Pursuit Minerals powers ahead with zinc drilling campaigns
The Paperbark project is located approximately 70 kilometres to the south-west of the Bluebush Project and 20 kilometres to the south-east of the Century zinc mine.
Having acquired zinc and copper projects in the heart of the Mt Isa Province, PUR is uniquely placed to deliver value as it seeks to discover world class deposits adjacent to existing regional infrastructure while also extracting value from its existing mineral resources.
The following map illustrates the relative proximity of its tenements to the region north of Mt Isa, a location that has yielded long life/high production projects such as the Century zinc and lead mine, which on its closure was one of the catalysts behind the recognised imminent contraction in global zinc supply.
At the same time, it’s worth noting that this is an early stage play and investors should seek professional financial advice if considering this company for their portfolio.
Will upcoming drilling program provide similar share price momentum to Bluebush
Given the substantial share price impact of PUR’s drilling campaign at Bluebush, results from the Paperbark result are likely to be keenly monitored. In just over a week, PUR’s share price has increased circa 20 per cent as results have been released from drilling conducted at Bluebush.
Past performance is not necessarily indicative of future results. As part of the due diligence process, clients must consider all factors over and above the past performance of the product. Clients should not engage with a product solely on it past performance.
The company is planning to complete seven diamond drill holes for approximately 1500 metres at the Paperbark Project, testing targets prospective for copper and lead-zinc mineralisation at the Grunter North, JB, JE and Stonemouse Prospects.
The map below illustrates the area of focus for the drilling program relative to the Grunter North and Stonemouse prospect.
The first hole to be drilled has a planned depth of 550 metres and is aimed at testing an historical drill hole (JB006, 08) which intersected 6 metres grading 1.1 per cent copper, but wasn’t further investigated with follow up drilling.
This first hole will also investigate the potential southern extension of the JB Mineral Resource (Inferred Mineral Resource of 10.4 million tonnes grading 2.7 per cent zinc, 0.2 per cent lead and 1 gram per tonne silver at a zinc cut-off grade of 1.5per cent.
The second and third holes to be drilled at the Paperbark Project will investigate the source of surficial copper oxide mineralisation which forms a zone 900 metres in strike length where rock chip samples all exceeded 1 per cent copper.
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.