Pursuit Minerals pursues vanadium in Scandanavia
Pursuit Minerals Limited (ASX:PUR) today announced that it is adding aportfolio of high quality vanadium projects to its existing portfolio of assets.
The company has secured multiple vanadiumprojects across Sweden and Finland that are at different stages of advancement,containing sites of significant historical vanadium mineralisation. They are inpolitically stable jurisdictions in areas of excellent infrastructure, withaccess to low cost power.
Mineral Reservations have been secured over the Koitelainen and KarhujupukkaVanadium Projects in northern Finland. Mineral Exploration Licence applicationshave been submitted to cover the Sum??ssj??n, Kramsta, Simesvallen - Sved??sen andKullberget - Stor??sen Vanadium Projects in central Sweden and the Airijoki VanadiumProject in Sweden's north.
Here is the location of the newly acquired projects:
Importantly, PUR was able to submit its mineral tenement applicationsover open ground and hence the projects have been able to be secured in a verycost-effective manner.
Get the latest articles straight to your inboxkeep me postedOfcourse, as with all minerals exploration, success is not guaranteed - consideryour own personal circumstances before investing, and seek professional financialadvice.
The Koitelainen and Karhujupukka projects in Finland contain majorsites of historical vanadium and platinum group element (PGE) mineralisation,while the Kramsta Project contains a defined Exploration Target based uponhistorical drilling.
The KoitelainenProject contains a historical Mineral Estimate of 70Mt at 0.4% vanadium (0.7% vanadiumpentoxide (V2O5)), 14.4% chromium and 1.1g/t PGE forKoitelainen UC and 15Mt at 0.2% vanadium (0.4% V2O5) forKoitelainen vanadium.The KarhujupukkaProject contains a historical mineral estimate of 5.2Mt at 0.24% vanadium(0.43% V2O5), 32% Fe, 6.2% Ti and 0.02% cobalt
The Kramsta Projectcontains a historical Exploration Target estimate 10-12Mt at 0.1-0.25% vanadium,3-5% titanium and 15-25% iron has been estimated.
Rock samples takenfrom historical trial mining on the Simesvallen-Sved??sen Project, returnedvalues of 0.4-0.5% vanadium (0.7-0.9% V2O5) and 11-13% titanium.
PUR Managing Director Jeremy Read said that with the world moving torenewable energy, and several European countries looking to phase out internalcombustion engine vehicles by 2040, vanadium-based batteries will have anincreasingly important role to play in energy storage in the very near future.
Read said, "With the localisation of the energy grid, due toincreasing renewable energy production, and global transport fleets moving toelectric vehicles, the world is requiring more vanadium due to its use invanadium redox batteries.
"Sweden was the country where vanadium was confirmed as a metal, andwe have been able to secure high quality vanadium projects in both Sweden andFinland by submitting mineral tenement applications over open ground.
"Finland and Sweden are excellent jurisdictions in which to undertakemineral exploration and project development, ranking first and 16th respectivelyon the 2017 Fraser Institute Survey. All of the projects are close to reliablelow-cost grid power, sealed roads and rail infrastructure, while Ferrovan haveannounced plans to construct a vanadium production plant at Raahe in Finland.
"We have commenced planning our exploration programs with theobjective of completing preparatory work during the northern hemisphere summer,leading up to drilling programs during the northern hemisphere winter fromNovember 2018 until April 2019."
Work programs are currently beingprepared for the northern hemisphere summer with the aim of preparing theprojects for drilling during the next winter field season from November 2018until April 2019.
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