Pursuit has applied for two Mineral Reservations of 175km2 covering the Koitelainen igneous intrusion in northern Finland. The site of promising historical mineral estimates of Vanadium, Pursuit’s strategy is to compile all historical data relevant to these projects in order to plan a targeted drilling program at the site.
The Koitelainen UC prospect contains an historical mineral estimate of 70Mt @ 0.4% V (0.7% V2O5), 14.4% Cr and 1.1g/t Platinum Group Elements and the Koitelainen V historical mineral estimate is 15Mt @ 0.2% V (0.4 V2O5%). The historical mineral estimates for the Koitelainen and Karhujupukka Projects are historical estimates and are not reported in accordance with the JORC Code. A Competent Person has not done sufficient work to classify the historical estimates as Mineral Resources in accordance with the JORC Code. It is uncertain that following evaluation and/or further valuation work that the historical estimates will be able to be reported as Mineral Resources in accordance with the JORC code.
Vanadium mineralisation at Koitelainen is estimated to be near the surface, making it an ideal site for open pit extraction.