PUR granted exploration licences for Warrior Project

By Jonathan Jackson. Published at Dec 3, 2020, in Mining

Yesterday, Finfeed alerted readers to Pursuit Mineral’s (ASX:PUR) acquisition of four highly prospective land positions totalling 593 square kilometres in an emerging nickel-copper-platinum group elements (PGE) region of Western Australia.

The tenements are collectively known as the Warrior Project.

Read: Pursuit set to acquires ELA’s close to Chalice’s Julimar Project

Today, the company has announced that Exploration Licences for Calingiri East (E70/5379) and Bindi Bindi (E70/5392) have been granted effective 2 December 2020.

The tenements are located between 20 kilometres and 170 kilometres to the north of Chalice Gold Mines Ltd’s (ASX:CHN | OTCQB:CGMLF) Gonneville Julimar discovery.

This discovery was a groundbreaking one for Chalice, which is up over 1,600% since January, and is currently capped at $1.2BN - one of the top performing companies on the ASX this year.

Following, the Chalice discovery a raft of companies entered the region:

PUR is now the latest company to join the Julimar ranks.

Since the announcement yesterday, PUR’s shares have risen 30% and its market cap has moved from $11M to $15.58.

Given its proximity to Chalice and pending newsflow, we could see further upside.

You can see its location below:

The Company is now working to finalise Heritage Agreements, securing Ministerial consent and moving ahead with the transfer of the tenements for Calingiri East (E70/5379), Bindi Bindi (E70/5392) and Wubin (E70/5493).

PUR will also commence fieldwork on the Warrior Project during the January-March quarter 2021.

Work at Warrior will consist of prospect scale geological mapping, rock chip and soil geochemistry, along with planning for electromagnetic surveys, to be followed by an initial drill program.

Preparatory work on the project has commenced and it has focused on the interpretation of aeromagnetic data covering the four tenements in order to identify magnetic anomalies which are potentially due to mafic and ultramafic intrusions.

PUR plans to expediate the granting of the one remaining tenement application and is progressing discussions with various landowners, native title groups and government agencies.

Where to invest $1,000 right now

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!