Pursuit Minerals (ASX:PUR) - Managing Director, Mark Freeman
Managing Director, Mark Freeman
Source: 6PR
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  • Pursuit Minerals (PUR) receives results from a downhole electromagnetic survey from two diamond drill holes at Phil’s Hill in WA
  • The company says data collected is very high quality, with the analysis confirming several highly conductive anomalies, some of which are aligned with visible sulphide mineralisation
  • The drill program is set to restart with a re-drill based on the new DHEM target, with a rig expected to be on site next week
  • Pursuit Minerals last traded at 4.9 cents on September 10

Pursuit Minerals (PUR) has received results from a downhole electromagnetic survey from two diamond drill hole at Phil’s Hill in WA.

Data collected was said to be very high quality, with the analysis confirming several highly conductive anomalies, some of which are aligned with visible sulphide mineralisation.

Terra Resources, the company assigned to complete a data analysis of the downhole electromagnetic (DHEM) surveys, said the results confirmed several sizeable highly conductive bodies, some co-incident with mineralisation.

“The DHEM responses were very definitive; indicating a highly conductive off hole anomaly consistent with the MLEM and VTEM responses,” Terra Resources MD and geophysical consultant, Barry Bourne said.

Results from a second hole showed a strong conductor at 142 metres, with an existing hole drilled over the top of it, missing it by 10 metres. Samples are now at the laboratory for assays.

“Our core strategic objective is to continue to gain momentum as we gather a greater understanding of the underlying mineralisation at Phil’s Hill,” Pursuit Managing Director Mark Freeman said.

The drill program is set to restart with a re-drill based on the new DHEM target, with a rig expected to be on site next week.

Pursuit Minerals last traded at 4.9 cents on September 10.

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