
May 18, 2022
Drilling scheduled to commence next month at Tanami Heavy REE Project
PVW Resources Limited (ASX: PVW) (PVW or the Company) is pleased to announce that it has successfully completed the landmark $9.5 million share placement (Placement) announced on 6 April 2022.
Highlights
- $9.5M share placement (23.75M shares at $0.40 per share) to institutional and sophisticated investors now completed following the issue of the Tranche 2 shares.
- This follows approval for both Tranche 1 (18,146,352 shares) and Tranche 2 (5,603,648 shares) received from shareholders at the General Meeting on 12 May. Tranche 1 was issued on 14 April.
- The heavily oversubscribed placement was arranged and managed by CPS Capital Group Pty Ltd.
- The successful capital raising increases PVW’s cash balance to over 10m, putting it in a strong position to progress the recently commenced exploration program at its Tanami Heavy Rare Earth and Gold Project in the NT.
- Exploration programs are continuing with ground-based mapping and rock chip sampling in progress across multiple REE and gold targets.
- Heritage surveys are now scheduled for late May, paving the way for commencement of the planned ~35,000m air-core/RC drilling campaign in June.
The Placement, which comprised 23.75 million shares at an issue price of $0.40 per share, was undertaken in two tranches because it exceeded the Company’s existing 25% placement company under Listing Rules 7.1 and 7.1A.
Tranche 1, comprising 18,146,352 shares, was completed on 14 May. Tranche 2, comprising 5,603,648 shares, was completed with all proceeds now received.
Approval for both Tranche 1 and Tranche 2 was received at the Company’s General Meeting held on 12 May 2022.
The Placement was arranged and managed by CPS Capital Group Pty Ltd.
Following completion of the Placement, PVW now has 96,335,413 shares on issue and cash of over $10 million, putting it in a strong position to advance exploration programs at its flagship Tanami Heavy Rare Earth and Gold Project in the Northern Territory.
The Company recently commenced exploration at the Tanami Project (see ASX announcement, 26 April 2022), with extensive ground-based activities continuing on site including mapping and surface rock chip sampling.
Exploration is continuing along the 18km unconformity target to extend areas of known heavy rare earth mineralisation.
Heritage approvals are now scheduled to commence in late May which will pave the way for commencement of the Company’s first-ever drilling program in the Tanami in June.
An initial program of ~10,000m of Reverse Circulation and ~25,000m of air-core drilling is planned, with the initial priority expected to be RC drilling at the Killi Killi East and Watts Rise prospects.
Management Comment
PVW Resources Executive Director George Bauk said: “The successful completion of this landmark placement marks a key milestone for PVW in our journey to unlock the potential of our exciting Tanami REE and Gold Project.
“I would like to take this opportunity to thank the investors who participated in the Placement and our supporting brokers CPS Capital Group. We are delighted to have a number of significant new institutional and strategic investors join our register and we thank existing shareholders for their support.
“With a strong cash balance, PVW is now very well placed to move ahead with the comprehensive exploration programs we already have underway at this highly prospective, yet under-explored region. Current ground exploration activities are progressing well, and we are all now looking forward to the imminent commencement of drilling, which we expect will occur in June following completion of heritage surveys.”
Click here for the full ASX Release
This article includes content from PVW Resources Limited (ASX: PVW), 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
The Conversation (0)
15 April
Dalaroo Prepares Maiden Work Program for Blue Lagoon Zirconium, Niobium and Rare Earth Project in Greenland
Dalaroo Metals Ltd (ASX: DAL, “Dalaroo” or “Company”) is pleased to provide an update on planned activities at the Blue Lagoon Project in Greenland.
Highlights
- Dalaroo has advanced planning for upcoming maiden field season at the Blue Lagoon Zr- Nb-REE project, Greenland. Field work will be conducted towards the end of June 2025.
- A program of auger drilling, stream sediment and soil sampling and reconnaissance mapping and sampling has been designed to follow up on historical highly anomalous values returned in a regional stream sediment program undertaken by the Greenland and Denmark Geological Society (‘GEUS”) for uranium in 1979 (refer to ASX release 20th Feb, 2025).
- No follow-up work on these results has ever been reported on the tenement.
- Dalaroo has secured the services of highly respected and experienced Greenland geologist Ole Christiansen, who has been instrumental in the modern development of metals in Greenland, including Critical Metal’s (NASDAQ: CRML Critical Metals Corp) Tanbreez project.
