Announcement • Mar 30
Pursuit Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 7 million. Pursuit Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 7 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 46,947,370
Price\Range: AUD 0.095
Discount Per Security: AUD 0.0057
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 26,736,843
Price\Range: AUD 0.095
Discount Per Security: AUD 0.0057
Transaction Features: Subsequent Direct Listing New Risk • Feb 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 37% per year over the past 5 years. Shareholders have been substantially diluted in the past year (185% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$25.9m market cap, or US$18.2m). Announcement • Feb 02
Pursuit Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 7 million. Pursuit Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 7 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 73,684,211
Price\Range: AUD 0.095
Discount Per Security: AUD 0.0057
Transaction Features: Subsequent Direct Listing Announcement • Oct 03
Pursuit Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 4.041887 million. Pursuit Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 4.041887 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 53,891,824
Price\Range: AUD 0.075
Discount Per Security: AUD 0.0045
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Oct 01
Pursuit Minerals Limited, Annual General Meeting, Nov 07, 2025 Pursuit Minerals Limited, Annual General Meeting, Nov 07, 2025. New Risk • Sep 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 14% per year over the past 5 years. Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$11.1m market cap, or US$7.30m). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Share price has been volatile over the past 3 months (19% average weekly change). New Risk • Sep 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 14% per year over the past 5 years. Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$12.1m market cap, or US$7.97m). New Risk • Jul 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 14% per year over the past 5 years. Shareholders have been substantially diluted in the past year (37% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$5.68m market cap, or US$3.74m). Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). Announcement • Apr 08
Pursuit Minerals Ltd Announces the Successful Production of Its First Lithium Carbonate At Its 250Tpa Lithium Carbonate Pilot Plant, Located in Salta, Argentina Pursuit Minerals Ltd. announced the successful production of its first Lithium Carbonate at its 250tpa Lithium Carbonate Pilot Plant, located in Salta, Argentina. The plant has commenced processing synthetic brine formulated to replicate the chemistry of evaporated brines from the Rio Grande Sur Project, producing high-purity lithium carbonate and marking a significant milestone in the Company's lithium development strategy. Pilot plant has produced its first high-purity lithium carbonates using synthetic brine identical in chemical composition to the Rio Grande Sur brines. 98.9% lithium carbonate equivalent (LCE) successfully produced, validating process design and brine compatibility for conventional scalable processing. Completion of first production confirms full operational readiness. Initial samples to be sent to potential off-take partners and interested parties. Processing parameters are now being optimised to upgrade product purity to 99.95% LCE, targeting battery-grade specification and enhanced market value. Robust operational framework established, significantly de-risking the transition to commercial-scale production and supporting long-term project growth. First production of high purity Lithium Carbonate. Any reference to production capacity should not be interpreted as an indication of future economic viability or actual production levels. Following the successful commencement of production, Pursuit is advancing the next phase of its development strategy with a disciplined and focused approach. Key priorities include: Planning for the relocation of the 250tpa Pilot Plant to the Rio Grande Sur Project site. Construction of low-cost test ponds for the evaporation of Rio Grande brine for further small batch production testing at the Pilot Plant. Argentina, a Tier 1 Lithium Jurisdiction. Argentina continues to solidify its status as a premier mining jurisdiction, exemplified by significant investments such as Rio Tinto's USD 6.7 billion acquisition of Arcadium Lithium, encompassing the Fenix and Olaroz Lithium Mines in Catamarca and Jujuy provinces. Similarly, BHP's transaction with Lundin Mining in the $3.25 billion buyout of Filo Corp. aims to develop copper mines in San Juan province. Recently, Galan Lithium rejected a $150 million acquisition offer