Pursuit Minerals Limited (ASX:PUR) (“Pursuit” or the “Company”) completed its maiden 8-hole diamond drilling program at Phil’s Hill Prospect at Calingiri East during the December quarter (Figure 1). Phil’s Hill lies 26km south of Caravel Minerals’ Caravel Cu Project (1.8 million tonnes Cu).
A review of the results has highlighted an Ag-Au-Cu-As-Mo-Co-Bi sulphide mineral association with silver mineralisation up to 8.4 g/t, as reported in previous ASX releases. The Company notes strong surface enrichment of silver at a number of locations. Additional analysis of near-surface drill core across the prospect will be completed shortly along with additional sampling adjacent to the anomalous downhole zones located.
These assay results confirm that that the Company has located a significant mineralising system at Phil’s Hill, which suggests an orogenic gold signature. Our technical team are now focussed on finding the core of the system and will be working to extend our geochemical coverage of the Project area.
The Company has started a major 40 km2 auger geochemistry program from Phil’s Hill to Ablett Prospects and follow-up Air Core (AC) drill program in April 2022.
 Caravel Minerals – https://caravelminerals.com.au/resource/