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Pursuit Minerals Discovers Primary Ni-Cu-PGE-Au Mineralisation at Ablett

13 June 2023 14:36
ASX: PUR

Pursuit Minerals Limited (ASX:PUR) has achieved a significant breakthrough at its Calingiri East project in Western Australia, with the discovery of primary nickel-copper-platinum group element (Ni-Cu-PGE) mineralisation at the Ablett prospect, further enhancing previously identified orogenic gold anomalism.

Significant Discovery at Ablett Prospect

The Ni-Cu-PGE system was uncovered by an extensive air core drilling program undertaken at both the Calingiri East and Bindi Bindi Projects, with the rig hitting significant Ni-Cu-PGE mineralisation in five holes at the across Ablett and delinating a 600m long mineralised zone up to 200m thick.

Results from the drilling include:

  • 12 meters @ 1,111 ppm Cu, 2,388 ppm Ni, 14 ppb Au, 19 ppb Pd, 17 ppb Pt from 28 meters.
  • 12 meters @ 915 ppm Cu, 1,698 ppm Ni, 17 ppb Au, 14 ppb Pd, 13 ppb Pt from 32 meters.
  • 8 meters @ 1,243 ppm Cu, 1,406 ppm Ni, 4.5 ppb Au, 34 ppb Pd, 25 ppb Pt from 20 meters.
  • 4 meters @ 1,590 ppm Cu, 1,085 ppm Ni, 6 ppb Au, 17 ppb Pd, 21 ppb Pt from 20 meters.
  • 4 meters at 1,455 ppm Cu, 950 ppm Ni, 7 ppb Au, 42 ppb Pd, 29 ppb Pt from 20 meters.
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Figure 1: 2023 AC traverses, Calingiri East

Additionally, Phil’s Hill, another prospect in the area, exhibited anomalous Ni-Cu-PGE results of 4m @ 1,025ppm Cu, 502ppm Ni, 1ppb Au, 5ppb Pd, 7ppb Pt from 8m, providing further evidence of mineralisation.

Data from the drilling campaign was also reviewed by consultant geologist Dr Carl Brauhart, who noted that the mineralisation potentially dips to the prospects west, giving Pursuit a compelling avenue for follow up drilling.

Expansion of Ablett Orogenic Gold System

Drilling also delivered extensions previously uncovered orogenic gold system at Ablett, with mineralisation now extending over a 850 meter strike length with width and thickness up to 100 metres and 200 metres respectively.

Notable intersections include:

  • 20m @ 523ppm Cu, 78ppm Ni, 347ppb Au, 5ppb Pd, 7ppb Pt, from 12m incl.;
    • 4m @ 0.57 g/t Au from 12m
  • 18m @ 741ppm Cu, 173ppm Ni, 262ppb Au, 5ppb Pd, 7ppb Pt from 8m
  • 16m @ 369ppm Cu, 37ppm Ni, 279ppb Au, 6ppb Pd, 7ppb Pt from 32m

With mineralisation remaining open, Pursuit Minerals aims to further extend the gold mineralisation trend to the south, where previous explorers have overlooked it, and identify higher-grade shoots to evaluate its economic potential.

Future Plans

Moving forward, Pursuit plans to conduct further geophysical surveys, including electromagnetic and IP surveys, to explore the deeper source of the mineralisation at Ablett.

Furthermore, the Company intends to review the results from Phil’s Hill and consider geological mapping, IP surveys, and additional drilling in the vicinity of the southern NE-SW cross fault, with deeper reverse circulation or diamond drilling also on the radar to target the defined mineralisation areas at Ablett and Phil’s Hill.

“We are delighted with the AC drilling results at Ablett prospect, Calingiri East confirming a true mineralised ultramafics co-incident Ni-Cu-PGE system has been discovered. The orogenic Au gold mineralisation at Ablett has also been extended to over 850m and remains open along strike,” said Pursuit Managing Director, Bob Affleck.

“This is an exciting time for the Company as we aggressively advance the world-class Rio Grande Sur Lithium Project along with the latest Warrior results which adds to the Ni-Cu-PGE mineralisation.”

PUR’s Australian Stock Exchange-listed share price was trading at 1.5 cents today (12:53 pm UTC+ 8 hours).

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