PVW Resources has announced a strategic move into the burgeoning Brazilian rare earths industry by securing a significant position through a binding agreement to acquire Scanty Mineracao Ltda (“Scanty”). This acquisition brings PVW Resources a highly prospective portfolio of Rare Earth Element (REE) projects across four key areas in Brazil.
Key highlights:
- Strategic acquisition: PVW Resources has finalized a binding agreement to acquire Scanty Mineracao Ltda, which holds 11 REE projects covering a total area of 952 square kilometers. This acquisition provides PVW Resources with a promising pipeline of exploration opportunities in Brazil’s rapidly growing REE sector.
- Promising exploration opportunities: The portfolio includes highly prospective ionic clay REE projects located in strategically significant regions of Brazil. Brazil’s geological conditions are known for their potential to host significant ionic rare earth deposits, making it a critical area for emerging global REE production.
- Early successes: Initial due diligence has confirmed REE anomalism at the Sguario and Capáo Bonito projects using a portable X-Ray fluorescence analyzer (pXRF). This early exploration, conducted by Scanty, is set to be validated further, with historical results to be released upon confirmation.
- Exploration plans: PVW Resources will conduct surface sampling and auger drilling to validate existing targets and explore for additional REE mineralization in saprolite clay. The focus will be on confirming the extent of ionic clay-hosted mineralization.
- Expert team expansion: Luis Azevedo, an experienced Brazilian mining expert and vendor, will join PVW Resources as a non-executive Director upon completion of the transaction. Additionally, Celeste Queiroz, a geologist with 28 years of experience, including 23 years at Vale, will join as Country Manager – Brazil.
- Leveraging expertise: PVW Resources plans to leverage the extensive experience of its team in rare earths exploration and development to build a substantial new business in the rare earths sector. The acquisition of Scanty’s portfolio, selected with the help of independent Brazilian geological consultants, positions PVW Resources for significant new discoveries in underexplored areas.
Conclusion:
PVW Resources’ move into Brazil underscores its commitment to becoming a major player in the global rare earths industry. By acquiring Scanty Mineracao Ltda, PVW Resources gains access to a portfolio of highly prospective projects in a key emerging mining jurisdiction. This acquisition aligns with the company’s strategy to enhance its rare earths business and capitalize on the growing demand for these critical elements.
