing Director, Dean Tuck, commented: “This drilling program was designed to identify new zones of mineralisation within and around the same feeder structures as Orion to better understand the Cu-Au VMS system. This program has delivered 6 new zones of mineralisation and four off-hole conductors that warrant follow up drilling. This is a successful outcome for the program and validation of the VMS model of mineralisation. As part of this program, an EIS co-funded IP survey was undertaken to test the effectiveness of IP at identifying Grant’s Find style Epithermal / Mesothermal Cu-Au mineralisation. The significant intersection of this style of mineralisation at OR1 underscores the importance of this work and we expect the results of that survey in October 2024.”
Figure 1: Photo of the Topdrill diamond rig at Orion Repeat.
Technical Discussion of Diamond Drilling
In the Phase 1 drill program (6 holes, 1,640m), 5 of the 6 targets were located along the same interpreted feeder structure as the Orion deposit and were defined by highly conductive, magnetic anomalies associated with elevated pathfinder geochemistry. These targets include the depth extension of Orion. The 6-hole Phase 1 drill program targets are discussed and summarised below.
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This article includes content from Dreadnought 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.
