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Pursuit Minerals Ltd.
Summary
| Project: | Simesvallen | |
|---|---|---|
| Deposit: | Simesvallen | |
| Location: | Sweden | |
| Commodities: | Vanadium | |
| Date: | 10/29/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 29-10-2018: Pursuit Minerals Ltd. announces an Exploration/Drilling Update report for its Simesvallen deposit at the Simesvallen project. old drillholes, new assay results incl. 24m @ 0.36% V2O5 from 22m. Pursuit Minerals Limited (ASX:PUR) re-assayed two | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Jeremy Read (Internal) | |
| ABSTRACT: | Pursuit Minerals Limited (ASX:PUR) re-assayed two historical drill holes on the Simesvallen Vanadium Project in Central Sweden, receiving highly encouraging results from both holes sampled. The re-sampling confirmed the vanadium mineralisation present at Simesvallen produces high-grade vanadium in magnetite concentrates, in excess of 1.5% V2O5. The vanadium mineralisation is associated with a high amplitude magnetic anomaly which is approximately 1.5km in strike length and undrilled to the east of historical hole SIM82003 - the drill hole which produced the highest-grade vanadium mineralisation. The results from Simesvallen build upon earlier results released from historical drilling on the Koitelainen (Finland) and Airijoki (Sweden) Projects, confirming that all three projects contain vanadium mineralisation capable of producing high-grade vanadium in magnetite concentrates. Pursuit Minerals Managing Director Jeremy Read said the results from the Simesvallen Project showed that Pursuit has been able to assemble a high-quality portfolio of vanadium projects in Sweden and Finland providing the company with multiple opportunities to create shareholder value. “Similar to the results we previously released from the Airijoki Project in northern Sweden, these results from the Simesvallen Project confirm that the vanadium mineralisation is able to produce high-grade vanadium in magnetite concentrates. “The vanadium mineralisation is associated with a 1.5km strike length magnetic anomaly, which is undrilled to the east of the best drill hole SIM82003, indicating the vanadium mineralisation is potentially more extensive and at high vanadium grades,” Mr. Read said. | |
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