PVW Resources Limited (ASX:PVW) has completed the acquisition of the Tanami Project in Western Australia from Orion Metals Limited (ASX:ORM) following the final payment of $120,000.
The company now holds 100% interest in the seven tenements across three project areas - Tanami, Leonora and Kalgoorlie - as part of the sale agreement.
“Commencing exploration in June quarter”
PVW Resources executive director George Bauk said: “This completes the acquisition of the company’s tenement holdings across the three project areas.
“The company has 100% ownership of all tenements allowing us to explore across all the regions.
“The Tanami Project has significant potential, and we look forward to commencing our on-ground exploration efforts early in the June quarter.
“We have some exciting results to follow up from the last exploration on this ground in the early 2010s including 12 metres at 2.94 g/t from surface and 5 metres at 6.99 g/t also from surface.”
Tanami Project location plan.
Seismic data review
Southern Geoscience Consultants (SGC) has been engaged to compile and interpret the publicly available gravity, seismic and remote sensing data.
The use of these geophysical and remote datasets will assist in ensuring future drilling campaigns are effective, with satellite data an excellent tool for the discrimination of various geological bodies and unites in undisturbed areas.
A depth to magnetic basement analysis will also be completed over a small area to assess the application of the technique in predicting the cover depth, again aiming to improve the effectiveness of future drilling campaigns.
SGC will also commence planning for a detailed airborne survey for quarter two of 2021.