Date: Apr 13, 2018
SHARES in Pursuit Minerals spiked this morning after the Queensland-focused explorer flagged a move into the vanadium space with applications in Finland and Sweden, the latter being where the metal was first named after Vanadís, the Scandinavian goddess of beauty and fertility.
The company had earlier flagged a move into the battery metals space.
Licences have been secured in Finland over the the Koitelainen and Karhujupukka projects, while granting of the Sumåssjön, Kramsta, Simesvallen-Svedåsen, Kullberget-Storåsen and Airijoki projects in Sweden is expected to take 2-3 months.
There is a historical mineral estimate for the Koitelainen Upper Chromite Reef of 70 million tonnes grading 0.7% vanadium pentoxide, 14.4% chromium and 1.1 grams per tonne platinum group elements and 15Mt at 0.4 V2O5% for the Koitelainen vanadium Reef.
While the Koitelainen Intrusion is known to be extensive with a possible 60km strike it is not well drilled with just 122 diamond holes for 15,475m across the entire structure to support the 1997 resource.
