PVW Resources NL (ASX:PVW) has made strong progress in ongoing exploration at the Tanami REE/Gold Project within the Kimberley district of Western Australia.
The field program completed thus far has included geochemical soil sampling, rock chip sampling, ground radio metrics and reconnaissance geological mapping at the Killi Killi East and Watts Rise prospects.
In addition to the on-ground field program, re-processing and interpretation of the airborne magnetic and radiometric data from a survey completed in September has been completed which revealed several potential new rare earth element (REE) targets that will require on ground follow-up in the 2022 field season
Furthermore, PVW has received key government approvals for drill programs at Watts Rise and Killi Killi East proposed for early 2022 at the end of the northern wet season.
“Positive progress continues”
PVW executive director George Bauk said: “Positive progress continues at PVW’s Tanami Rare Earth’s Project in Western Australia with new targets being identified from recent airborne surveys along strike from our existing prospects.
“Field work continued to identify REE mineralisation and we look forward to the results.
“A bulk sample has been collected for metallurgical test-work.”
Ongoing activities
Metallurgical and mineralogical samples were collected from outcropping mineralisation at Killi Killi East and Watts Rise to fast-track processing studies.
Notably, PVW has been granted a key tenement along strike from the Killi Killi prospect.
Furthermore, the company has received government approvals for drill programs at Watts Rise and Killi Killi East proposed for early 2022 at the end of the northern wet season.
Bauk adds: “We have recently been granted a key tenement in the past month and we have also received government approvals for our upcoming drill program.
“We look forward to drilling both Watts Rise and Killi Killi East after the northern wet season with this program planned to commence in early 2022 having recently obtained government approvals.”
Example of rare earth mineralised Pargee Sandstone from Killi Killi East.
Surge in rare earth prices
Rare earth prices have risen over the 2021 calendar year for all the critical elements, with many elements hitting yearly highs.
Bauk adds: Our exploration success in the Tanami has corresponded with strong growth in rare earth pricing in recent months with many of these critical minerals reaching highs for 2021.
“Dysprosium oxide FOB China is currently US$470/kg, up from the decade-low prices of US$190/kg in 2018. “
Forward plan
PVW is set to begin its mineralogical studies this month to identify main rare earth minerals and characterisation of dominant host rock at Tanami
The company will also conduct initial metallurgical test-work between November to February 2022.
Notably, a strategic workshop is planned this month to identify a pathway forward to accelerate the development of the Killi Killi REE project.
Geochemical assay results will be released between December and January 2022.
Furthermore, the PVW aims to kick-off drilling at Watts Rise, Killi Killi East and regional targets upon completion of the aboriginal heritage survey in June quarter 2022.