from Zhejiang Huayou Cobalt and Renault Group for its Hombre Muerto West and Candelas projects in Argentina, deeming the bid "opportunistic" and undervaluing the assets. This development reflects the increasing strategic value of Argentine lithium assets in the global market. The surge in mergers and acquisitions, along with significant capital expenditures by major miners, underscores Argentina's attractiveness for long-term investment. This is further bolstered by supportive government reforms like the Regimen de Incentivos para Grandes Inversiones (RIGI), offering generous 30-year tax, trade, and foreign exchange benefits for projects exceeding USD 200 million across key sectors, including mining, energy, and infrastructure. In this dynamic environment, Pursuit remains committed to evaluating acquisition and development opportunities within Argentina seeking complementary assets to its large-scale, high-grade Rio Grande Sur Lithium Project. Announcement • Mar 24
Pursuit Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.1 million. Pursuit Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 18,333,333
Price\Range: AUD 0.06
Discount Per Security: AUD 0.0036
Transaction Features: Subsequent Direct Listing New Risk • Mar 16
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$5.4m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$5.4m free cash flow). Earnings have declined by 14% per year over the past 5 years. Shareholders have been substantially diluted in the past year (40% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$6.03m market cap, or US$3.81m). New Risk • Jan 09
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 61% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (34% average weekly change). Shareholders have been substantially diluted in the past year (61% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$8.09m market cap, or US$5.02m). Announcement • Oct 10
Pursuit Minerals Limited, Annual General Meeting, Nov 21, 2024 Pursuit Minerals Limited, Annual General Meeting, Nov 21, 2024. New Risk • Sep 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (35% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (AU$9.09m market cap, or US$6.28m). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Shareholders have been diluted in the past year (42% increase in shares outstanding). Announcement • Sep 10
Pursuit Minerals Limited Appointment Stephen Layton as Non-Executive Director Pursuit Minerals Limited announced Mr. Stephen Layton has been appointed as a Non-Executive Director effective 9 September 2024. Mr. Layton has over 35 years of experience in Equity Capital Markets in the UK and Australia. Beginning his career as a Jobber (market maker) with Wedd, Durlacher (subsequently BZW) on the trading floor of the London Stock Exchange from 1980 to 1986, he became a Member of the London Stock Exchange in 1985. Since migrating to Australia in 1986, Mr. Layton has worked with various stockbroking firms and/or AFSL-regulated Corporate Advisory firms. Mr. Layton has specialised in capital raising services and opportunities, corporate advisory and facilitation of ASX listings. In his advisory career, Mr. Layton has held both Principal and Director roles. His professional associations include Master Practitioner Member of the Stockbrokers and Investment Advisers Association (MSIAA). Mr. Layton is currently a Non-Executive Director of Mithril Silver and Gold Limited and EQ Resources Limited. Announcement • Jul 10
Pursuit Minerals Ltd Provides Update on its Maiden Stage 1 Drilling Program with the Commencement of Drill Hole 2 on the Sal Rio 02 Tenement Pursuit Minerals Ltd. provided the following update on its maiden Stage 1 Drilling Program with the commencement of Drill Hole 2 ("DDH-2") on the Sal Rio 02 tenement. Drill Hole 2 (DDH-2) of the Stage 1 drilling programme has now commenced on site at the Rio Grande Sur Project following the recent completion of Drill Hole 1 (DDH-1) at the Maria Magdelena tenement which yielded exceptional high-grade intercepts of above 600mg/l from ~115m through to ~500m. The location of DDH-2 at Sal Rio 02 was selected by the geological onsite team following interpretation of the Transient Electromagnetic (TEM) survey results from field work carried out in late 2023. The Sal Rio II tenement is located on the margins of the salar, and the TEM indicates the presence of a thick conductive layer which is considered highly prospective for lithium brine. Intercalation of volcanics, alluvial fan sediment and halite are characteristic of the margins of the mature salars, and this is supported not only by the TEM data for the tenements but also by the outcrops of volcanic rocks and alluvial presence of large alluvial deposits observed during the site visit by SRK in 2023. The average thickness