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Orion to sell 65% stake in Tanami West tenements to PVW Resources for A$250,000

Orion Metals Ltd. said Aug. 30 that it agreed to sell its 65% stake in seven exploration tenements in the Tanami West lanthanides and gold project in Western Australia to PVW Tanami, a subsidiary of PVW Resources NL, for A$250,000.

PVW has earlier earned a 35% participating rights in the property, including the tenements, with rights to acquire up to a 90% interest in the Tanami West, including the tenements under a farm-in agreement entered into by PVW and Orion Metals in February 2018.

The farm-in agreement will be terminated upon completion of the sale.