Date: Aug 14, 2018
Continuing its focus on Scandinavian vanadium assets, Pursuit Minerals Limited (ASX:PUR) has applied for a Mineral Reservation covering the Ala Postojoki vanadium project in northern Finland. Being able to apply for this project on open ground demonstrated the opportunity to obtain highly prospective vanadium projects in a very cost-effective manner in Finland.
This follows PUR being granted Exploration Tenements in Sweden and Project Reservations in Finland earlier this year, covering projects with historical deposits of vanadium and extensive confirmed areas of vanadium mineralisation.
The Ala Postojoki project in Finland is close to the west of PUT’s Koitelainen vanadium project.
PUR’s application for one Mineral Reservation of 50 square kilometres covering the Ala Postojoiki vanadium project in northern Finland was accepted by the Mining Authority Unit of the Finnish Safety and Chemical Agency (TUKES), which is responsible for managing mining tenements in Finland. As there are no competing application, PUR expects the Ala Postojoki Mineral reservation to be confirmed within the next one to two months.
When confirmed, the Mineral Reservation will allow the company to conduct non-ground disturbing exploration activities.
The Ala Postojoki Mineral Reservation covers an intense magnetic anomaly with a 3.5 kilometre strike length. Two holes have previously been drilled into the source of the magnetic anomaly, confirming vanadium mineralisation within magnetic amphibole rock.
Of course, as with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.
