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Pursuit Minerals Ltd.
Summary
| Project: | Paperbark | |
|---|---|---|
| Deposit: | JE Zone | |
| Location: | Australia | |
| Commodities: | Zinc-Lead | |
| Date: | 6/12/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-6-2018: Pursuit Minerals Ltd. announces an Exploration/Drilling Update report for its JE Zone deposit at the Paperbark project. Drilling results incl. 12m @ 1.65% Zn, 0.35% Pb from 214m. Pursuit Minerals Limited (ASX: PUR) has intersected substantial w | |
| Resources: | (Resource, Inf.): 10.4Mt @ 2.7% Zn, 0.2% Pb, 1g/t Ag | |
| CP/QP: | [Overall Report]: Jeremy Read (Internal) | |
| ABSTRACT: | Pursuit Minerals Limited (ASX: PUR) has intersected substantial widths of zinc-lead mineralisation in the first hole drilled following the discovery of zinc mineralisation at the JE Zone on the Paperbark Project in 2017. Zinc and lead mineralisation has been confirmed over a 53m down hole interval from 201m in hole PB05-18, with zinc+lead values up to 3.5% recorded. The zinc-lead mineralisation intersected in drill hole PB05-18 occurs in the same geological sequences as the zinc-lead mineralisation at the JB Zone Mineral Resource, with three higher grade zones. Consequently, it is highly probable that the zinc-lead mineralised areas in the JB and JE Zones are part of one large zinc mineralised system, indicating potential exists to greatly expand the existing Mineral Resource at the JB Zone. Geochemical data is pending for drill hole PB07-18, which intersected 108m of zinc-lead mineralisation and occurs between drill hole PB05-18, at the JE Zone, and the current eastern limit of the JB Zone Mineral Resource. Pursuit Minerals Managing Director Jeremy Read said the results from drill hole PB05-18 confirmed the JE Zone as a major new zinc system, which probably is an extension of the JB Zone Mineral Resource, 750m to the north-west. “The substantial width of zinc-lead mineralisation intersected in hole PB05-18, the three higher grade zones and the fact that the mineralisation occurs in the same rocks, all suggest that the JE Zone is a lateral extension of the JB Zone Mineral Resource,” Mr Read said. “Consequently, the potential to substantially increase the JB Zone Mineral Resource is high and the results we are waiting for from hole PB07-18, where 108m of zinc-lead mineralisation was intersected, will give us more confidence regarding the connection between the JB and JE Zones,” he said. | |
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