Proactiveinvestors Australia Pursuit Minerals Ltd Proactiveinvestors Australia Pursuit Minerals Ltd RSS feed en Sat, 20 Jul 2019 22:17:08 +1000 Genera CMS (Proactiveinvestors) (Proactiveinvestors) <![CDATA[News - Pursuit Minerals confirms high-grade vanadium magnetite concentrates at Koitelainen Project ]]> Pursuit Minerals Ltd (ASX:PUR) has received geochemical results from the re-sampling of 11 historical drill holes at the Koitelainen Vosa Prospect within the Koitelainen Project in northern Finland.

The vanadium mineralisation produced exceptionally high-grade vanadium magnetite concentrates with the majority ranging from 2.0 – 2.6% V2O5 (vanadium pentoxide).

Highlight results for the vanadium magnetite concentrates include 29.9 metres at 2.4% V2O5, 11.6 metres at 2.8% V2O5 and 38.2 metres at 2.6% V2O5.

Re-sampled historical drill holes at Koitelainen Vosa Prospect

Notably, the grades of vanadium magnetite concentrates exceeded 2.4% over significant intervals in many holes, placing the Koitelainen magnetite concentrate amongst the highest grades globally.

Further geochemical results will soon be received for an additional five historical drill holes from the Koitelainen Vosa Prospect.

Pursuit's projects in Finland

The geochemical data from all 16 re-assayed historical drill holes will also allow the Exploration Target at Koitelainen Vosa to be upgraded to a JORC Inferred Mineral Resource, with the intention of reporting it in February 2019.

Following the definition of an inferred resource for Koitelainen Vosa, Pursuit aims to complete a scoping study before the end of April 2019.

READ: Pursuit Minerals’ drilling extends zinc-lead zone at the Paperbark Project

Pursuit managing director Jeremy Read said: “There are some exceptional results in the geochemical data we have just received.

“The overall mineralised package of rocks varies from 9 metres to 97 metres thick, with the majority of the vanadium mineralisation being 20 metres to 30 metres thick.

“Most of the magnetite concentrates produced are grading in excess of 2% V2O5, with some values in excess of 3% V2O5, which is super high grade for a vanadium magnetite concentrate and differentiates the Koitelainen Project from most other pre-production vanadium projects.”

Shift to renewable energy

Vanadium redox flow batteries are increasingly being used for energy storage requirements.

With Europe rapidly transforming its energy grid to renewable energy, which will require large increases in battery storage, Pursuit’s projects are well placed to participate in the energy revolution underway in the region.

Wed, 09 Jan 2019 13:41:00 +1100
<![CDATA[News - Pursuit Minerals’ drilling extends zinc-lead zone at the Paperbark Project ]]> Pursuit Minerals Ltd (ASX:PUR) has intersected substantial widths of zinc-lead mineralisation in a hole planned to test the southeast extensions of the JB Zone at its Paperbark Project in Queensland.

Significantly, zinc and lead mineralisation has been confirmed over a 91-metre down hole interval from 122 metres, with zinc+lead values up to 5.05% recorded.

Highlight intervals of zinc and lead mineralisation include:
• 18 metres at 1.59% zinc & 0.01% lead from 168 metres; and
• 14 metres at 0.84% zinc and 0.14% lead from 122 metres.

Project background

The Paperbark Project covers an area of about 70 square kilometres located near the Century Mine in north-west Queensland.

During its 16 years of operation, Century was one of the largest zinc mines in the world, producing and processing an average of 475,00 tonnes per annum (tpa) zinc concentrate and 50,000 tpa lead concentrate.

Pursuit has already defined a JORC 2012 inferred resource of 10.4 million tonnes at 2.7% zinc, 0.2% lead, 1 g/t silver for the JB Zone within the project.

Extension of JB Zone mineralisation confirmed

The zinc-lead mineralisation intersected in the latest drill hole occurs in the same geological sequences as the JB Zone resource and is characterised by three higher grade zones.

Pursuit managing director Jeremy Read said the results from drill hole PB07-18 confirmed the mineralisation of the JB Zone extends at least 90 metres to the southeast of the existing JB Zone resource.

Read added “The substantial width of zinc-lead mineralisation, the three higher grade zones and the fact that the mineralisation occurs in the same rocks, all suggest that the mineralisation intersected in hole PB07-18 is an extension of the mineralisation that is included in the JB Zone mineral resource.

“Consequently, the potential to substantially increase the JB Zone mineral resource is high.”

Wed, 18 Jul 2018 16:02:00 +1000