Julimar neighbour Pursuit Minerals reports strong conductors after airborne survey
Pursuit Minerals claims today’s results show how rapidly projects can be advanced using airborne surveys in PGE-nickel-copper exploration.
Interpretation of preliminary results of airborne electromagnetic (EM) surveys conducted by Pursuit Minerals (ASX: PUR) at its Warrior project has shown five strong conductors with “the potential to be due to platinum group elements (PGE)-nickel-copper mineralisation”.
The conductors were located at the Calingiri East exploration licence within the 593sq km Warrior project, which lies less than 50km from the large PGE-nickel-copper discovery at the Gonneville prospect that is part of the headline-making Julimar discovery made last year by Chalice Mining (ASX: CHN).
The five conductors have a total strike length of about 5,000m.
Pursuit says the “late time” (that is, stronger) conductors are associated with magnetic anomalies interpreted as being due to mafic or ultramafic intrusive rocks.
Airborne survey area extended
As a result, the Calingiri East survey block has been extended to the west and south.
An additional 207 line-kilometres of airborne EM data will be flown and collected.
This extra data should be processed by mid-April and will be followed by ground programs, with drill testing to be carried out in the June and September quarters.
Chief executive officer Mark Freeman said the work has shown how airborne EM surveys for PGE-nickel-copper exploration can allow rapid advancement of projects and generate highly prospective targets for drill testing.
Encouraged by early ‘quality’ targets
“To have defined focused quality targets from the preliminary data is very encouraging,” he added.
Pursuit noted the western margin of the Archean Yilgarn Craton is “highly prospective” for PGE, nickel and copper sulphide mineralisation.
The announcement of the Julimar find last year was the first significant discovery of those elements in the region.
“These mafic-ultramafic intrusions which host Chalice’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,” the company stated.
The Warrior airborne EM survey has been designed to locate conductors related to massive sulphide mineralisation.