Date: Oct 11, 2018
Special report: Pursuit Minerals told investors yesterday its recent re-sampling of historical drill holes at its Airijoki project showed that the vanadium mineralisation was ‘extremely’ thick and produced very high-grade vanadium in magnetite concentrates.
Pursuit (ASX:PUR) re-assayed intercepts from the historic drill holes in August, finding vanadium intersections of substantial thickness – up to 178 metres and grades ranging from 1.33 – 2.03% V2O5 in magnetite concentrates.
Vanadium grades above 2 percent in magnetite concentrate are considered world-class.
Pursuit also found that the magnetic anomaly associated with the vanadium mineralisation covers a larger area than first expected.
Rock chip samples from the surface indicate that high-grade vanadium mineralisation extends a further 3.5km northeast of the historical drill holes.
The company says it is now planning for drilling to start early next month, subject to approvals.
Opportunities abound
Pursuit was granted an exploration license for the Airijoki Project in April this year, gaining access to two of the area’s nine historical drill holes.
It’s just one part of Pursuit’s portfolio of world-class vanadium projects in Scandinavia.
