PM1 prepares to establish JORC compliant Resource at Battery Hub
Published 28-SEP-2017 12:30 P.M.
2 minute read
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Just a fortnight after announcing that a license had been granted for the company’s Battery Hub tenement located in Western Australia, Pure Minerals (ASX: PM1) has delivered a double dose of good news, firstly announcing that a drilling program had been submitted in relation to the project which should provide a maiden JORC 2012 compliant resource.
Management also advised that initial rock chip assays from the Pools prospect included a high-grade result of 47% manganese, indicating that the company has identified a new drilling target.
Note that it is an early stage of this company’s development and if considering this stock for your portfolio you should take all public information into account and seek professional financial advice.
The initial focus of the Battery Hub drilling campaign will be on zones of high-grade and thick manganese mineralisation identified in a detailed review of historic drilling completed by the company and the recent rock chip sampling. These zones are expected to yield the best results in terms of delivering a JORC 2012 compliant Resource.
The planned drilling program is extensive, comprising more than 50 reverse circulation (RC) drill holes over a distance of more than 2000 metres. As indicated below, the initial drill targets are expected to be the Isle and Julia prospects.
High-grade surface mineralisation above direct shipping threshold
While numerous manganese prospects are known to occur along the entire strike length of the Battery Hub host formation, PM1 is focusing on areas that have received minimal attention in the past. One such area is the Pools prospect, indicating the importance of the recent high-grade assays that have been delineated.
The Pools prospect occurs more than five kilometres along strike to the west of the Julia prospect which has been the focus of historic drilling activities. The outcrop represents a gently dipping zone of mineralisation of more than nine metres in width at surface, with a strike length of approximately 100 metres.
Commenting on these latest developments and highlighting their significance in terms of future exploration, PM1’s Executive Director and Chief Executive Sean Keenan said, “Pure Minerals is in the fortunate position of being able to utilise a historic database of more than 500 drill holes to assist in the planning of drilling and resource definition”.
Keenan noted that the surface results have identified extensive zones of manganese mineralisation with enriched grades that are above the thresholds for direct shipping, as well as new high priority targets for follow-up drilling.
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