- PVW Resources (PVW) receives assays from the Jungle Well prospect, which is located in the Leonora region of Western Australia
- The company completed a 33-hole drilling program to update the current inferred mineral resource
- Latest results include grades of up to 7.73 grams of gold per tonne (g/t) and 10.1g/t gold, which build on previous results that returned up to 16.13g/t
- Exploration is continuing within the Leonora region with a geophysical survey to commence soon
- PVW’s shares ended the day 2.7 per cent in the red to close at 18 cents
PVW Resources (PVW) has received results from drilling at the Jungle Well prospect which is located in the Leonora region of Western Australia.
In April this year, the company completed a 33-hole reverse circulation (RC) drilling program that covered 2872 metres of the Jungle Well area.
The program aimed to improve the existing mineral resource estimate, and test for and extend mineralisation.
The Jungle Well pit has a maiden inferred resource of 735,000 tonnes at 1.1 grams of gold per tonne (g/t) for 26,800 ounces.
PVW already received assays from the first 12 holes and the latest ones account for the remaining 21.
New assays include 11 metres at 1.89g/t from 86 metres, including two metres at 7.73g/t gold from 87 metres; two metres at 5.44g/t gold from 74 metres including one metre at 10.1g/t gold from 75 metres; and six metres at 1.69g/t gold from 86 metres including two metres at 4.75g/t gold from 90 metres.
These build on previously reported results of nine metres at 3.87g/t gold from 46 metres including two metres at 16.13g/t gold from 46 metres.
Executive Director George Bauk was pleased with the new batch of results.
“Continued positive results from our RC drill program at Jungle Well puts us in a favourable position to build on the existing JORC resource,” he said.
“As regional exploration continues in Leonora, and on all PVW’s projects we are entering a very exciting period, after just five months from listing.”
To support the mineral resource estimate and planned operations for Jungle Well, the WA explorer has also been reviewing historical heap leach testwork and may conduct further testwork itself.
The company has also had to reschedule a geophysical survey at the project area due to recent wet weather in the Goldfields. It’s expected to begin some time this month.
PVW’s shares ended the day 2.7 per cent in the red to close at 18 cents.