is approximately 10m to 20m in the TEM data and is possibly composed of interbedded clastic sediments (e.g., silt, fine sand) and massive halite observed on the surface. Relatively high values of resistivity are likely related to brine diluted by fresh or brackish water coming from the western margin of the salar. The Sal Rio II tenement is characterised by a large, thick and contiguous extremely low resistivity layer located from 20m depth to approximately 300m. The very high conductivity of this layer renders any collected TEM data below 250m uncertain, however low resistivity layers below this depth suggest that the layer continues at depth. This layer is possibly composed of interbedded clastic sediments (e.g., silts, sands) or fractured volcanic rocks. The low resistivity layers suggest it is porous and host to high brine concentrations. Interpretation of specific lithologies near the margins from TEM data can be considered uncertain as the potential for unexpected lithologies to sub crop on the margins of mature Salars. Announcement • Jun 14
Pursuit Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 2.5 million. Pursuit Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 2.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 714,285,714
Price\Range: AUD 0.0035
Discount Per Security: AUD 0.00021
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Jan 31
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.7m (US$9.69m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$5.8m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Shareholders have been substantially diluted in the past year (158% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$14.7m market cap, or US$9.69m). Announcement • Dec 12
Pursuit Minerals Ltd Provides Update on Key Developments for Its Lithium Carbonate Pilot Plant At the Rio Grande Sur Lithium Project Pursuit Minerals Ltd. provided the following update on key developments for its Lithium Carbonate Pilot Plant at the Rio Grande Sur Lithium Project following a recent site visit by management to Argentina. Lithium Carbonate Pilot Plant The Company is progressing with its commissioning and start up works of the Lithium Carbonate Pilot Plant. The plant is currently in the process of being commissioned with equipment currently being refurbished for testing of the circuit and first production of material. This process is being overseen by Pursuit’s plant operations and engineering team led by: Pedro Mauricio Torres Senior Lithium Process Engineer. Mr. Torres has been working for more than 15 years in Lithium Projects (Process, Operation, Engineering and Project area), in Chile where he worked for more than 10 years in a senior role at SQM and was in charge of carrying out the commissioning of the new La Negra Lithium Hydroxide Plant. In addition, Mr. Torres has held senior roles with Galaxy Lithium now Allkem and Alpha Lithium Corp. Mr. Torres is an engineer with significant experience in the development of lithium processing operations with a strong technical profile. He is one of the founders of Beyond Lithium LLC Consultants. Adrian Arias Senior Lithium Brine Technology Engineer Mr. Arias has held senior roles with several different Lithium development companies with vast experience in Argentina, with a focus on the development of chemical plants. Mr. Arias was formerly the Process Manager of the Sal de Vida Project of Allkem in addition to being a consultant of Alpha Lithium Corp. in the establishment of its Pilot Plant at the Tolilar Salar. Currently, Mr. Arias is the leader of technology development for Beyond Lithium LLC, where his experience in laboratories, field testing and operations development positions him as a leader in the construction of Lithium Projects focusing on the brines of the Argentine Puna. Worley Process Report - Mass Balance, Evaporation Ponds and Li2CO3 100tpa Plant Study Earlier in 2023, Pursuit commissioned global engineering firm Worley to commission a study to outline a process route for the Rio Grande Brines through development of a dynamic mass balance for the production of 100 tonnes per annum of battery grade lithium carbonate, through the use of evaporation ponds and a lithium carbonate plant. Worley has now developed the dynamic simulation of the evaporation ponds and the lithium carbonate plant to produce 100 TPA of battery grade lithium carbonate. To achieve this production, the following consecutive stages are defined: Solar evaporation through Halite Ponds; Impurity removal through Liming Plant; Solar evaporation through Sylvinite Ponds; Boron removal through solvent extraction (SX); Calcium and Magnesium (impurity removal) through reagent addition; Calcium and Magnesium removal through ion exchange columns (IX); Lithium carbonate precipitation through soda ash