Special Report: Pursuit Minerals was right when it said it would have high-grade vanadium magnetite concentrate from its Airijoki project in Sweden.

The keys to determining a good vanadium deposit come down to the overall magnetite recovery and the grade of the vanadium you get from that magnetic concentrate.

Pursuit has now delivered results of as high as 2.5 per cent vanadium pentoxide (V2O5) in magnetite concentrate which competes with the very best projects around the world.

And the company has already demonstrated the exceptional thickness of vanadium mineralisation within the Airijoki project.

Pursuit previously reported thick hits of 178m of vanadium mineralisation from a depth of just 12m and 112m from just 13m.

It was also able to produce up to 2.3 per cent V2O5 in magnetite concentrate from the 178m hit, while a thicker intercept of 213.2m returned grades of up to 2.2 per cent.

Managing director Jeremy Read said the results exceeded expectations due to the mineralisation being up to and exceeding 200m in down hole thickness, while still producing vanadium magnetite concentrate grades over 2 per cent V2O5 for downhole thicknesses up to 152m.

“We now know that the southwest magnetic zone at Airjijoki is a major new accumulation of vanadium mineralisation producing vanadium magnetite concentrates whose grade is in the very upper echelon of vanadium projects globally, which is a fantastic result for the project,” he said.

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Once Pursuit has received the results from the final nine holes drilled into the northeast magnetic zone, the company will work on defining a maiden JORC inferred resource before moving onto a scoping study.

JORC refers to the mining industry’s official code for reporting exploration results, mineral resources and ore reserves, managed by the Australasian Joint Ore Reserves Committee.

Mineral resources are categorised in order of increasing geological confidence as inferred, indicated or measured.

Results for the vanadium magnetite concentrates from nine holes drilled into the northeast magnetic zone are expected to be received in late January/early February.

Pursuit Minerals is a Stockhead advertiser.
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