High grade vanadium at Pursuit’s Finland prospect
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Less than a month after expanding its operations and securing a portfolio of vanadium projects in Finland and Sweden, Pursuit Minerals (ASX:PUR) has reported high grade vanadium mineralisation at the Koitelainen Project’s Koitelainen V prospect in Finland.
Nine drill holes from the prospect produced magnetite concentrates with vanadium values ranging from 2.0 to 3.7% V2O5, with a globally significant average grade of 2.3%. These figures place the vanadium mineralisation at Koitelainen V in the upper echelon of vanadium mineralisation globally, as magnetite concentrates from vanadium projects containing greater than 1.5% V2O5 are usually considered high grade.
Only the Maracas Mine in Brazil (3% V2O5 in magnetite concentrate) and the Rhovan mine in South Africa (2.3% V2O5) produce magnetite concentrates with vanadium levels consistently above 2.2% V2O5.
Through the compilation of historical drilling and assay data, PUR identified nine drill holes at the Koitelainen V prospect on the Koitelainen Project in northern Finland which produced magnetite concentrates with exceptional grades of V2O5, including:
- 8m at 3.1% V2O5 in hole M374177R329 from
77.15m
- 10m at 2.7% V2O5 in hole M374177R331 from
16.85m
- 10m at 2.4% V2O5 in hole M374177R335 from
10.85m
- 13m at 2.03% V2O5 in hole M374177R336 from
72.25m
These figures compare well to PUR’s ASX-listed peers too. Tando Resources (ASX:TNO) recently announced that the SPD Vanadium Project in South Africa produces magnetite concentrates averaging 2.0% V2O5, while Australian Vanadium’s (ASX:AVL) Gabanintha Project produces magnetite concentrates averaging 1.43% V2O5.
Pursuit is continuing to compile the historical data from 27 drill holes, for a total of 3784m, at the Koitelainen Project to design a drill program to test extensions to the high-grade vanadium mineralisation at the Koitelainen V prospect.
Of course, as with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.
The vanadium mineralisation in the nine high grade drill holes occur in the southern section of the Koitelainen V prospect and are open to the north, south and east, with the high-grade vanadium mineralisation coming to surface.
The high-grade vanadium mineralisation at Koitelainen V is associated with three sub-parallel trends of magnetic anomalies which collectively extend for a further 2-2.5 kilometres away from the areas drilled by the nine high grade drill holes.
Geological Cross Section Southern Section of the Koitelainen V Prospect
Geological Cross Section Northern Section of the Koitelainen V Prospect
PUR expect that data compilation to be completed in late June and the drill program undertaken during the next winter field season from November 2018 until April 2019.
The Koitelainen V prospect is part of the Koitelainen Project in northern Finland that PUR secured in April along with the Karhujupukka Vanadium Project, also in northern Finland. PUR also submitted Mineral Exploration Licence applications to cover the Sumåssjön, Kramsta, Simesvallen – Svedåsen and Kullberget - Storåsen Vanadium Projects in central Sweden and the Airijoki Vanadium Project in Sweden’s north.
Sweden has a long history with vanadium, and is the country where vanadium was first confirmed as a metal. Finland, has in the past produced up to 10% of the worlds vanadium from the Mustavarra mine in central Finland and is currently rated the number one jurisdiction globally for developing mineral projects.
Pursuit Minerals Managing Director Jeremy Read said that the V2O5 grades of the magnetite concentrates produced from the nine high-grade vanadium holes in the southern section of Koitelainen V prospect were exceptional and indicate the highly prospective nature of the Koitelainen V prospect.
“The magnetite concentrates produced by these nine high-grade vanadium holes at Koitelainen V place this prospect in the upper echelon of vanadium prospects globally.
“The nine holes are associated with three sub-parallel magnetic trends which extend 2-2.5km beyond the areas drilled with the nine high-grade holes.”
“The vanadium mineralisation in the Eastern and Central magnetic trends are open both north-south and to the east, while the Western Magnetic trend is open to the south and east, so there is a lot of potential to extend the known high-grade vanadium mineralisation through further exploration work.”
“Furthermore, the high-grade vanadium mineralisation comes to surface and the overall package of vanadium mineralisation is consistently 30-40m thick.”
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (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 and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