addition; Drying and cooling. With the definition of these stages, as well as with the definition of certain assumptions and parameters, the dynamic simulation was developed for the evaporation ponds and lithium carbonate plant with the results summarized as follows: Effective area required for the solar evaporation ponds: o 57,005 m²; Lithium concentration in brine at the outlet of the evaporation ponds (inlet of lithium carbonate plant): o 1.67 % Li (% w/w). Final production of lithium carbonate: o 100.04 TPA; Lithium content in lithium carbonate battery grade: o 99.99586% (purity); The simulation resulted in the following conceptual lithium recoveries: o Ponds: 70% o Lithium carbonate plant: 78% The pond simulation has established that Rio Grande brine will be able to commence processing into the plant circuit after 363 days where the brine will reach 1.6-1.8% Lithium after reaching ‘Out Pond S4’ being the final pond. To generate this level of production, Worley has concluded 57,005m² of evaporation ponds are required to continuously feed the lithium carbonate plant with a target production of 100.04 tonnes per annum of Battery Grade Lithium Carbonate. 250tpa Plant Capacity Increase Building on the study carried out by Worley, Pursuit’s engineering team has carried out a gap analysis of the pilot plant equipment to identify the additional tanks and equipment required to upgrade the plant capacity from its existing 100tpa to 250tpa with the following operations layout designed. In conjunction with the plant layout Pursuit’s engineering team, under the direction of Mr. Torres and Mr. Adrias, has developed an upgraded mass balance and plant design for increased capacity to 250tpa. The plant design has been separated into two stages, the liming plant component, which is intended to be constructed at site upon relocation of the plant to the Salar, and the process circuit, which is currently being commissioned for operation at Pursuit’s facility in Salta. It is expected that the upgraded 250tpa plant will produce a 99.5% battery grade Lithium Carbonate, a product with guaranteed 99.5 wt. % purity and a relatively fine particle size. Battery Grade product is a superior purity grade for use as a precursor in making critical battery materials. It is intended that the plant refurbishment, capacity upgrade and commissioning will be completed in the first quarter of 2024 where the Pilot Plant will have an operational capacity of 250tpa, upon which Pursuit’s engineering team will commence production of Lithium Carbonate from the plant. Currently, Pursuit’s engineering team is developing the pond layout and design for the 250tpa plant for the environmental permit applications for construction of the evaporation ponds. The construction of the ponds is anticipated to occur in the second half of 2024 subject to environmental approvals from discussions with the Salta Mining Secretary, other relevant government stakeholders and Pursuit board approval. The ponds and plant are intended to be located on the Sal Rio 02 tenement where first production of Lithium Carbonate at site could occur in 2025. New Risk • Oct 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$5.8m free cash flow). Shareholders have been substantially diluted in the past year (157% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (AU$25.6m market cap, or US$16.4m). Announcement • Oct 05
Pursuit Minerals Limited, Annual General Meeting, Nov 28, 2023 Pursuit Minerals Limited, Annual General Meeting, Nov 28, 2023. New Risk • Sep 30
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$5.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$5.8m free cash flow). Shareholders have been substantially diluted in the past year (195% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$26.5m market cap, or US$17.0m). Announcement • Sep 01
Pursuit Minerals Limited Announces Executive Changes Pursuit Minerals Limited announced the resignation of Mr. Mark Freeman as Finance Director and Company Secretary effective 31 August 2023. The Company announced that Mr. Vito Interlandi has been appointed as Company Secretary effective 1 September 2023. Mr. Interlandi is the Managing Partner of Nexia Melbourne and is responsible for Corporate Advisory at Nexia Melbourne. Mr. Interlandi has over 20 years of finance, accounting, and capital markets expertise where he has served as a board member and advisor to a number of listed and unlisted companies across a range of industries. Announcement • Aug 18
Pursuit Minerals Limited (ASX:PUR) acquired Lithium Carbonate Pilot Plant. Pursuit Minerals Limited (ASX:PUR) entered into a binding agreement to acquire Lithium Carbonate Pilot Plant for $0.365 million on May 8, 2023. The deal is subject to subject to conditions precedent and satisfaction of due diligence.
