PVW Resources has completed its acquisition of Southern Prospecting, gaining full ownership of the Cobb Creek Project in Nevada with a historical gold estimate of 173,000 ounces. The move marks a significant shift towards North American precious metals exploration.
- Acquisition of Southern Prospecting completed, securing Cobb Creek Project
- Historical gold estimate of 173,000 ounces at 1.4 g/t Au at Cobb Creek
- Additional projects acquired in Idaho’s Central Gold Belt
- Consideration securities issued with staged escrow release
- Board refreshed with Martin Walter appointed Non-Executive Director
Acquisition Completion and Strategic Shift
PVW Resources Limited has officially completed the acquisition of Southern Prospecting Pty Ltd, marking a pivotal expansion of its asset base into the prolific gold regions of the United States. This acquisition secures 100% ownership of the Cobb Creek Project in Nevada, a property situated within the Independence Gold Trend, a corridor known for significant gold deposits parallel to the renowned Carlin Trend.
The Cobb Creek Project boasts a historical NI 43-101 gold estimate of approximately 173,000 ounces at an average grade of 1.4 grams per tonne. While this estimate is not yet JORC-compliant and requires further validation, the historical drilling results reveal promising broad zones of near-surface gold mineralisation, including intercepts such as 33.5 metres at 1.9 g/t gold and 30.5 metres at 1.7 g/t gold.
Expanding the US Portfolio
Beyond Nevada, PVW’s acquisition also encompasses the Colorado Gulch and Silverstar Projects in Idaho’s Central Gold Belt, a historic precious metals district. These projects feature historical underground workings with recorded gold and silver mineralisation, though modern systematic exploration remains limited. PVW plans to advance permitting, geophysical surveys, and target refinement across these assets, signalling a comprehensive exploration strategy across its US portfolio.
Consideration and Board Changes
To complete the acquisition, PVW issued 200 million fully paid ordinary shares and 100 million options exercisable at 2.5 cents each, subject to a staged escrow release over 12 months. Additionally, broker and introductory fee securities were issued as approved by shareholders. The transaction also prompted a board refresh, with Martin Walter, former CEO of Southern Prospecting, appointed as a Non-Executive Director to bolster the company’s technical and commercial expertise in North American exploration. Concurrently, Luis Azevedo resigned, reflecting PVW’s strategic pivot from its previous Brazilian focus.
Looking Ahead
PVW is set to progress permitting activities at Cobb Creek, initiate reconnaissance and validation programs in Idaho, and refine exploration targets with a view to unlocking the full potential of these historically significant gold and silver projects. While the historical resource estimates require further work to meet JORC standards, the acquisition positions PVW as a growing player in a highly prospective region.
Bottom Line?
PVW’s acquisition marks a decisive step into US gold exploration, but the path to resource validation and development remains a critical watchpoint.
Questions in the middle?
- How soon can PVW convert the historical gold estimates into JORC-compliant resources?
- What impact will the staged escrow release have on PVW’s share price and liquidity?
- How will Martin Walter’s appointment influence the pace and success of exploration programs?