- The Blue Lagoon Project has similar geochemical anomalous footprint to the Kvanefjeld (ASX: ETM Energy Transition Metals) and Kringlerne/Tanbreez multi-element deposits in South Greenland, showing enrichment in critical minerals and high value LREE elements from regional stream sediment sampling. These projects are all hosted within the south- west north-east trending Gadar alkaline intrusive province where Blue Lagoon Is also located.
- US administration has continued to show considerable interest in Greenland, highlighting the importance Greenland has for critical metals and their ownership.
- Auger drilling to sample alluvial and colluvial material will form a key part of the program. In situ weathering of the alkaline granite might provide bulk tonnage options from beach- like deposits, providing potential low-cost options for mining and separation. Characterising these deposits geochemically is the first step of the evaluation of this potential.
Dalaroo Metals MD & CEO, Mike Brown commented“We are excited to have advanced a maiden field program at Blue Lagoon, and also secured the services of renowned Greenland geologist Ole Chistiansen. Auger drilling of weathered granite areas will be a key objective of the program. Stream, soil and rock chip sampling and prospecting over the tenement will complete the program. This should provide the first insight into the potential of the project to host heavy mineral sands type deposits of strategic metals and REEs. Placer deposits have obvious benefits on the cost of mining. 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 in June and report results when in hand.”
Figure 1: Project location, GEUS regional stream sediment location and neodymium assay results
The large and highly anomalous zirconium, niobium and REE geochemical anomalies over the Project area provides a compelling multi-commodity exploration target. The Vendor has identified the presence of potential bulk tonnage ‘placer’ type deposits from in-situ weathered granite. This is characterised by highly anomalous LREE and Nb signature, which is very similar to the geochemical signature that coincides with 3 other significant REE deposits in South Greenland associated with Gadar Block alkaline intrusives. The Company is looking forward to reporting the results of the work program as they come to hand.
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.
Keep reading...Show less
26 March
High-Grade Discoveries Enhance Scale of Pelé Project
Brazilian Rare Earths Limited (ASX: BRE) (OTCQX: BRELY / OTCQX: BRETF) is pleased to report the results of exploration drilling at the Pelé Target 1 Project, located in Bahia, Brazil.
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)
Click here for the full ASX Release
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.
Keep reading...Show less
26 February
Ema Rare Earths Scoping Study Confirms Potential for Ultra Low CAPEX and OPEX Project, Showing Strong Financial Returns at Current Commodity Prices
Brazilian Critical Minerals Ltd (BCM or the Company) (ASX: BCM) advises of completion of a Scoping Study on its 100%-owned EMA Rare Earths Project (Ema Project) in southeastern Amazonas, Brazil.
The Scoping Study was completed utilising industry recognised experts in the Australian engineering group, Ausenco Pty Ltd (Ausenco), to assist with engineering and process flowsheet development, capital and operating costs as well as pre-tax financial modelling.
Brazilian GE21 completed the mineral resource estimation (MRE) and supervised the large drill program during 2024. The Australian Nuclear Science & Technology Organisation, ANSTO, was engaged for metallurgical work development from leaching recoveries, impurity removal, precipitation and final product MREC production, whilst international engineering group, WSP, were contracted for hydrogeological development, modelling and well field design.
SCOPING STUDY HIGHLIGHTS
- Sustained, operating scale: 4,800t pa of TREO production (average LOM) within a high-grade (55.3%) final MREC
- Unit cash operating costs of US$6.15/kg LOM TREO: Industry low TREO Opex
- Unit cash operating costs of US$16.95/kg LOM NdPr: Industry low NdPr Opex
- Pre-production capital cost of US$55M (inclusive of 35% contingency): Industry low capital requirement to produce MREC in Western world
- Post-tax NPV8% of US$498M: at LOM prices of US$74/kg NdPr
- Post-tax IRR of 55%: payback period calculated to 28 months
The Scoping Study incorporates the recent Ema Project mineral resource upgrade1 into the mine schedule to drive project simplification, permitting efficiency and development fast-tracking. It also incorporates capital and operating cost estimates. All other key input parameters were developed from first principal calculations and assumptions from existing referenced operations and were applied to the Scoping Study.
The Scoping Study delivers a post-tax NPV8% (US$498M), driven by producing a high-value mixed rare earth carbonate (MREC) product, low capital costs, minimal product extraction costs, simple low-cost processing infrastructure through a long-life Mineral Resource. This Scoping Study places the Ema Project as the western world’s lowest cost Rare Earth Project producing an MREC amenable for downstream processing.