Pursuit Minerals Limited (ASX:PUR) completed the acquisition of Lithium Carbonate Pilot Plant on August 17, 2023. Recent Insider Transactions Derivative • Jul 28
CFO, Company Secretary exercised options to buy AU$462k worth of stock. On the 27th of July, Mark Freeman exercised options to buy 33m shares at a strike price of around AU$0.0049, costing a total of AU$161k. This transaction amounted to 325% of their direct individual holding at the time of the trade. Since September 2022, Mark's direct individual holding has increased from 2.57m shares to 10.15m. Company insiders have collectively bought AU$252k more than they sold, via options and on-market transactions, in the last 12 months. New Risk • Jun 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (175% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (AU$33.9m market cap, or US$22.9m). Announcement • May 09
Pursuit Minerals Limited (ASX:PUR) entered into a binding agreement to acquire Lithium Carbonate Pilot Plant for $0.365 million. Pursuit Minerals Limited (ASX:PUR) entered into a binding agreement to acquire Lithium Carbonate Pilot Plant for $0.365 million on May 8, 2023. The deal is subject to subject to conditions precedent and satisfaction of due diligence. Announcement • Jan 20
Pursuit Minerals Limited Announces 1m Re-Assays of Commando Ac Au Samples Pursuit Minerals Limited provided 1m re-assay results from Air Core (AC) drilling at the Commando Project in June 2022. As advised in October 20221, Pursuit completed a 5,290m Air Core (AC) drill program (142 holes) at Commando in June to follow-up gold auger geochemical anomalies. Composite samples were submitted to Bureau Veritas Kalgoorlie for a typical orogenic gold system Aqua Regia assay suite and significant assay results >0.1 g/t Au. Following review of these results the exploration team resampled the anomalous intervals on an individual metre basis and submitted these results to ALS for confirmation assays. AC Drill Results - Bungarra Prospect: Drilling at Bungarra Prospect discovered a deep weathering trough trending NE-SW with significant chlorite and albite alteration of saprolitic granite. These wide-spaced 320m x 80m traverses have identified a >800m trend of low-grade bottom-of-hole (BOH) bedrock gold mineralisation up to 200m wide, similar to early exploration results of the Golden Cities gold deposits (1.5m Oz Au - Federal, Havana-Suva and Jakarta) by AMAX and Centaur Mining less than 5km to the east. Assays from one-meter samples of anomalous composite zones (Table 1) have been received indicating stronger mineralisation than previously reported at the end of hole for 22KAC056, 057, 059, 130 and 131 with all of these holes reporting > 0.3 g/t and up to 0.98 g/t gold. The Bungarra mineralisation appears to run NW-SE, similar to the trend observed at Havana-Suva and Federal gold deposits nearby, although additional drilling is required to confirm this. The gold mineralisation is hosted in weakly oxidised granite as noted previously. Additional drilling is required to clarify grades below these first BOH anomalies. AC Drill Results - Wedge and Whisperer Prospects: At Paddington North, 42 holes across auger gold anomalies were completed along the highly sheared greenstone-granite contact at Wedge, as well as the Whisperer mafic body within nine mile monzogranite. At Wedge, strong chlorite-biotite alteration is developed whilst at Whisperer quartz-sericite and iron alteration was noted. Anomalous gold mineralisation was identified at 5 holes at Paddington North, 3 holes at Wedge and 2 holes at Whisperer. Gold at Wedge is located at the western and eastern holes of line 6630920N where hole depths are very shallow, reflecting the very fresh nature of lithologies in these areas (138g found recently). Best result was 4m @ 1.03 g/t Au from 16m to BOH in hole 22KAS084. One metre re-assays returned 2m @ 2.08 g/t Au from 18m to BOH with both samples returning above 2 g/t gold. Step-out holes will require RC or AC hammer to explore this mineralisation due to the hard fresh nature of the rocks. Sericitic altered granite hosted mineralisation in the bottom of hole 22KAC084 19-20m reported 2.04 g/t Au. At Whisperer gold grades up to 3.09 g/t were located on line 6629870N to the north of historical workings and close to the greenstone-granodiorite contact, a common structural setting for gold mineralisation in the area. The results to date warrant follow-up drilling at Whisperer. Announcement • Dec 08
