Union Star Metals Ltd · ASX:USM
Union Star Metals — The Australian Rare Earth Conference 2022
26 slides from Union Star Metals's conference presentation, Nov 1, 2022
Slide 1: Exploring for Unconformity-Related REE Deposits
EXPLORING FOR UNCONFORMITY-RELATED REE DEPOSITS The Australian Rare Earth Conference, 1 November 2022 ASX : PVW PVW RESOURCES NOVEMBER 2022 | |Robin NOVEMBER Wilson,2022 Consultant Geologist
Slide 2: Disclaimer
DISCLAIMER PVW Resources ACN 124 541 466 Competent Person’s findings are presented have not been materially modified from the original market announcements. This document is neither a prospectus nor an offer to subscribe for Shares. PVW Resources ACN 124 541 466 (the Company) and its directors, empl
Slide 3: Acknowledgements
ACKNOWLEDGEMENTS PVW Resources Northern Minerals James Cook University – Teimoor Nazari-Dehkordi, Carl Spandler, Nick Oliver Australian Critical Minerals Research Centre - University of Adelaide Portable Spectral Services AXT Pty Ltd Outcrop of REE mineralised Pargee Sandstone (basal conglomerate) -
Slide 4: A Diversified, Well-Funded Explorer
A DIVERSIFIED, WELL-FUNDED EXPLORER Unlocking new Rare Earths and gold discoveries ► Specialist team – proven track record of Rare Earth Elements (REE) discovery and development ► Focused on the greenfields Tanami REE Project, WA: – 18km long corridor with strong potential for a major new unconformi
Slide 5: Corporate Overview
CORPORATE OVERVIEW Shares Share Market Cash on issue price capitalisation at bank* 96,335,413 14 cents $13.5m $7.3m Share price performance (ASX:PVW) Top shareholders Top 100 own 64.06% Jason Peterson 6.14% Lind Partners 5.64% Board 5.47% Other 82.75% 0 20 40 60 80 100 PVW RESOURCES | NOVEMBER 2022
Slide 6: Right Place – Tanami REE and Gold
RIGHT PLACE – TANAMI REE AND GOLD Large-scale discovery potential in Australia’s new Heavy Rare Earth province ASX : PVW PVW RESOURCES | NOVEMBER 2022 6
Slide 7: What Are Unconformity-Related REE Deposits (HURREE)
WHAT ARE UNCONFORMITY-RELATED REE DEPOSITS (“HURREE”) Similar geological setting to unconformity-related uranium deposits of Australia and Canada ► HURREE model first proposed by Nazar-Dehkordi et al, 2018 based on Browns Range ► Best known examples at Browns Range – e.g. Wolverine and Gambit deposi
Slide 8: Hydrothermal Unconformity Related REE (HURREE)
HYDROTHERMAL UNCONFORMITY RELATED REE (“HURREE”) Dazzler (ASX:NTU) Mineralisation dominated by xenotime – an yttrium rare earth phosphate mineral (Y(HRE)PO4) ► This style of REE mineralisation has no known links to magmatism ► Mineralisation predominantly structurally controlled occuring within stee
Slide 9: Hydrothermal Unconformity Related REE (HURREE)
HYDROTHERMAL UNCONFORMITY RELATED REE (“HURREE”) Browns Range Model ► Nazar-Dehkordi et al, 2018 proposed leaching of HREEs from Browns Range Metamorphics ► P-bearing acidic fluids from overlying sandstones of Birrindudu Basin in fault zones near the unconformity ► Fluid mixing of P and HREEs in a l
Slide 10: HURREE – Mineralisation and Alteration Style
HURREE – MINERALISATION AND ALTERATION STYLE Drill core from Wolverine, Browns Range (ASX:NTU) Pargee Sandstone hosted mineralisation at Castella prospect (12.45% TREO) ► Different styles of alteration , veining and brecciation ► Widely dispersed sericite-illite alteration up to 20m from mineralised
Slide 11: HURREE – Mineralisation and Alteration Style
HURREE – MINERALISATION AND ALTERATION STYLE ► Castella-Watts Rise – less brecciation observed but strong association with hematite alteration ► Disseminated style mineralisation in Pargee Sandstone – coarse grained/gravel/conglom erate units (TATO002, 003) ► Breccia hosted mineralisation in Killi K
Slide 12: HURREE – Simple REE Mineralogy
HURREE – SIMPLE REE MINERALOGY ► Xenotime dominant with lesser florencite (light rare earth aluminium phosphate) ► Exceptionally high HREO:TREO ratios (up to 89%) ► Xenotime has many textural forms – disseminations/net textures (10-30 microns) and clusters, matrix infill within breccias, vein selved
Slide 13: Other Examples of Unconformity Related REE
OTHER EXAMPLES OF UNCONFORMITY RELATED REE Maw Zone in the Athabasca Basin, Canada1 ► Xenotime deposit hosted in brecciated sandstones (Athabasca Group) – above the unconformity ie. equivalent to Gardiner or Pargee Sandstone ► Associated with silicification, hematisation and tourmalinisation ► Eleva
Slide 14: Tanami – An Emerging Heavy Rare Earths Province
