Join our daily newsletter At The Bell to receive exclusive market insights
- Pursuit Minerals (PUR) receives heritage clearance for drilling at the Phil’s Hill prospect which is part of its Warrior Project in WA
- Before the company can officially begin drilling however, its program of work application must be approved and this is expected by the end of the month
- Additionally, Pursuit has received positive sampling results which confirmed the presence of platinum group elements (PGEs), nickel, copper and gold across various tenements at the Warrior Project
- Drilling is expected to start in July and the company will also conduct survey work later this month to identify anomalism at depth
- Pursuit’s shares are up 1.25 per cent to trade at 8.1 cents at 12:09 pm AEST
Pursuit Minerals (PUR) has officially received heritage clearance to undertake drilling at the Phil’s Hill prospect which is part of its Warrior Project in WA.
The only thing standing between the company and the drilling program is having the program of work application approved. This is expected to be received by the end of the month.
Additionally, Pursuit received results for soil and rock samples collected over the Warrior Project. The company collected 123 soil and 29 rock samples from the Calingiri East, Calingiri West and Bindi Bindi tenements.
Pleasingly, the program confirmed the presence of anomalous platinum group elements (PGEs), nickel, copper and gold associated with mafic-ultramafic rocks which are the host for PGE-nickel-copper mineralisation at Chalice Mining’s Julimar discovery.
Thirty eight samples assayed high levels of gold-platinum-palladium combined anomalism with maximum values of 385 parts per billion.
Rock chip samples also returned anomalous copper of up to 729 parts per million (ppm), anomalous nickel of over 200ppm and anomalous chrome values of more than 3000ppm.
“Our objective is to commence drilling targets in early to mid-July subject to government approvals. The results from our regional programs will also be followed up and start to contribute to a pipeline of drillable prospects,” Managing Director Mark Freeman said.
Pursuit will also conduct survey work later this month to identify anomalism at depth.
Company shares were up 1.25 per cent to trade at 8.1 cents at 12:09 pm AEST.
