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PUR granted exploration licences for Warrior Project


Published 03-DEC-2020 14:48 P.M.


2 minute read

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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:

Screen Shot 2020-12-03 at 2.40.36 pm

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:

Next Investors Image

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 tenements

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.

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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.

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