PUR says Early Soil Samples “Compare Favourably” to $2.6BN Chalice
Pursuit Minerals (ASX:PUR) has today released exceptional results from soil sampling that confirms the presence of anomalous PGEs (platinum group elements), Nickel, Copper and Gold.
Soil sampling is basically scraping chunks of soil with a little shovel from 30cm under the surface and testing them in a lab for trace elements of the metals we are hoping to find deeper underground with drilling, in the area where Electromagnetic (EM) drill targets are.
The metals found in soil sampling give strong clues to what lies beneath...
PUR just confirmed high levels of metals in the soil meaning the likelihood of success that their EM targets could actually be a lode of PGE-Ni-Cu 100m under the surface.
...AND according to PUR, their soil samples “compare favourably” to the soil sampling Chalice reported during its $2.6BN Julimar discovery, just 20-170km away from PUR’s ground.
PUR just reported over 1 gram per tonne Au-Pt-Pd co-incident soil results and strong co-incident Au-Pt-Pd-Ni-Cu anomalism - 1/gt is big enough to actually be a pretty decent result for exploration drilling, let alone basic soil scraping.
And these soil anomalies appear to line up with PUR’s EM drill targets...
Drilling is now just weeks away (pending government and heritage requirements being met)...
Our Investment Strategy
Excitement continues to build in the lead up to PUR’s drilling in July.
We expect PUR’s share price will rise in the lead up to drilling results.
As with all our exploration investments, we will look to take some profit in the lead up to drilling and hold a significant position for the drilling results. Remember that exploration investing is risky and there is no guarantee of success.
What is coming next for PUR:
- Government and Heritage approvals.
- Second phase of MLEM surveys and ground follow up programs (to hopefully identify more conductors).
- Soil sampling programme to be expanded
- Drilling - to start in July.
Here is all our past articles on PUR
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.