TANAMI – AN EMERGING HEAVY RARE EARTHS PROVINCE ► Northern Minerals’ Browns Range Project, ~90km to the BROWNS RANGE north of PVW’s project. Recently updated resource of 81,450t PROJECT TREO (88% HREO) 81,450t TREO (NTU) ► PVW’S Tanami Project ~1,270km2 area with historical REE and gold results – bu
Slide 15: Regional Geological Setting of the Tanami
REGIONAL GEOLOGICAL SETTING OF THE TANAMI ► 1970-80s exploration focused on unconformity-uranium. ► Xenotime mineralisation PNC discovered rare earths occurs across a large area of (xenotime) in late 1980s at Northern Australia – in Area 5 (Browns Range) particular around the margins of the Victoria
Slide 16: Tanami Stratigraphy
TANAMI STRATIGRAPHY ► Browns Range Metamorphics ► Xenotime mineralisation at (ca. 3-2.5Ga) – meta-arenites Browns Range mostly occurs and arkoses with gravel and within the Browns Range conglomerate units Metamorphics (minor in * REE Gardiner Sandstone) Mineralisation ► Killi Killi Formation (<1840M
Slide 17: Three Key Ingredients for Unconformity Related REE
THREE KEY INGREDIENTS FOR UNCONFORMITY RELATED REE PVWs Tanami Project has the right ingredients: Fault 1 2 3 Castella Prospect Unconformity 22TARC002 - 2m @ 6,496 ppm TREO Major EW shear The right stratigraphic setting Unconformity between the Pargee The right style of mineralisation Structures (fa
Slide 18: It's Xenotime!
IT’S XENOTIME! ► Mineralogy study has confirmed heavy rare earths at Castella-Watts Rise are related to the rare earth mineral xenotime ► Heavy rare earths comprise on average 80% of TREO for samples >1% TREO ► Dysprosium and Terbium around 7% and 0.7-1% respectively (comparable with Browns Range) ►
Slide 19: Maiden Drilling Program - Regional REE Targets
MAIDEN DRILLING PROGRAM - REGIONAL REE TARGETS 2022 program completed Initial program of 10,727m of RC drilling, 16,206m of air-core completed, targeting REE and gold mineralisation: ► Encouragement from RC drilling at Castella and Watts Rise, with stratiform/structural REE mineralisation in Pargee
Slide 20: Watts Rise/Castella – One or Two Mineral Systems?
WATTS RISE/CASTELLA – ONE OR TWO MINERAL SYSTEMS? Watts Rise oblique view of the Y/Sr pXRF anomaly and unconformity Gold and REE mineralisation proximal ► Rock chips up to 8.94g/t Au at Castella and 8m @ 2.58g/t Au from recent RC drilling at Watts Rise (in Pargee Sandstone) ► Gold mineralisation pro
Slide 21: Watts Rise – REE and Au
WATTS RISE – REE and Au RC drilling shows early encouragement ► Pargee Sandstone hosted REE and Au mineralisation at Watts Rise. ► RC drilling results include: ‒ 2m @ 0.80% TREO (579 ppm Dy2O3, 5,001 ppm Y2O3) (22TARC101) ► Excellent gold drilling results at Watts Rise include: ‒ 22TARC104 – 16m @ 1
Slide 22: Castella – Widespread Mineralisation in Initial Drilling
CASTELLA – WIDESPREAD MINERALISATION IN INITIAL DRILLING Castella RC results confirm surface REE mineralisation ► Assays returned show some high grade TREO, with modest widths. Best results to date: ‒ 22TARC002 – 2m @ 0.65% (6,496 ppm) TREO (296 ppm Dy2O3, 2,347 ppm Y2O3) from 3m, including 1m @ 0.9
Slide 23: Geological Setting Confirmed – Next Steps
GEOLOGICAL SETTING CONFIRMED – NEXT STEPS ► REE regional exploration 1 program will continue to 1 focus on the 18km corridor between Watts Rise and Castella 1 ► A detailed ground gravity survey is underway to provide information and targets at depth 1 ► Detailed structural and lithogeochemical mappi
Slide 24: Hydrothermal Unconformity Related REE: Exploration Methodologies
HYDROTHERMAL UNCONFORMITY RELATED REE Exploration methodologies – what works ► Airborne radiometrics – uranium channel when outcropping – lots of false positives ► Aeromagnetics – importance of defining controlling structures ► Detailed ground radiometrics (scintillometer) – honing in on drill targe
Slide 25: Hydrothermal Unconformity Related REE: Exploration Challenges
HYDROTHERMAL UNCONFORMITY RELATED REE Exploration challenges ► Structurally controlled deposits can have a small areal footprint –200-300 metres strike length, 10- 20m wide (similar to unconformity-related uranium deposits) ► Limited geochemical dispersion halo – particularly in the Tanami ► No dire
Slide 26: Thank You
THANK YOU Scan here to join our mailing list PVW Resources Limited Contacts Media Enquiries – Level 3, 1138 Hay Street George Bauk Read Corporate West Perth WA, 6005 T: +61 (0)408 931 746 Nicholas Read PO Box 300 E: george@totode.com.au T: +61 (0)419 929 046 West Perth WA, 6872 Robin Wilson pvwresou
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