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Pursuit Minerals Ltd.
Summary
| Project: | Koitelainen | |
|---|---|---|
| Deposit: | Vosa | |
| Location: | Finland | |
| Commodities: | Vanadium | |
| Date: | 7/30/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 30-7-2018: Pursuit Minerals Ltd. announces an Exploration/Drilling Update report for its Vosa deposit at the Koitelainen project. Historic drilling results incl. 40.85m @ 2.39% V2O5 from 15.55m. Pursuit Minerals Limited (ASX: PUR) has reviewed historical | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Jeremy Read (Internal) | |
| ABSTRACT: | Pursuit Minerals Limited (ASX: PUR) has reviewed historical drilling and assay data at the Koitelainen Vosa prospect in northern Finland and identified errors in the compilation of historical data, which was supplied to Pursuit, that resulted in the vanadium grades of magnetite concentrates in the northern section of the prospect being substantially understated. Following the review, Pursuit has identified six drill holes in the northern section of the Koitelainen Vosa prospect which produced magnetite concentrates with grades of V2O5 ranging from 0.59 – 1.88% V2O5, not ranging from 0.10 – 0.35% V2O5 as previously reported. These six holes are in addition to nine holes in the southern section of the Koitelainen Vosa prospect that previously had been identified as producing exceptional grade vanadium in magnetite concentrate. Therefore, 15 of the 27 historical drill holes drilled at the Koitelainen Vosa prospect produced magnetite concentrates with highly encouraging grades of V2O5. In an ASX Announcement of 10 May 2018, Pursuit released historical data from six drill holes in the northern section showing vanadium grades, in magnetite concentrate, ranging from 0.10 – 0.35% V2O5. This was based upon data supplied from the Geological Survey of Finland in an Excel spreadsheet detailing the vanadium content of magnetite concentrates from drill holes at Koitelainen Vosa. Further data compilation by Pursuit work recognised that these vanadium assay values, which were historically reported as the vanadium grades of the magnetite concentrate, were in fact vanadium grades of waste material. Pursuit has able to determine this error by recently accessing the original hardcopy assay data sheets for the drill holes at Koitelainen Vosa and ascertained that the correct vanadium values, in magnetite concentrate, varied from 0.59 – 1.88% V2O5 - much higher than the 0.10 – 0.35% V2O5 grades previously reported. | |
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