Pursuit Minerals finds lead and zinc in Queensland

Published at Nov 29, 2017, in Mining

The Australian commodities recovery is gradually impacting every state in Australia, as yet another ASX junior delivers high-grade assay results from Queensland.

Pursuit Minerals (ASX:PUR) has announced early stage assay results having intersected a 68 metre interval of zinc-lead mineralisation from a down-hole depth of 271 metres. The company reported high-grade zinc-lead mineralisation, with 252-253 metres returning 16.64% zinc and lead.

Other intersections from this particular hole have included:

  • 13m at 3.57% Zn+Pb
  • 3.0m at 5.40% Zn+Pb
  • 10m at 1.99% Zn+Pb

pursuit minerals assay results

Source: Pursuit Minerals

Samples from the JB Zone zinc-lead mineralisation have been submitted for dense media separation testing, to further investigate the potential to upgrade the zone’s mineralisation and determine if a stand-alone project could be economically viable.

Commenting on its first intersections, PUR Managing Director Jeremy Read said: “The mineralisation at the JB Zone is of substantial thickness and within the overall mineralised package there are higher grade intervals which are able to be correlated from section to section within the Mineral Resource.

“The information we have obtained from drill hole PB01-17 will assist in our overall evaluation of the economic potential of the JB Zone Mineral Resource. In particular it has provided fresh mineralisation which we have sent off for Dense Media Separation testing to determine if, through the use of DMS, the JB Zone can deliver an economic standalone project.”

It should be noted here that PUR is a speculative stock and investors should seek professional financial advice if considering this stock for their portfolio.

More about the Paperbark Project

The Paperbark Project is located approximately 215 kilometres north-northwest of Mount Isa and 25 kilometres south-east of the Century Mine in north-west Queensland. It occurs within the Lawn Hill Platform of the Western Succession of the Mount Isa Province.

The project consists of two exploration permits (EPMs 14309, 25191), covering an area of approximately 110 square kilometres. Previous exploration focused on the JB Zone, where a Mineral Resource of 10.4Mt at 2.7% Zn, 0.2% Pb, 1g/t Ag at 1.5% Zn cut-off grade —classified as Inferred in accordance with the JORC Code (2012) — has been defined.

paperbark mining project

Source: Pursuit Minerals

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.

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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.

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