The Airijoki project is located in Northern Sweden, approximately 55km east of the mining town of Kiruna and 9km north-west of the village of Vittangi.
Pursuit has four granted Exploration Licences (Airijoki 100, 101, 102, 103) covering a total area of 32 sq km. Historic exploration work from the 1980’s identified vanadium mineralisation within a magnetite gabbro unit that is part of the Vittangi Greenstone Belt.
In November and early December 2018, Pursuit completed a drill program at Airijoki, drilling 18 holes for 2,876m.
Pursuit retained Measured Group to estimate an Inferred Mineral Resource for the Airijoki Project. Measured Group reported an Inferred Mineral Resource for the Project of 44.3 million tonnes, containing 5.9 million tonnes of magnetite @ 1.7% V2O5 (in magnetite concentrate), for 100,800 tonnes of V2O5 based on 13.3% mass recovery of magnetite concentrate and a cut-off of 0.7% V compiled in accordance with JORC 2012.
See Pursuit Minerals ASX Announcement 22 January 2019 and 5 February 2019. The Company is not aware of any new information or data that materially affects the information contained in the above announcements, except as detailed in this announcement.
Competent Person’s Statement
Statements contained here relating to historical exploration results, exploration results produced by Pursuit Minerals and historical estimates of mineralisation are based on, and fairly represents, information and supporting documentation prepared by Mr Jeremy Read, who is a member of the Australian Institute of Mining & Metallurgy (AusIMM), Member No 224610. Mr Read is a full-time employee of the Company and has sufficient relevant experience in relation to the mineralisation styles being reported on to qualify as a Competent Person as defined in the Australian Code for Reporting of Identified Mineral Resources and Ore Reserves (JORC) Code 2012. Mr Read consents to the use of this information in this announcement in the form and context in which it appears. Statements contained in this announcement relating to the Airijoki Project Inferred Mineral Resource are based on, and fairly represent, information and supporting documentation prepared by Mr Chris Grove, who is a member of the Australian Institute of Mining & Metallurgy (AusIMM), Member No 310106. Mr Grove is a full-time employee of the mineral resource consulting company “Measured Group”, which was contracted by Pursuit Minerals Limited to prepare estimates of the Inferred Mineral Resources at Airijoki. Mr Grove has sufficient relevant experience in relation to the mineralisation styles being reported on to qualify as a Competent Person as defined in the Australian Code for Reporting of Identified Mineral Resources and Ore Reserves (JORC) Code 2012. Mr Grove consents to the use of this information in this announcement in the form and context in which it appears.
The Sumåssjön, Kramsta, Simesvallen-Svedåsen and Kullberget-Storåsen projects offer Pursuit an opportunity to explore across a large vanadium rich system, close to regional infrastructure and just 300km from the Swedish capital of Stockholm.
Historical trial mining and drilling within these projects has revealed extensive iron-titanium-vanadium mineralisation across the four sites.
Pursuit will undertake exploration activities including geophysical surveys, mapping, sampling and drilling in order to determine the extent of mineralisation and identify sites for more focussed drilling.
Historic trial mining and drilling has demonstrated iron-titanium-vanadium mineralisation