Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Pursuit Minerals (PUR) is about to begin moving-loop electromagnetic surveys (MLEM) at the Wubin and Wubin south tenements, which are part of the Warrior project in WA
  • The surveys will refine existing electromagnetic anomalies and help to define future drilling targets
  • Pursuit has adopted a similar exploration approach to fellow ASX-lister Chalice Mining (CHN) when it made the Gonneville PGE–nickel–copper discovery
  • The company expects the surveys to take up to two weeks with preliminary results expected within three weeks
  • In the meantime, it’s focussed on advancing approvals for drilling at the nearby Phil’s Hill prospect
  • Pursuit ended the day 1.27 per cent in the red with shares closing at 7.8 cents

This week, Pursuit Minerals (PUR) will begin moving-loop electromagnetic surveys (MLEM) at the Wubin and Wubin south tenements.

These tenements are part of the Warrior Nickel-Copper-Platinum Group Element (PGE) Project in Western Australia.

The MLEM survey work is designed to better understand and refine known EM anomalies that are prospective for PGE-nickel-copper sulphide mineralisation. This work will also help to define future drilling targets.

It seems the company is searching for mineralisation similar to that found at Chalice Mining’s (CHN) Gonneville discovery.

According to Pursuit, Chalice’s approach of identifying prospective mafic-ultramafic intrusions from aeromagnetic data and then generating drill targets from EM surveys, is an effective way of targeted PGE-nickel-copper sulphide mineralisation in the West Yilgarn region.

The company believes the mafic-ultramafic intrusions which host Chalice’s PGE-nickel-copper mineralisation is widespread. It has therefore adopted a similar exploration method used when the Gonneville intrusion was discovered.

In addition, an MLEM survey targeted the Phil’s Hill prospect which confirmed the airborne conductors are discrete basement conductors. The EM conductors were confirmed late last month and cover a 900-metre strike length at the prospect.

Due to the compelling findings, Pursuit is seeking land access approval and cultural heritage requirements to expedite drilling at Phil’s Hill.

“We are currently liaising with drilling contractors and expect to be able to announce commencement of drilling within the next two to three months once all government and Aboriginal Cultural Heritage approvals are in place,” Managing Director Mark Freeman said.

In the meantime, Pursuit expects the MLEM survey at the Wubin tenements to take between one and two weeks with preliminary results expected within three weeks.

Pursuit ended the day 1.27 per cent in the red with shares closing at 7.8 cents.

PUR by the numbers
More From The Market Herald
Siren Gold (ASX:SNG) - Chairman, Brian Rodan

" Siren Gold (ASX:SNG) to begin scoping study at NZ gold projects

Siren Gold (ASX:SNG) will undertake a scoping study for underground development at its Big River and…

" Stanmore (ASX:SMR) awards EPSA Pacific $564m open-cut mining contract

Stanmore Resources (ASX:SMR) has awarded EPSA Pacific a $564 million mining contract at its Isaac Downs…
Australian Rare Earths (ASX:AR3) - Technical Director, Rick Pobjoy (left)

" Regional prospectivity confirmed for Australian Rare Earths’ (ASX:AR3) Koppamurra Project

Drilling at Australian Rare Earths (AR3) flagship Koppamurra project has confirmed significant regional prospectivity.

" Parabellum Resources (ASX:PBL) to begin airborne survey program in February

Parabellum Resources (ASX:PBL) is set to begin airborne electromagnetic (EM) surveying in early February to generate…