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Pursuit Minerals Ltd.
Summary
| Project: | Paperbark | |
|---|---|---|
| Deposit: | Bluebush | |
| Location: | Australia | |
| Commodities: | Zinc-Lead | |
| Date: | 9/25/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-9-2018: Pursuit Minerals Ltd. announces an Exploration/Drilling Update report for its Bluebush deposit at the Paperbark project. Drilling results incl. 78m @ 0.81% Zn, 0.25% Pb from 236m. Pursuit Minerals Limited (ASX: PUR) has completed its 2018 drill | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Jeremy Read (Internal) | |
| ABSTRACT: | Pursuit Minerals Limited (ASX: PUR) has completed its 2018 drilling program at the Bluebush Project with four combined mud-rotary / diamond holes drilled for 1,669m. The holes were focussed in the north-west quadrant of the Bluebush Project area where drilling in 2017 had determined that zinc-lead mineralisation occurs which is higher grade than the approximately 1% zinc+lead mineralisation which is ubiquitous across the Bluebush Project area. The Bluebush Project is 100% owned by Pursuit Minerals following its acquisition from Teck (Australia) Pty Ltd in 2017. The zinc-lead mineralisation intersected in the four holes drilled in 2018 was substantially thicker than the mineralisation intersected in 2017. Hole BB03-17, drilled in 2017, intersected 20m of sulphides, drill hole BB04-17 intersected 35m of sulphides and drill hole BB05-17 intersected 34m of sulphides. Holes BB06-18, BB07-18 and BB09-18, completed in 2018, intersected zinc-lead sulphides of thickness 78, 49 and 89m respectively. When considered in conjunction with the drilling from 2017, the 2018 results confirm that the north-west quadrant of the Bluebush Project contains a major accumulation of zinc-lead sulphides of substantial thickness. To date the best intersection in this zone of thick sulphides is 3m @ 7.61% Zn+Pb in drill hole BB03-172 . Pursuit Minerals Managing Director Jeremy Read said the results from the four holes drilled in 2018 confirmed that the zinc-lead mineralisation within the Bluebush Project area was concentrated within the north-west of the corner of the project area, in close proximity to the Boga Fault Zone. “In 2018, across the four holes we drilled into the north-west corner of the Bluebush Project area, we intersected zinc-lead mineralisation varying between 49-89m thick, indicating that a substantial focussing of mineralisation has occurred in this region,” Mr Read said. “The drilling in 2017 also intersected thick sequences of zinc-lead mineralisation, varying from 20- 35m thick, but this year, the intersections of mineralisation we achieved were at another level and very encouraging,” he said. “The results have advanced our understanding of the Bluebush zinc system and we will continue to develop our exploration model to determine how to progress the Bluebush Project,” Mr Read said. | |
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