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PVW Resources (ASX: PVW) (‘PVW’, “the Company”) is pleased to advise that it has secured an exciting new exploration and growth opportunity in one of the world’s most prospective emerging REE provinces, the Gascoyne Province in north-west Western Australia.
Highlights
- PVW Resources Ltd (PVW) has secured a significant combined exploration package of 316km2 in the heart of the emerging Gascoyne REE Province in WA.
- The package encompasses major structures covering highly prospective geological units including anomalous REE stream sediment samples grading >1,000ppm TREO (total rare earths oxide).
- The Gascoyne Province is one of the most exciting new REE provinces globally, and includes the new Yangibana Mine, owned by Hastings Technology Metals, which is currently under construction.
- The ground package (which includes 1 granted EL and four ELA's) is located in close proximity to a number of recent REE discoveries and active explorers, including:
- Kingfisher Mining Ltd (15km)
- Desert Metals Ltd (17km)
- Krakatoa Resources Ltd (30km)
- Dreadnought Resources Ltd (120km)
Figure 1: PVW Gascoyne Project Location, showing currently active REE projects and recent Mineral Resource Estimates.
The Company has entered into a purchase agreement to acquire a 100% interest in a portfolio of five exploration tenements located in close proximity to a number of exciting recent REE discoveries and the new Yangibana rare earths mine (Figure 1).
The 316km2 Project consists of one granted Exploration Licence and four Exploration Licence Applications in highly prospective parts of the Capricorn Orogen within the Gascoyne Province.
Situated east of Gascoyne Junction township, the region has quickly become highly prospective for REE in a variety of geological environments.
Hastings Technology Metals (ASX: HAS) and Dreadnought (ASX: DRE) have exciting resource projects located approximately 120km north of PVW’s closest tenement, while Kingfisher Mining (ASX: KFM) has reported significant recent REE surface results within 15km along strike to the north-west from the same tenure.
Other active explorers who have released very positive results in the region include Desert Metals (ASX: DM1) and Krakatoa Resources (ASX: KTA).
While in the Gascoyne Province PVW will focus on carbonatite and other hydrothermal REE mineralisation, the monazite sands and clay-hosted deposits being discovered regionally are also viable targets that will be explored.
Commenting on the acquisition, PVW Executive Director George Bauk said:
“This is a fantastic addition to our portfolio in one of the world’s most exciting emerging rare earths provinces. The potential and pedigree of this region is evidenced by the number of active explorers and mine developers, and the exciting REE results which have been reported in recent times.
“This is a complementary acquisition to our Tanami REE Project, allowing us to leverage the technical strengths and REE knowledge of our team in a new, exciting region. The combination of projects being HRE in the Tanami and now LRE in the Gascoyne ensure PVW are across all the critical rare earths. We are really looking forward to securing the grant of the remaining four tenements and getting on the ground as soon as possible to start exploring.
“This work will progress in parallel with the next phase of planned work at the Tanami Project, where we have recently identified exciting new exploration targets for unconformity-hosted REE mineralisation.”
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.
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