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Pursuit Minerals Ltd.
Summary
| Project: | Koitelainen | |
|---|---|---|
| Deposit: | Vosa | |
| Location: | Finland | |
| Commodities: | Vanadium | |
| Date: | 9/12/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 12-9-2018: Pursuit Minerals Ltd. announces a Resource Estimation report for its Vosa deposit at the Koitelainen project. Amended previous announcement retracting statements. On 12 September 2018 Pursuit Minerals (ASX:PUR) (“Pursuit”, the “Company”) releas | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Not stated (n/a) | |
| ABSTRACT: | On 12 September 2018 Pursuit Minerals (ASX:PUR) (“Pursuit”, the “Company”) released to the market announcements titled “Exploration Target for Koitelainen Vosa Vanadium Prospect” and “Company Presentation” that report the estimation of an Exploration Target for the Koitelainen Vanadium Project. Following discussions with the ASX, Pursuit hereby retracts the peer comparison information contained in those announcements. Retracted Statements: Table One – “Koitelainen Vosa Project Comparison” on page 7 of the announcement ““Exploration Target for Koitelainen Vosa Vanadium Prospect” and slide 17 “Koitelainen Vosa Prospect vs Maracas Mine, Brazil” of the “Company Presentation” compared various metrics of the Koitelainen Vosa Project to the Maracas vanadium mine in Brazil. As disclosed in the comparison, the Koitelainen Project is an advanced exploration project whereas the Maracas Project is a fully permitted, producing mine and as such the two projects have significantly different risk profiles. Slide 16 “Vanadium – Vanadium in Magnetite Concentrate” of the “Company Presentation” provides a peer comparison of grade and tonnage of the Koitelainen Project Exploration Target to the grade and tonnage of vanadium resources reported by the peer group. The comparison does not provide other relevant information in relation to the peer group including the stage of development of the peers’ projects or the different categorisations of the peer group resources. Accordingly Table One – “Koitelainen Vosa Project Comparison” on page 7 of the announcement “Exploration Target for Koitelainen Vosa Vanadium Prospect”, and slide 17 “Koitelainen Vosa Prospect vs Maracas Mine, Brazil” of the “Company Presentation” and any references thereto are retracted. Slide 16 “Vanadium – Vanadium in Magnetite Concentrate” of the “Company Presentation” and any references thereto are retracted. Investors should not rely on the retracted information as a basis for an investment decision in relation to Pursuit’s shares. | |
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