Pursuit Minerals Limited Provides Warrior Project Exploration Update on Activities at Calingiri East, Calingiri West, Bindi Bindi and Wubin Projects Pursuit Minerals Limited provided a Warrior Project exploration update on activities at Calingiri East, Calingiri West, Bindi Bindi and Wubin Projects. STRATEGIC SAMPLE PURCHASE: Following on from the strategic purchase of historic Dominion/Quadrio RC and AC drilling samples from Caravel Minerals in July, the Company has now secured up to 1,553 auger samples with existing sample database from Caravel for $5 per sample. The samples cover a large section of the Calingiri East tenement north of Ablett which has never been explored for Ni-Cu PGE's or REE minerals. Most samples were only analysed for Au, Cu and Pb and the purchase allows Pursuit to understand the detailed geochemistry of the area without negotiating access agreements first. Once samples are received and assayed, the results will enhance understanding of mineralisation at Calingiri East which will flow into 2023 AC drilling programs. REE RE-SAMPLING: Pursuit geologists have identified and re-submitted 134 high priority samples from the 2022 auger and AC drill campaigns for broad REE suite re-assay. Results are expected within 2-3 weeks. PHIL'S HILL 3D MODEL: All available geological, geophysical and drilling data has been synthesised by Pursuit geologists to create a 3D model to aid targeting new areas of higher-grade mineralisation at the prospect. The process has highlighted the role of a prominent NE-SW trending fault crossing close to the southern diamond holes at Phil's Hill where downhole EM (DHEM) confirmed multiple conductive plates in a `Christmas tree' pattern that could be related to a sulphide stockwork. Cross-cutting faults such as this can cause local dislocation and brecciation, opening pore space for fluids to occupy and potentially deposit mineralisation. Planned forthcoming AC drilling will target this area for bedrock sulphide mineralisation. Ablett: The Company is currently finalising an AC drilling program over Ablett to explore beneath and extend BOH gold and REE anomalism. The Program is anticipated to be ~80 holes and covers the areas in red. Phil's Hill: The Company is currently finalising an AC drilling program over Phil's Hill to extend bedrock sampling from copper and platinum geochemical targets drilled at Phil's West and the southern cross-cutting fault. In addition, it will explore the recently highlighted REE anomalism from auger sampling. The Program is anticipated to be ~36 holes and covers the areas in red. Drilling is anticipated to begin H1 2023. PROPOSED AC DRILLING: Figure 6 shows proposed AC drillholes across outcropping ultramafic rocks associated with encouraging surface Cu- Fe and Ni-Cr geochemistry and a surface MLEM anomaly. As reported recently, Ce and La REE anomalism in auger samples is found in the same area and re-assay of these samples is currently underway for the remaining REE elements not previously analysed for. Approximately 29 holes (white dots below) are planned in three traverse which is scheduled for H1 2023 once crops are harvested. Calingiri West E70/5378: Roses Prospect - Three 200 m spaced MLEM traverses were completed over an anomaly identified in the VTEM data on the western edge of tenement E70/5378. The northern line had to be truncated due to time constraints and thick vegetation. The data confirms the VTEM anomaly, suggesting a dip to the east and back under the tenement. A second anomaly not obvious in the VTEM was observed on the southern two lines. Forthcoming field work after harvest will explore the surface up-dip expression of these modelled plates, combined with field mapping for ultramafic rocks along with soil geochemistry. RC or AC drilling will