- Pursuit Minerals (PUR) confirms “significant” rare earth element mineralisation from its latest drilling program at the Calingiri East project in Western Australia
- The company has received results from over 3470 metres of aircore and reverse circulation drilling and the resampling of historical assays
- Pursuit’s focus was on copper, nickel, platinum group elements (PGE) and rare earth elements (REE), and new results include four metres at 0.31 per cent TREO from 16 metres at the Phil’s Hill area
- Pursuit now plans to complete an aircore program this quarter to drill for REE, gold, and nickel-copper anomalies at the Calingiri East and Bindi Bindi projects
- Pursuit Minerals shares are up 3.7 per cent to 2.8 cents at 10:42 am AEDT
Pursuit Minerals’ (PUR) latest drilling program at the Calingiri East project in Western Australia has returned over 3000 parts per million total rare earth oxides (TREO).
The company has received results from its aircore and reverse circulation drill programs in the project area, along with its resampling of historical assays.
Pursuit completed over 3470 metres of drilling, with a focus on copper, nickel, platinum group elements (PGE) and rare earth elements (REE).
Drilling highlights from the Ablett prospect included eight metres at 0.25 per cent TREO from 32 metres and two metres at 0.12 per cent TREO from 28 metres.
Work at the Phil’s Hill area returned hits of four metres at 0.31 per cent TREO from 16 metres and 0.65 metres at 0.19 per cent TREO from 191.4 metres.
The company said an external geochemist review of the data outlined several large areas of downslope REE potential worthy of drill testing.
“Pursuit is excited to confirm significant regolith and bedrock REE mineralisation at Calingiri East, and an external expert review has outlined three large areas of downslope REE potential that warrant further investigation,” Pursuit Managing Director Bob Affleck said.
The company’s next steps will include an aircore program this quarter to drill for REE, gold, and nickel-copper anomalies at the Calingiri East and Bindi Bindi projects.
“The company plans to explore these targets as part of its forthcoming AC program before seeding commences in April,” Mr Affleck said.
Pursuit Minerals shares were up 3.7 per cent to 2.8 cents at 10:42 am AEDT.