New Heavy Rare Earth Breccia Target Identified At Tanami Project, WA

PVW Resources (‘PVW’, “the Company”) is pleased to advise that it has identified a significant new REE exploration target at its 100%-owned Tanami Heavy Rare Earth and Gold Project in Western Australia following an important breakthrough by its exploration team.

Highlights

• Detailed mapping at Watts Rise has identified a Breccia Zone that is continuous over 1km which is a REE mineralisation target.
  
• The Breccia Zone is interpreted to intersect the unconformity at depth below the mineralisation intersected in PVW’s 2022 drilling programme at Watts Rise.
• The geological setting for this new target is similar to the structurally-controlled Northern Minerals (ASX:NTU) Wolverine deposit at the Browns Range Project (6.44Mt at 0.96% TREO) where mineralisation is hosted in the older rocks below the unconformity.
• Heavy Rare Earths rich in high value dysprosium and terbium are essential ingredients in the production of NdFeB magnets used in clean energy, military, and technology solutions. Mineralisation identified at the Tanami Project has a high proportion of Heavy Rare Earths and in particular dysprosium and terbium.

The high-priority exploration target has emerged as a result of reinterpretation of the structural geology around the unconformity-hosted REE mineralisation intersected in the Company’s recently completed 2022 drilling program at the Watt’s Rise prospect.

An extensive mapping program conducted by a leading consultant geologist has resulted in the identification of a north-west oriented Breccia Zone which is a possible control on REE mineralisation in the area.

As a result, a new target has emerged based on the interpreted extension of this structure at depth where it intersects the unconformity at a high angle.

Executive Director Mr George Bauk said: “This is an exciting breakthrough by the team which highlights the value of systematic exploration utilising tried and tested methods such as detailed field mapping and structural geology.

“When the field geologists identified this breccia structure, they immediately realised its potential link to the existing mineralisation. At Watts Rise, the Pargee Sandstone may be acting as a ‘cover’ to significant mineralisation.

“The unconformity mineralisation which we intersected in south-oriented drilling earlier this year is controlled and confined by stratigraphy limiting its lateral extent, however structurally controlled mineralisation below this in steep structures may not have the same limitations.

“The mineralisation in the Pargee Sandstone and at the unconformity confirm the mineralising system and given the intensity of alteration, we believe it is close to a mineralising structure. If our interpretation is correct the real prize would lie deeper, and the Breccia Zone represents a possible controlling structure. The continuity and nature of the brecciation needs to be tested with drilling, which we plan to progress as soon as we can.”

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