Pursuit begins follow-up zinc drilling
Now at the endof the wet season, Pursuit Minerals (ASX:PUR) has begun follow up drilling atits Paperbark Project in North Queensland in order to determine the fullpotential of the project's JE Zone zinc system.
PUR acquiredthe Paperbark Project, along with the Bluebush and Coober Pedy Projects fromTeck Australia Pty Ltd in 2017 and has wasted no time in getting on withexploring what's on offer.
The follow updrill program is intended to build on the encouraging results achieved at thePaperbark Project last year, when the JE Zone was confirmed as a new zincdiscovery and a large surficial copper system was located at Grunter North.
Five holes willbe drilled at Paperbark for 1325m in order to determine the extent of zincsulphide mineralisation at the JE Zone prospect, test the down dip extent ofsurficial copper mineralisation at the Grunter North Prospect, and test shallowextensions of the JB Zone Mineral Resource.
The first threeholes to be drilled will further investigate the new zinc discovery at the JEZone Prospect, and are targeted on determining the extent and grade of zincsulphide mineralisation at the JE Zone.
The fourth holewill test the down dip extent of surficial copper mineralisation at the GrunterNorth Prospect.
Get the latest articles straight to your inboxkeep me postedThe fifth holeof the program will test for shallow extensions to the JB Zone Mineral Resourceand to determine if the zinc mineralisation at the JB and JE Zones is connectedat depth.
It should benoted that PUR is an early stage play and anything can happen, so seekprofessional financial advice if considering this stock for your portfolio.
The PaperbarkProject is located approximately 215km north?EUR?northwest of Mount Isa and 25 kilometressouth-east of the Century Mine in north-west Queensland.
The projectcontains the JB Zone, which hosts a JORC (2012) Mineral Resource of 10.4Mt at2.7% zinc, 0.2% lead, 1g/t silver at 1.5% zinc cut-off grade.
The companyalso today released its quarterly activities report which provides a summary ofthe company's wider portfolio of assets.
The update onits Australian portfolio and the quarterly report comes after the recent newsthat PUR has secured Mineral Reservations for two vanadium projects in northernFinland and had submitted Mineral Exploration Licence applications for anotherfive vanadium projects in Sweden.
These projectsin Finland and Sweden comprise a high quality portfolio of vanadium projects atdifferent stages of advancement, containing sites of significant historicalvanadium mineralisation, in areas of excellent infrastructure, with access tolow cost power and in politically stable jurisdictions.
Work programsare currently being prepared for the northern hemisphere summer with theobjective of preparing the projects for drilling during the next winter fieldseason from November 2018 until April 2019.
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