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- Pursuit Minerals (PUR) confirms a silver mineralising system at its Phil’s Hill prospect in Western Australia following receipt of the final assays
- The company has been undertaking a diamond drilling program and has confirmed massive, stringer or disseminated sulphides in all holes
- A review of the results identified a similar anomalous mineral association as noted for the first four holes, which PUR said is indicative of an orogenic gold signature
- Moving forward, PUR aims to find the core of the system and plans to undertaking a “thorough” review of all drilling results to rank new drill targets
- Shares have been trading 6.2 per cent lower at 3 cents
Pursuit Minerals (PUR) has confirmed a silver sulphide mineralising system at its Phil’s Hill prospect in Western Australia following receipt of the final assays.
The prospect is located within the wider Warrior platinum group element nickel-copper project located in the Yilgarn-Craton region.
The company has been undertaking a diamond drilling program and has confirmed massive, stringer or disseminated sulphides in all holes.
The final four assays included silver mineralisation up to 8.4 grams per tonne and Pursuit has noted strong surface enrichment at a number of locations.
Additionally, a review of the results identified a similar anomalous mineral association as noted for the first four holes, which PUR said is indicative of an orogenic gold signature.
Moving forward, the company aims to find the core of the system and plans to undertaking a “thorough” review of all drilling results to rank new drill targets.
Follow-up auger geochemistry over Phil’s Hill to the Ablett trend is planned to start this month, with the plan of work lodged and the contractor secured. The company expects this work to be complete by the end of January.
Pursuit is also aiming to resample shallow core in all holes to clarify the surface gold anomalism.
Shares were trading 6.2 per cent lower at 3 cents at 12:34 pm AEDT.
