Air core drilling commenced at its Warrior Project in WA.

This morning our junior exploration investment Pursuit Minerals (ASX:PUR) confirmed that air core drilling at its Warrior project in WA had commenced.

The drilling program comes less than 1 week after the company put together a ~700m x 250m target area where copper/gold anomalies were found during a previous round of sampling. We covered this in a previous Quick Take which can be viewed here.

The announcement last week detailing the new copper/gold anomalies seems to have caught the markets interest with the share price moving from ~2c per share to now trade just below 4c per share.

Our initial investment in PUR was made in December 2020, and was largely based around the company’s nearology to Chalice Mining’s multi billion dollar Julimar discovery. These new gold/copper targets come as a complete surprise to us so we haven't set any expectations for the upcoming drilling program.

PUR are using an air core drill rig so we don't expect to see a new copper/gold discovery being made with this round of drilling but if the company can put together some decent intercepts and find enough mineralisation to warrant follow up drilling then the project could become a lot more interesting.

PUR expects to have the assays back in ~June of this year.