Pursuit Minerals (ASX: PUR) defines six targets for MLEM tests
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
Pursuit Minerals (ASX:PUR) has marked the 12th March as the start date for moving-loop ground EM (MLEM) surveys.
Contractors have been secured to follow-up six highly prospective targets on the Calingiri East Project.
Calingiri East is part of the Warrior PGE-Nickel-Copper Project, nestled in the Western Gniess Terrane, located just 50 kilometres from Chalice Gold Mines Ltd’s Gonneville Julimar discovery.
Chalice’s discovery is shaping up to be a major deposit of critical metals for a clean energy future and includes palladium, nickel and copper.
Chalice investors were well rewarded by this discovery, with the stock returning 2,600% since the discovery.
Pursuit is an early stage company, but has identified its six targets from the recently completed airborne EM survey.
When a company first acquires exploration land and wants to drill for precious metals, they run an EM survey to find if there are any high potential locations to drill.
Of the AEM survey and the forthcoming ground MLEM follow-up, Pursuit Managing Director, Mark Freeman, said, “Extending the airborne EM survey has created a significant result at Calingiri East that we are able to immediately follow-up on with ground electromagnetic moving-loop surveys next week.
“We continue to be extremely encouraged by the potential of Calingiri East and the fact that we have been able to progress Calingiri East significantly ahead of schedule.
“At Calingiri West and Wubin we await the post processing from our geophysical manager, Barry Bourne and his team. Pursuit continues to accelerate the exploration program on the Warrior Project and will continue to regularly inform the market as we progress the MLEM.”
Calingiri East now has an estimated 7,000m of combined strike length of airborne EM anomalies with PGE-Ni-Cu sulphide mineralisation potential.
Interestingly, the company reports that the prospective mafic-ultramafic intrusions which host Chalice Mining’s PGE-Ni-Cu mineralisation are far more widespread than previously thought throughout the western margin of the Yilgarn Craton and appear to be present at Calingiri East.
Additional follow-up areas of interest indicated at Calingiri West and Wubin, are awaiting post processing due to shallow conductive cover in these areas.
Fully processed AEM data will be delivered by mid-April.
These results will drive PUR’s on ground exploration programs at Calingiri West and Wubin.
The MLEM program is designed to further refine the orientation and position of the six EM anomalies and provide targets for drill testing.
General Information Only
This material has been prepared by Jason Price. Jason Price is an authorised representative (AR 000296877) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573) (62C), and a Director of S3 Consortium Pty Ltd (trading as StocksDigital).
This material is general advice only and is not an offer for the purchase or sale of any financial product or service. The material is not intended to provide you with personal financial or tax advice and does not take into account your personal objectives, financial situation or needs. Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. Please note that past performance may not be indicative of future performance and that no guarantee of performance, the return of capital or a particular rate of return is given by 62C, Jason Price, StocksDigital, any of their related body corporates or any other person. To the maximum extent possible, 62C, Jason Price, StocksDigital, their related body corporates or any other person do not accept any liability for any statement in this material.
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.
