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- Pursuit Minerals (PUR) completes its first two holes at the Phil’s Hill prospect in WA
- Initial samples from the first hole, as part of the 1500-metre diamond drilling program, have been sent to the lab for analysis, with early results revealing sulphides
- The company says surveys will be undertaken this week to determine the offset location and orientation of the conductive plates to re-focus the ongoing drilling program
- The rig has been returned to Mt Magnet Drilling’s Perth yard for mandated servicing but will come back to site once results have been received
- Pursuit Minerals last traded at 5.9 cents on September 3
Pursuit Minerals (PUR) has completed its first two holes at the Phil’s Hill prospect, located within the Calingiri East tenement in WA.
Initial samples from the first holes, as part of the 1500-metre diamond drilling program, have been sent to the lab for analysis.
Results from the first hole showed a number of sulphides, while the second returning narrow zones of pyrite, pyrrhotite and chalcopyrite.
Pursuit Managing Director, Mark Freeman, said the drilling results from the first two holes indicate the company is on the right track.
“The geophysics clearly indicate conductive plates and the decision to pause drilling and run DHEM will ensure that our ongoing program will be focussed on locating the rocks giving a strong conductive response,” said Mark Freeman.
“Pursuit’s technical team have done a phenomenal job drilling the first two holes on budget and without any complications.
“We look forward to recommencing drilling the next two weeks.”
However, the company noted the results suggest there could be multiple, high-conductance plates that surface and airborne electromagnetic techniques cannot resolve beyond a very large high conductance plate.
It therefore said it hopes an electromagnetic survey, undertaken this week, will offer more resolution and allow better targeting of the conductors. The survey results will also aim to determine the offset location and orientation of the conductive plates in order to re-focus the ongoing drilling program.
The rig has now been returned to Mt Magnet Drilling’s Perth yard for mandated servicing but will be returned to site once results have been received.
Pursuit Minerals last traded at 5.9 cents on September 3.
