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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