follow on prospective areas. Anzac Hill Prospect - Once crops are harvested field work will begin to understand EM trends identified by surface MLEM surveying in May. Wubin E70/5378: Following a strategic review, the Company has relinquished part of Wubin project area covered by the Lake Monger Heritage Walkway as it is unlikely that the company would be able to explore these areas in the future. The original tenements (white) and new tenement areas (black lines) are shown below and the reduction will allow Pursuit to focus on more prospective areas in the West, with a 2,390 hole auger program outlined for completion H1 2023. Next Steps: Assay recently acquired Caravel samples (1,553) for broad multi-element suite covering the north eastern section of Calinigiri East. Complete additional REE testwork on Calingiri East and Bindi Bindi auger samples. Field mapping, ground truthing at Calingiri West of MLEM trends/plates at Roses and Anzac Hill prospects once crops are harvested. Revise proposed AC programs as needed following the re-assaying results. Additional auger sampling and field mapping at Calingiri East and Bindi Bindi in areas of no geochemical coverage. Announcement • Nov 25
Pursuit Minerals Limited Reports That an Initial Technical Review of REE Geochemistry in Auger and Drill Samples At Calingiri Pursuit Minerals Limited reported that an initial technical review of REE geochemistry in auger and drill samples at Calingiri East and Bindi Bindi has highlighted the potential for REE mineralisation. Ionic Clay REE's - A review of available aqua regia assay data from auger drilling1 at Calingiri East highlights widespread Ce, La and Y anomalism2 in regolith across the Calingiri East tenement (Figure 2). Values to 362 ppm Ce and 240ppm La were reported, both results greater than 6x average crustal abundance. Two new >2km large coincident Ce-La anomalies, Ablett East and Phil's Northwest can be seen in Figure 2. Both these prospects have no drill testing, and significant AC results discussed below have not targeted areas of REE anomalism. Only Ce, La and Y were reported in the initial assay results so re-assay work using a broader REE suite has been requested. A table of significant results can be found in Appendix 1 and table of REE average crustal abundance (eg Ce ~60ppm) can be found in Appendix 2, highlighting the highly anomalous and extensive nature of these auger results. REE's in Drilling - Highly anomalous REE's are noted from past drilling3 with Phil's Hill West hole 22WAC003 (Figure 3) returning Ce+La+Y of 1,549ppm (16-24m, Table 1) from aqua regia assays with a limited REE suite. The aqua regia digest also tends to understate contained REE's as it is only a partial rock digest whereby some material is not liberated for reading by the assay instrument. Phil's Hill diamond samples returned >500ppm Ce from 24-25m and 165-166.5m downhole. Additional work is needed to understand these results which will feed into drill programs at Phil's Hill in the first half of 2023. The anomalism appears to be spatially related to granite contacts with greenstone or ultramafic units and highlights enrichment in regolith clays as well as bedrock hydrothermal mineralisation. It is clear that additional auger drilling is required both east and west of current coverage to clarify the distribution further. The additional drilling is likely to be undertaken following AC drilling in the first half of 2023. The REE review of Bindi Bindi auger assay results identified a number of >1km coherent and coincident Ce and La anomalies (Figure 5) with peak Ce value of 440ppm. The REE anomalism is also coincident with Cu/Fe and Ni/Cr ratio anomalism previously reported in the centre of the sample grid, which appears to be mapping the edges of ultramafic contacts with host sediments. Planned drill testing of the anomalous Ni-Cu target in the first half of 2023 will also test the REE trends and additional auger sampling is planned to the east and north of current drill coverage. The group of metals referred to as rare earth elements (REE) comprises the 15 elements of the lanthanide series. Metals