Pursuit Minerals Identifies 3.5km of Vanadium Strike

THE DRILL SERGEANT: Pursuit Minerals (ASX: PUR) located extensions to vanadium mineralisation at the company’s Airijoki project in Northern Sweden, just in time for the Brisbane Mining 2018 Conference next week.

Pursuit Minerals conducted rock chip sampling of 3.5 kilometres of highly magnetic meta-diabase rock that defined extensions of mineralisation previously identified by historical drill holes K-AIR1 and K-AIR5.

Pursuit re-assayed intercepts from these historic holes in August 2018, from which it identified substantial thicknesses of vanadium mineralisation in magnetite concentrate including:

178 metres at 1.33 per cent vanadium pentoxide (V2O5) from 9m, including 16m at 2.03 per cent V2O5 from 171.3m; and

10m at 2.01 per cent V2O5.

Pursuit has planned a drill program, to commence in early November, to test the 3.5km strike extension of the vanadium mineralisation, with the objective of defining an initial JORC Inferred Mineral Resource.

Pursuit said the re-sampling of the two historical drill holes at Airijoki showed the vanadium mineralisation to be extremely thick in sections and produced very high-grade vanadium in magnetite concentrates.

“The meta-diabase rock hosting the mineralisation is highly magnetic and using our recently collected heli-magnetic data we were able to map and sample the meta-diabase unit for a further 3.5 kilometres north of holes K-AIR1 and K-AIR5,” Pursuit Minerals managing director Jeremy Read said in the company’s announcement to the Australian Securities Exchange.

“The rock chip samples show vanadium mineralisation at surface along the outcropping meta-diabase unit which has provided the technical justification for Pursuit to proceed with a drilling program to define a JORC Inferred Mineral Resource for Airijoki.”


Email: info@pursuitminerals.com.au

Website: www.pursuitminerals.com.au