Pursuit prepares to recommence zinc drilling in Mt Isa Super basin
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
Whilst Pursuit Minerals (ASX:PUR) has been quiet lately, today’s news indicates the company is once again about to ramp up operations at its Paperbark and Bluebush Projects North Queensland’s Mt Isa Super Basin.
Pursuit is planning five drill holes for 1,325m for the Paperbark Project to further investigate the new zinc discovery at the JE Zone Prospect.
A second drill hole will test the down dip extent of surficial copper mineralisation at Grunter North and test for shallow extensions to the JB Zone Mineral Resource.
Three of the five hills drilled at Paperbark are set to determine the extent and grade of zinc sulphide mineralisation at the JE Zone.
Down the road at its Bluebush Project, Pursuit Minerals has lined up six holes for the north-west sector of Bluebush following confirmation that this area hosts enhanced grade sedimentary exhalative (SEDEX) style zinc mineralisation.
The goal of the Bluebush follow-up drilling, will be to determine if a globally significant SEDEX style zinc deposit occurs in the north-west sector of the Bluebush Project.
Bluebush is believed to host the largest zone of zinc mineralisation (>100km2) in Australia, with both projects in close proximity to the $490 million capped New Century Mine’s (ASX:NCZ) Century Zinc Mine.
Pursuit’s projects have the same SEDEX style mineralisation as that found at Century Mine.
Yet Pursuit has a long way to go to match New Century Mine and investors should seek professional financial advice before making an investment decision with regard to this stock.
Drilling is planned to commence at the Paperbark Project in late April, following the conclusion to the northern Australian wet season, with the drilling at Bluebush to commence immediately after.
The map below indicates the areas to be drilled.
Pursuit Mineral’s Purebark and Bluebush Projects.
Pursuit Minerals Managing Director Jeremy Read said the company was now in a position to begin following up encouraging results from 2017 and will begin drilling as soon as possible to determine the full potential of both projects.
“In 2017 we discovered a new zinc system at the JE Zone Prospect on the Paperbark Project and confirmed that the north-west sector of the Bluebush Project hosts significantly higher grade zinc mineralisation than occurs elsewhere within the 120km2of zinc mineralisation at Bluebush,” Mr Read said.
“To better determine the potential of the JE Zone at Paperbark we need to drill beneath the depth of oxidation and into the sulphide zone, so we can accurately determine the grade of this new zinc system.
“In the north-west sector of the huge Bluebush zinc system our 2018 drilling program is designed to determine if a globally significant zinc system is present in this area of enhanced grade zinc.
“As soon as the wet season completes and the ground dries out, we will roll in the drill rig,” Mr Read concluded.
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.
