Warrior PGE-Nickel-Copper Project
Highly prospective land position of 648 km2 in emerging PGE-Ni-Cu terrane covering a series of prominent magnetic anomalies similar to Chalice’s Gonneville discovery on the Julimar Project, 20km to the south
In February 2021, Pursuit flew a detailed airborne EM survey over the Calingiri East, Calingiri West, Wubin, and Wubin South exploration licences on the Warrior PGE-Nickel-Copper Project. Several conductive features identified at Phil’s Hill were followed up with moving loop ground EM (“MLEM”) confirming the airborne conductors were discrete basement conductors.
In May 2021, the Company announced that highly conductive features (up to 5,093 S/m) were evident on 9 lines of MLEM data over a strike length of ~1,600 m. The modelled depth to top of the conductors is ~100 m and coincident with the edge of an interpreted ultramafic sequence. The conductance of the Phil’s Hill Prospect is significant and well within the known range of conductance for the Gonneville PGE-Ni-Cu discovery. The June 2021 MLEM extension programme successfully closed off the Phil’s Hill conductive package both north and south confirming the highly conductive anomalies are discrete.
The Company commenced drilling the Phil’s Hill 1,500m diamond drilling program in August 2021 at the promising PGE-nickel-copper prospect in Western Australia. As part of the Company’s ongoing ESG plans we utilise solids retrieval unit which separates the solids from the liquids and stops the cuttings and drilling fluids from being deposited into the paddock.
On 16 December 2021, the Company announced it had entered into a 12-month option agreement to acquire the highly prospective Commando Gold Project, comprising 100% of granted tenements, E24/199, M24/282, M24/485, M24/503, M24/641, P24/4958, P24/4959, P24/4960, P24/4961, P24/4967 and P24/5192.
The Commando Gold Project lies just 38 km north of Kalgoorlie and is significantly under-explored compared to surrounding areas (Figure 5). Past drilling has highlighted numerous significant gold drilling intersections for immediate follow-up and the Project creates compelling counter-seasonal exploration synergies with Pursuit’s Warrior and other WA Projects.
In consideration for the option, Pursuit paid $160,000 in cash, $240,000 in Pursuit shares issued at a price of 2.81c each (being ~8.5m shares and 2.5m unlisted Pursuit options – exercisable at 2.81c each on or before 23/12/2024). The Commando Gold Project is divided into the Federal West and Paddington North tenements blocks (Figures 4, 5) with P24/4967 which lies just 19km north of Kalgoorlie near the Gidji roaster. P24/4967 is completely unexplored.
Combatant PGE-Ni-Cu Project
The Combatant PGE-Ni-Cu Project lies approximately 270km northeast from Geraldton and 210km west of Meekatharra, within the Narryer Terrain geological province which host mafic and ultramafic rocks that contain significant PGE-Ni-Cu-Au mineralisation, including the Irrida Hill Project (Desert Metals: ASX DM1).
Sampling and reconnaissance completed during the quarter, has identified 3 ultramafic units at Garden Well (E09/2497), Currie Currie Bore (E 09/5496) and Murrum Creek (E 09/5496) (Figure 7).
Gladiator Project comprises 4 exploration licences located 10km northwest of Laverton in Western Australia.
The project tenements occur within the Laverton Greenstone Belt in the Eastern Goldfields Province of the Archaean Yilgarn Craton and are located in close proximity to the Beasley Creek Mine, which produced 798,314t @ 2.59g/t Au and the Lancefield Mine, which produced 1.32 million ounces of gold.
The Company is reviewing existing geological and geophysical information followed by a Heritage survey and AC testing of targets anticipated in the second half of 2022.