PUR granted exploration licences for Warrior Project
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.
More from Finfeed
Los Cerros confirms extensive gold porphyry mineralisation
Jul 8, 2021
Los Cerros Limited (ASX: LCL) has announced the first drill results from its new Ceibal porphyry target, with gold mineralisation reported along the entire core-lengths from the first two drill holes.
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.
