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Pursuit Minerals Ltd.
Summary
| Project: | Koitelainen | |
|---|---|---|
| Deposit: | V | |
| Location: | Finland | |
| Commodities: | Vanadium | |
| Date: | 5/10/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 10-5-2018: Pursuit Minerals Ltd. announces an Exploration/Drilling Update report for its V deposit at the Koitelainen project. Drilling results incl. 10m @ 2.7% V2O5 from 16.85m. Pursuit Minerals Limited (ASX: PUR) (Pursuit or the Company) is pleased to a | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Jeremy Read (Internal) | |
| ABSTRACT: | Pursuit Minerals Limited (ASX: PUR) (Pursuit or the Company) is pleased to announce that through compilation of historical drilling and assay data, nine drill holes have been identified at the Koitelainen V prospect on the Koitelainen Project in northern Finland which produced magnetite concentrates with exceptional grades of V2O5 . The magnetite concentrates from these nine holes have vanadium values ranging from 2.0-3.7% V2O5 and average 2.3% V2O5. Twenty-seven drill holes have been drilled at the Koitelainen V prospect. Globally, magnetite concentrates containing V2O5 in excess of 1.5% are considered high grade and only the Maracas Mine in Brazil (3% V2O5 in magnetite concentrate) and the Rhovan mine in South Africa (2.3% V2O5 in magnetite concentrate) produce magnetite concentrates with vanadium levels consistently above 2.2% V2O5. Tando Resources recently announced that the SPD Vanadium Project in South Africa produces magnetite concentrates averaging 2.0% V2O5 (see ASX Announcement by Tando Resources, 27 March 2018), while Australian Vanadium’s Gabanintha Project produces magnetite concentrates averaging 1.43% V2O5 (see ASX Announcement by Australian Vanadium, 24 April 2018). Pursuit Minerals Managing Director Jeremy Read said that the V2O5 grades of the magnetite concentrates produced from the nine high-grade vanadium holes in the southern section of Koitelainen V prospect were exceptional and indicate the highly prospective nature of the Koitelainen V prospect | |
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