Date: Jan 9, 2019
Pursuit Minerals (ASX: PUR) will forge ahead with a scoping study for its Koitelainen Vosa prospect in northern Finland after results confirmed the presence of high-grade vanadium magnetite concentrate.
The Brisbane-based company said the geochemical results were retrieved from the re-sampling of 11 historical drill holes, with grades of vanadium magnetite concentrate exceeding 2.4% over significant intervals.
Results from the re-sampling include 29.9m at 2.4% vanadium pentoxide, 11.6m at 2.8% vanadium pentoxide, 38.2m at 2.6% vanadium pentoxide and 6.2m at 3.3% vanadium pentoxide.
Pursuit Minerals managing director Jeremy Read said the “extremely encouraging” results could underpin the delivery of an inferred resource towards the upper end of the prospect’s exploration target range.
“Most of the magnetite concentrates produced are grading in excess of 2% vanadium pentoxide, with some values in excess of 3% vanadium pentoxide, which is super high grade for a vanadium magnetite concentrate and differentiates the Koitelainen project from most other pre-production vanadium projects,” he said.
