Pursuit Minerals (ASX: PUR) defines six targets for MLEM tests
Pursuit Minerals (ASX:PUR) has marked the 12th March as the start date for moving-loop ground EM (MLEM) surveys.
Contractors have been secured to follow-up six highly prospective targets on the Calingiri East Project.
Calingiri East is part of the Warrior PGE-Nickel-Copper Project, nestled in the Western Gniess Terrane, located just 50 kilometres from Chalice Gold Mines Ltd’s Gonneville Julimar discovery.
Chalice’s discovery is shaping up to be a major deposit of critical metals for a clean energy future and includes palladium, nickel and copper.
Chalice investors were well rewarded by this discovery, with the stock returning 2,600% since the discovery.
Pursuit is an early stage company, but has identified its six targets from the recently completed airborne EM survey.
When a company first acquires exploration land and wants to drill for precious metals, they run an EM survey to find if there are any high potential locations to drill.
Of the AEM survey and the forthcoming ground MLEM follow-up, Pursuit Managing Director, Mark Freeman, said, “Extending the airborne EM survey has created a significant result at Calingiri East that we are able to immediately follow-up on with ground electromagnetic moving-loop surveys next week.
“We continue to be extremely encouraged by the potential of Calingiri East and the fact that we have been able to progress Calingiri East significantly ahead of schedule.
“At Calingiri West and Wubin we await the post processing from our geophysical manager, Barry Bourne and his team. Pursuit continues to accelerate the exploration program on the Warrior Project and will continue to regularly inform the market as we progress the MLEM.”
Calingiri East now has an estimated 7,000m of combined strike length of airborne EM anomalies with PGE-Ni-Cu sulphide mineralisation potential.
Interestingly, the company reports that the prospective mafic-ultramafic intrusions which host Chalice Mining’s PGE-Ni-Cu mineralisation are far more widespread than previously thought throughout the western margin of the Yilgarn Craton and appear to be present at Calingiri East.
Additional follow-up areas of interest indicated at Calingiri West and Wubin, are awaiting post processing due to shallow conductive cover in these areas.
Fully processed AEM data will be delivered by mid-April.
These results will drive PUR’s on ground exploration programs at Calingiri West and Wubin.
The MLEM program is designed to further refine the orientation and position of the six EM anomalies and provide targets for drill testing.
Short-term positions in small, early stage ASX companies,
with high potential and near term price catalysts.
Focusing on resource exploration, early-stage tech, and biotech.
Exceptional opportunities across a broad range of
early-stage growth sectors with strong management.
Seeking 1,000% plus returns across medium to long-term holds.
Longer-term positions in a variety of sectors.
Seeking strong management where traction is established and have entered into a growth phase.
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.
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.