PVW Resources advised that the Company's maiden drilling program has commenced at the 100%-owned Tanami Heavy Rare Earth and Gold Project in the Tanami region of the Northern Territory. The drilling program is expected to comprise approximately 10,000m of Reverse Circulation (RC) drilling and 25,000m of air-core (AC) drilling, with a primary focus on extending areas of known Heavy Rare Earth (HRE) mineralisation. RC drilling is now underway at the Castella prospect (previously named Killi Killi East), where rock chip sampling undertaken by PVW Resources in 2021 returned high-grade results of up to 12.45% Total Rare Earth Oxides (TREO).

Following the completion of the Castella program, the RC rig will then move to the Watts Rise prospect, located 12km north-west of Castella, where rock chip results of up to 9.26% TREO have been returned. The RC program will be followed by AC drilling, which is expected to commence in September, targeting strike extensions at the Serpa and Nesa prospects. PVW Resources considers the entire 18km of unconformity that extends between Nesa in the north-west and Castella in the south-east to have a favourable geological setting for further HRE discoveries, with this area to be the core focus of ongoing drilling and exploration programs.