PVW Resources NL (ASX:PVW) has tenement applications in place for three large exploration licences covering 950 square kilometres at Ballinue Project on highly prospective ground in the West Yilgarn Nickel-Copper-PGE Province of Western Australia.
Recent success by numerous explorers such as Chalice Mining Ltd (ASX:CHN), Pursuit Minerals Ltd (ASX:PUR), Caspin Resources Ltd (ASX:CPN), Todd River Resources Ltd (ASX:TRT) and Desert Metals Ltd (ASX:DM1) attest to the exploration potential within the province.
The company plans to begin the assessment of magnetic anomalies as soon as exploration tenure is granted.
Shares have been as much as 22% higher intra-day to 16.5 cents.
"Excited by prospect of a new project"
PVW executive director George Bauk said: “We are excited by the prospect of a new project with nickel-copper-PGE potential in the Mid-West of Western Australia.
“Located around 300 kilometres from Geraldton, the project provides PVW with exposure to the West Yilgarn Nickel-Copper-PGE Province.”
Highly underexplored
Recent success by explorers including Chalice has demonstrated that these terrains are highly under-explored for nickel-copper-PGE mineralisation.
The fertility of the Yilgarn Craton margin is further attested by success gained by many other companies within the highly prospective West Yilgarn province.
WA’s Department of Mines, Industry Regulation and Safety has accepted the company’s three new tenement applications covering 950 square kilometres, a large landholding in this sought-after region.
The applications are within the Youanmi Terrane and Narryer Terrane, both highly prospective subdivisions of the Yilgarn Craton, and potential hosts of layered mafic-ultramafic complexes with nickel-copper-PGE mineralisation.
Bauk said: “We have developed a low-cost entry into this exciting province through a number of new tenement applications.”
Low-impact regional exploration
Once the Ballinue Project is granted, the company intends to start low-impact regional exploration such as soil sampling, mapping and reconnaissance to confirm target areas.
Detailed geophysics and geochemistry will be key to testing regional geophysical anomalies and identifying new targets.
While PVW is focused on exploring for gold at its three core projects, the addition of the Ballinue Project provides the company with medium-term options for organic growth through discovery.