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Pursuit Minerals Ltd.
Summary
| Project: | Airijoki | |
|---|---|---|
| Deposit: | Airijoki | |
| Location: | Sweden | |
| Commodities: | Vanadium | |
| Date: | 2/5/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 5-2-2019: Pursuit Minerals Ltd. announces an Exploration/Drilling Update report for its Airijoki deposit at the Airijoki project. Drilling results incl. 56.0m @ 1.4% V2O5 from 47.0m. Pursuit Minerals Limited (ASX: PUR) has received geochemical results for | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Jeremy Read (Internal) | |
| ABSTRACT: | Pursuit Minerals Limited (ASX: PUR) has received geochemical results for vanadium magnetite concentrates from nine holes drilled into the Northeast Magnetic Zone on the Airijoki Project in northern Sweden (Figure One). The results from the vanadium magnetite concentrates confirm that the vanadium mineralisation from the Northeast Magnetic Zone produces high-grade magnetite concentrates over a strike length of 1.9km, with the vanadium mineralisation being open to the northeast and at depth. These excellent results from the Northeast Magnetic Zone follow recent results for the Southwest Magnetic Zone, which showed the mineralisation in that area produced vanadium magnetite concentrates of exceptional grade and thickness. Drilling into the Southwest Magnetic Zone produced vanadium magnetite concentrates over thicknesses of up to 213 metres, and with vanadium grades of up to 2.4%. (See ASX Release of 22 January 2019). The vanadium magnetite concentrates from the Northeast Magnetic Zone, produced by Davis Tube Recovery (DTR), varied from 1.2 – 1.8% V2O5 and averaged 1.6% V2O5. The mineralisation varies in down hole thickness from 6.0 – 56.0m and averages 32.7m. Drill holes AIR18-012, AIR18-015 and AIR18-018 had maximum V2O5 grades in the magnetite concentrate of 1.8%, 1.8% and 1.7% respectively. Globally, the average vanadium magnetite concentrate grades from vanadium projects and mines varies from 1.3 – 1.4% V2O5, so the vanadium magnetite concentrates produced from the Northeast Magnetic Zone at Airijoki are considered high grade in a global context. Pursuit Minerals Managing Director Jeremy Read said the drilling program completed in December 2018 confirmed that the Northeast Magnetic Zone was a major new vanadium discovery | |
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