Click here for the full ASX Release
This article includes content from Brazilian Critical Minerals 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.
Keep reading...Show less
19 February
Dalaroo Secures Option on Blue Lagoon Zirconium, Niobium and Rare Earth Project in Greenland
Dalaroo Metals Ltd (ASX: DAL, “Dalaroo” or “Company”) is pleased to advise that it has entered into a binding heads of agreement (“Agreement”) with Ox Resources Pty Ltd (“Vendor”) to potentially acquire the Zr-Nb-REE Blue Lagoon Project (tenement MEL 2022-07) (“Project”) located in the Gadar Province of South Greenland (refer Figure 1 and 3). The Project has been historically sampled as part of a regional stream sediment program undertaken by the Greenland and Denmark Geological Society (‘GEUS”) for uranium exploration in 1979.
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.
Keep reading...Show less
05 February
High Grade discoveries with enriched MREOs at Agostinho highlight Caldeira’s scale
Meteoric Resources NL (ASX: MEI) (Meteoric or the Company) is pleased to provide an update on recent drilling completed at the Agostinho Prospect (Figure 1), located in the north of its 100%-owned Caldeira Rare Earth Ionic Clay Project (Caldeira Project or Project), in the state of Minas Gerais, Brazil.
Highlights
- Exceptional ionic clay intercepts up to 19,183ppm Total Rare Earth Oxides (TREO)
- Enriched Magnetic Rare Earth Oxide (MREO) up to 6,691ppm
- MREO peak zones up to 38% with an average of 30.4%, an increase of 7.4% compared to the Global Resource average.
- Elevated Heavy Magnetic Rare Earths (HREO) up to 2% of TREO
- Drilled 3,301m for 116 holes with outstanding intercepts:
- AGOAC0107 - 24m @ 6,918ppm TREO [0m] with 27% MREO
- including 6m @ 19,183ppm TREO [2m] with 34.9% MREO
- AGOAC0110 - 22m @ 4,422ppm TREO [0m] with 27.7% MREO
- including 10m @ 7,831ppm TREO [0m] with 35.6% MREO
- AGOAC0079 - 28m @ 3,183ppm TREO [0m] with 26.9% MREO
- including 8m @ 7,462ppm TREO [0m] with 37.6% MREO
- AGOAC0098 - 28m @ 5,315ppm TREO [0m] with 27.4% MREO
- AGOAC0070 - 22m @ 4,890ppm TREO [0m] with 27% MREO
- AGOAC0092 - 22m @ 4,323ppm TREO [0m] with 27.2% MREO
- including 6m @ 19,183ppm TREO [2m] with 34.9% MREO
- Mineralisation averages 28.4m thickness from surface over of the entire License
Meteoric’s Chairman, Andrew Tunks said:“The exploration and drilling teams continue to identify additional high-grade areas across the Caldeira Project. These remarkable results confirm the extensive nature of mineralisation outside the current resource base. Further it highlights that there is considerable opportunity for Meteoric to target enriched zones of magnetic rare earths and heavy rare earths using our extensive database of project wide sampling which is unmatched inside the Caldera.
It’s important to remember that we have still only infill drilled eight of the 69 licenses available at the Project and continued identification of high-grade mineralisation creates greater optionality for the potential expansion of the Project, at the right time, to support the sustainable supply of rare earth materials to the western world.”
Click here for the full ASX Release
This article includes content from Meteoric 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.
Keep reading...Show less
05 July 2024
Seren Technologies Acquisition Update
Ionic Rare Earths Limited (Ionic RE or the Company) (ASX: IXR) is pleased to provide an update on the acquisition of 100% of Seren Technologies Limited (SerenTech), a UK private company with unique and leading-edge rare earth separation technology, as announced on 8 December 2021.
SerenTech is commercialising technology using ionic liquids for separation and refining of rare earth elements (REE), which includes the full cohort of the proposed basket from Makuutu, consisting of the lanthanides series, Lanthanum (La), to Lutetium (Lu), plus Scandium (Sc) and Yttrium (Y).
SerenTech has an exclusive “patent and know-how” licence from Queens University Belfast (QUB) allowing it to develop and commercialise the technology. Additionally, SerenTech has also developed know-how in this area and lodged a further four (4) global patents, providing a pipeline of opportunities in which to deploy the technology.
Click here for the full ASX Release
This article includes content from Ionic 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.
Keep reading...Show less
Latest News
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.