- Pursuit Minerals (PUR) kicks off drilling at its Phil’s Hill prospect in Western Australia once more
- The company says it is re-drilling a hole dubbed Plate 10a, with drilling currently at 55 metres deep
- Managing Director Mark Freeman says once Plate 10a is completed, the company plans to move back to redrill Plate 20a
- The Phil’s Hill prospect is part of the wider Warrior project in WA, which Pursuit agreed to purchase back in December 2020
- Shares in Pursuit Minerals are up 1.96 per cent and trading at 5.2 cents each at 10:19 am AEST
Junior explorer Pursuit Minerals (PUR) has kicked off drilling at its Phil’s Hill prospect in Western Australia once more.
In an announcement to investors this morning, the company said diamond drilling at Phil’s Hill recommenced on Friday last week.
Pursuit is busy drilling a hole dubbed Plate 10a, with the hole currently sitting around 55 metres deep.
Managing Director Mark Freeman said once the Plate 10a hole is completed, Pursuit will move back to redrill Plate 20a.
“We are very pleased that the rig has returned to site and the hole is drilling ahead at 55 metres,” Mr Freemand said.
“We look forward to keeping the market updated with our results.”
The Phil’s Hill drilling is designed to follow up some downhole electromagnetic (DHEM) results announced earlier this month which showed some “sizeable highly conductive bodies” in the area.
Specifically, the DHEM work identified an important conductor roughly 16 metres north of the original Plate 10a hole, hence the restarted drilling.
Pursuit said the original hole showed a very strong conductor around 142 metres from the surface, but the existing hole drilled just over the top of it, missing it by 10 metres.
The Phil’s Hill prospect is part of the wider Warrior project in WA, which Pursuit agreed to purchase back in December 2020. The buy was finalised on September 13.
Phil’s Hill is prospective for nickel, copper, and platinum group elements (PGEs).
The revamped diamond drilling program will see Pursuit drill at the prospect for 1500 metres.
The drilling program follows some important cultural heritage and electromagnetic work taken on at the project completed in June.
Shares in Pursuit Minerals were up 1.96 per cent and trading at 5.2 cents each at 10:19 am AEST. The company has a $49.7 million market cap.