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Pursuit Minerals Ltd.
Summary
| Project: | Koitelainen | |
|---|---|---|
| Deposit: | Vosa | |
| Location: | Finland | |
| Commodities: | Vanadium | |
| Date: | 1/9/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 9-1-2019: Pursuit Minerals Ltd. announces an Exploration/Drilling Update report for its Vosa deposit at the Koitelainen project. Geochemical results for 11 historical drill holes incl. 38.2m @ 2.6% V2O5. Pursuit Minerals Limited (ASX: PUR) has received ge | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Jeremy Read (Internal) | |
| ABSTRACT: | Pursuit Minerals Limited (ASX: PUR) has received geochemical results from the re-sampling of 11 historical drill holes from the Koitelainen Vosa Prospect, on the Koitelainen Project in northern Finland (Figure One). The vanadium mineralisation produces exceptionally high-grade vanadium magnetite concentrates with the majority ranging from 2.0 – 2.6% V2O5. Intervals in holes M374176R333, M374176R306 and M374176R305 recorded magnetite concentrate values of 3.6, 3.3% and 3.1% V2O5, respectively. The Koitelainen Vosa Prospect has an estimated Exploration Target of 80 - 105Mt, containing 4.0 - 10.5Mt of magnetite @ 2.0 - 2.3% V2O5 (in magnetite concentrate) for 80,000 - 241,000 tonnes of V2O5. The Exploration Target was estimated in accordance with JORC (2012), utilising data from 3,742m of drilling from 25 historical drill holes. Pursuit Minerals Managing Director Jeremy Read said the results from the historical holes reassayed from the Koitelainen Vosa Prospect were extremely encouraging and confirmed the Koitelainen Vosa vanadium mineralisation produces very high-grade magnetite concentrates, in the upper echelon of all vanadium projects globally, which has the potential to deliver an Inferred Resource towards the upper end of the Exploration Target Range. “There are some exceptional results in the geochemical data we have just received,” Mr Read said. “The overall mineralised package of rocks varies from 9m to 97m thick, with the majority of the vanadium mineralisation being 20m to 30m thick. “Most of the magnetite concentrates produced are grading in excess of 2% V2O5, with some values in excess of 3% V2O5, which is super high grade for a vanadium magnetite concentrate and differentiates the Koitelainen Project from most other pre-production vanadium projects,” Mr Read said. | |
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