PVW Resources announced that it has identified multiple significant new REE anomalies from air-core drilling completed in 2022 at its 100%-owned Tanami Heavy Rare Earth and Gold Project in Western Australia, opening up exciting new opportunities for follow-up exploration in 2023. Following a lengthy wait for assay results, the Company has now received results from its extensive regional air-core program in 2022, successfully identifying new high-priority exploration targets and confirming the significant prospectivity of the Project. Importantly, the wide-spaced regional air-core drilling undertaken by the Company has proven to be a viable exploration technique for buried REE mineralisation in the Tanami.

Detailed ground gravity has also proven to be a very effective exploration tool, with the areas surveyed at Watts Rise and Castella both revealing additional detail to the sub-surface that will complement drilling and magnetics. By utilising the structural geological interpretation, detailed ground gravity, multi-element geochemistry of mineralisation and the host stratigraphy, the shallow regional REE results represent complementary targets to the exciting new Watts Rise Breccia Zone target identified in 2022. The wide-spaced air-core (AC) drilling completed in 2022 has provided a first-pass geological and geochemical coverage of the prospective stratigraphy across the project area, including the regional Pargee Sandstone/Killi Killi Formation unconformity and the Killi Killi Formation stratigraphy, south of the unconformity.

Yttrium readings recorded with the pXRF provided an indication of anomalous stratigraphy and structures that may host significant mineralisation (ASX PVW 24 October 2022, Latest assays confirm rare earths and gold potential at Tanami REE Project, WA). Multiple pXRF anomalies have been confirmed with air-core sample assays providing numerous targets for follow-up drilling. Targets are both related to the mineralisation at the unconformity and well beneath in the Killi Killi Formation.

Importantly, new hosting lithologies have been observed coinciding with the anomalous TREO assays. Highly elevated TREO results are associated with veining and intrusive mafic lithologies logged during the air-core drilling and visible in the airborne magnetics. The recently identified style of mineralisation provides a new target to consider in future exploration campaigns.

The geochemical knowledge (from both pXRF and assay results) gained from the regional air-core drilling provides a huge geochemical dataset. The interpretation of these datasets is ongoing and essential to the development of other exploration targets along the current 18km regional corridor and in other equally prospective areas of interest. The ground gravity surveys completed in late 2022 have been processed and the initial interpretation has highlighted several important outcomes.

These include a marked gravity low associated with alteration coincident and adjacent to the Watts Rise REE anomaly. New target prospects with anomalous TREO will be tested with the ground gravity in future programs as a logical and iterative step to long-term exploration in the Tanami.