THE DRILL SERGEANT: PVW Resources (ASX: PVW) is set to commence exploration activities on the Watt Rise prospect at the company’s Tanami project in Western Australia.
PVW Resources will be following a path laid by previous owners that drilled gold mineralisation at Watts Rise in 2010.
The ground-based exploration program commencing in August at the Watts Rise prospect will test for surface gold and pathfinders along the Watts Trend and further afield, using an airborne geophysical survey with the aim of completing detailed geophysical coverage of the Tanami project.
Subsequent interpretation of airborne geophysics will focus on defining new regional drill targets for gold and rare earth elements and refining existing targets in preparation for drilling later this year.
“It is hard to believe that the last hole drilled at the project, which intersected highly significant mineralisation, has not been followed up in nearly a decade,” PVW Resources executive director George Bauk said in the company’s ASX announcement.
“Drilling at the Watts Rise prospect has intersected multiple gold horizons but there has been a lack of detailed geological interpretation undertaken by previous explorers.
“We are now on the ground and about to commence the next chapter of exploration.
“Over the past decade, we have seen Northern Star develop a significant land holding in the Tanami Region and most recently Encounter Resources has announced its intent to spin out its Tanami project into a new company focussed on the region.
“The potential of the region is highlighted by the world class Callie deposit which is owned and operated by Newmont Gold, the world’s largest gold company.
“Only a handful of companies hold significant land positions in the region, and we are 100 per cent holders of over 1,000 square kilometres of contiguous tenements with outstanding drill intersections to work with.
“Our team is employing a structured approach to the exploration activities with the completion of detailed airborne geophysical coverage and on ground activities prior to the company’s maiden Tanami drilling program planned for the end of the year.
“The project is well serviced with the Tanami Road intersecting the southern part of our tenement holding and the Coyote Gold Mine Camp provides a convenient and close base to operate from.
“We have expertise in our team on a number of fronts including a long history of exploring in the area for multiple commodities, gold exploration expertise globally and operational experience in the immediate region.
“The journey is now beginning for PVW in the Tanami and we look forward to the outcomes of our efforts in the coming quarters and years.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE