- PVW Resources (PVW) receives assays from rock chip sampling at the Tanami project in WA
- Thirteen out of 17 samples from the Killi Killi East prospect return assays above one per cent total rare earth oxides (TREO) and one of three from Watts Rise return 3.9 per cent
- Peak TREO assays include 12.45 per cent including 11,592 parts per million (ppm) dysprosium, and gold rock chips have returned up to 8.94g/t from Killi Killi East
- PVW is about to begin follow-up sampling and surveying at the project to determine its potential
- Company shares have spiked 40.5 per cent to trade at 26 cents at 1:13 pm AEDT
PVW Resources (PVW) has received assays from a field program at the Tanami project in northern Western Australia.
The field work included rock chip sampling and reconnaissance geological mapping at the Killi Killi East and Watts Rise prospects. While results are pending for soil sampling, the company has received assays for the 20 rock chip samples.
Of the 17 samples taken from Killi Killi East, 13 returned assays above one per cent total rare earth oxides (TREO) and one of the three rock chips from Watts Rise assayed 3.9 per cent TREO.
The average ratio of heavy rare earths to TREO for the 15 samples with greater than one per cent is around 80 per cent TREO. The company believes the dominance of heavy rare earths suggests the mineralisation is related to xenotime which is a rare earth mineral.
Peak TREO assays include 12.45 per cent including 11,592 parts per million (ppm) dysprosium and 9.26 per cent TREO including 7070ppm dysprosium.
In terms of gold, rock chips from Killi Killi East returned 8.94 grams of gold per tonne (g/t) and 4.43g/t gold.
Executive Director George Bauk said the results were significant.
“We now know so much more about this style of mineralisation and what we have uncovered to date at Killi Killi indicates there is significant potential within the Killi Killi
Corridor, which is over two kilometres long, and the regional target of over 18 kilometres along the Killi Killi East/Watts Rise trend,” he said.
“With the knowledge gained over the past decade, PVW Resources is in a position to drive an aggressive exploration program to determine the potential of this project.”
The company is currently waiting on results from an airborne magnetic and radiometric survey. Follow-up geochemical soil sampling and ground radiometrics are about to recommence at the Killi Killi East prospect prior to metallurgical and mineralogical studies.
Company shares had spiked 40.5 per cent to trade at 26 cents at 1:13 pm AEDT.