Follow up drilling at the JE Zone intersects zinc and lead mineralisation

Pursuit has started it’s 2018 drilling program with success, uncovering a new zinc mineralised system within the JE Zone at the Paperbark project in northwest Queensland.

Following up evidence of weathered zinc and lead mineralisation discovered in the 2017 drilling program, Pursuit’s first drill hole of 2018 has located zinc and lead sulphide mineralisation over a down hole depth of 51.4m, from 202.0m to 253.4m.

37 samples from this drill hole have been submitted for geochemical analysis and two further drill holes will be completed to test the potential of the JE Zone.

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High grade vanadium mineralization identified at Finnish project

Pursuit has hit the ground running on its Scandinavian vanadium projects, uncovering historical drilling data which demonstrates high grade vanadium mineralization within the Koitelainen project in Finland.

Nine drill holes have been identified at the Koitelainen V prospect on the Koitelainen project in northern Finland which produced magnetite concentrates with exceptional grades of V2O5. The magnetite concentrates from these nine holes have vanadium values ranging from 2.0-3.7% V2O5 and average 2.3% V2O5. Twenty-seven drill holes have been drilled at the Koitelainen V prospect.

Globally, magnetite concentrates containing V2O5 in excess of 1.5% are considered high grade and only the Maracas Mine in Brazil (3% V2O5 in magnetite concentrate) and the Rhovan mine in South Africa (2.3% V2O5 in magnetite concentrate) produce magnetite concentrates with vanadium levels consistently above 2.2% V2O5.

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Follow-up drilling begins at Pursuit Minerals’ Paperbark project

Following a successful drilling program in 2017, Pursuit has commenced the next stage of its drilling program at the promising zinc-lead Paperbark project in northwest Queensland.

Five drill holes will be completed for total of 1325m of drilling, with three holes targeting the new zinc discovery within the projects JE Zone Prospect in order to determine the extent and grade of zinc sulphide mineralization within the zone.

Pursuit is continuing to investigate copper potential within the Grunter North Prospect, with a fourth hole planned to test the down dip extent of surficial copper mineralisation.

The fifth and final hole of this first round of drilling will test for shallow extensions to the JB Zone Mineral Resource to determine if there is an at-depth connection between the JB and JE Zones.

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In hot pursuit of Scandinavian battery metal

Pursuit has announced its plans to explore for vanadium – a highly sought-after battery metal – in Sweden and Finland.

With the world moving to renewable energy and several European countries looking to phase out internal combustion engine vehicles by 2040, vanadium-based batteries are set to have an increasingly important role to play in energy storage in the near future.

Pursuit Minerals Managing Director Jeremy Read said the company couldn’t miss an opportunity to explore for a promising metal in a world-class minerals region.

“With the localisation of the energy grid, due to increasing renewable energy production, and global transport fleets moving to electric vehicles, the world is requiring more vanadium due to its use in vanadium redox batteries,” Mr Read said.

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