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Pursuit Minerals Identifies 3.5km of Vanadium Strike

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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:

K-AIR1
178 metres at 1.33 per cent vanadium pentoxide (V2O5) from 9m, including 16m at 2.03 per cent V2O5 from 171.3m; and

K-AIR51
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

 

Pursuit Minerals Generates Swedish Drill Targets

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THE DRILL SERGEANT: Pursuit Minerals (ASX: PUR) has generated drill tet targets from a low-level heli-magnetic survey completed over the company’s Airijoki project in northern Sweden.

Pursuit Minerals explained the purpose of the survey was to map magnetic anomalies associated with vanadium mineralisation.

The company said the heli-mag data located intense magnetic anomalies which extend for a further 3.5 kilometres along strike to the north-east of the vanadium intersections encountered in historical holes.

The results from the heli-magnetic survey have increased the company’s confidence in the potential of the Airijoki project to host a large body of vanadium mineralisation.

“The meta-diabase rock hosting the vanadium mineralisation produces a very high amplitude magnetic anomaly which we can easily locate in the heli-magnetic data and which extends a further 3.5 kilometres to the north-east of drill holes K-AIR1 and K-AIR5,” Pursuit Minerals managing director Jeremy Read said in the company’s announcement to the Australian Securities Exchange.

“Also, directly associated with the heli-magnetic anomaly in the south of the Airijoki project area, are very high-grade rock chip samples which contain up to 1.1 per cent vanadium pentoxide (V2O5) in whole rock samples.

“The high-grade rock chips at surface, the 3.5 kilometre heli-magnetic anomaly and the substantial thicknesses of vanadium mineralisation in historical holes K-AIR1 and K-AIR5, all suggest Airijoki has the potential to host a significant body of vanadium mineralisation.”

 

Email: info@pursuitminerals.com.au

Website: www.pursuitminerals.com.au