in the lanthanide series are: lanthanum (La), cerium (Ce), praseodymium (Pr), neodymium (Nd), promethium (Pm), samarium (Sm), europium (Eu), gadolinium (Gd), terbium (Tb), dysprosium (Dy), holmium (Ho), erbium (Er), thulium (Tm), ytterbium (Yb) and lutetium (Lu). In addition, yttrium (Y) and scandium (Sc) are often grouped with the lanthanides and referred to as REE. Neodymium-Praseodymium (NdPr) oxide is the key input to rare-earth magnets used in the motors and generators of electric and hybrid vehicles, wind turbines, and a variety of other clean energy applications. These rare-earth magnets are 10 times the strength for the same weight as conventional magnets, and there is currently no known substitute for these REE's. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Non-Executive Independent Chairman Pete Wall was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 29
Pursuit Minerals Limited Provides Assay Results from Air Core (AC) Drilling At the Commando Project in June 2022 Pursuit Minerals Limited provide assay results from Air Core (AC) drilling at the Commando Project in June 2022. Drilling at Bungarra Prospect discovered a deep weathering trough trending NE-SW with significant chlorite and albite alteration of saprolitic granite. These wide-spaced 320m x80m traverses have identified a >800m trend of low-grade bottom-of-hole (BOH) bedrock gold mineralisation up to 200m wide, similar to early exploration results of the Golden Cities gold deposits (~1.5m Oz Au -Federal, Havana-Suva and Jakarta) by AMAX and Centaur Mining. The Bungarra mineralisation appears to trend NW, similar to the trend observed at Havana-Suva and Federal gold deposits nearby, although additional drilling is required to confirm this. The gold mineralisation is hosted in weakly oxidised granite as noted in Plate 1 below. It is not known if grades will increase substantially below these first BOH anomalies and additional drilling is required to clarify this. One-metre samples of anomalous composite zones havebeen collected and submitted for urgent assay at ALS Laboratories Perth. The 5 holes drilled at WCUB911 located strong potassic alteration and one shallow result of 4m @ 0.81 g/t Au confirms gold anomalism at the prospect. Drilling at Skink prospect failed to locate any significant gold mineralisation in the iron and silica altered saprolitic granite (14 holes completed, average depth 29.6m). At Paddington North, 42 holes across auger gold anomalies were completed along the highly sheared greenstone-granite contact at Wedge, as well as the Whisperer mafic body within 9-mile monzogranite. At Wedge, strong chlorite-biotite alteration is developed whilst at Whisperer quartz-sericite and iron alteration was noted. At Whisperer the best grades were located on line 6629870N to the north of historical workings and close to the greenstone-granodiorite contact, a common structural setting for gold mineralisation in the area. Additional drilling is warranted to search for high grade mineralisation at Whisperer. Announcement • Oct 10
Pursuit Minerals Limited, Annual General Meeting, Nov 25, 2022 Pursuit Minerals Limited, Annual General Meeting, Nov 25, 2022. Announcement • Sep 14
Pursuit Minerals Limited Provides Update on 1M Re-Assay Gold Results of Anomalous Air Core Drill Samples Pursuit Minerals Limited provided an update on 1m re-assay gold results of anomalous Air Core (AC) drill samples from the Company's Calingiri East drilling program in May. In May and June Pursuit completed total of 58 AC holes for 2,085m at Calingiri East, with 24 holes for 971m completed at Ablett prospect. At Smogo's 16 holes for 568m were completed while at Phil's Hill West 18 holes for 519m were drilled. At Ablett drilling identified low grade gold mineralisation in composite 4m intervals1 beneath the auger geological anomaly reported on 31st March 2022. The drilling extended the NNW-SSE trending gold mineralisation footprint to >800m, which aligns with gold mineralisation previously discovered by Quadrio Exploration and remains open along strike. One metre samples from anomalous 4m composite intervals were submitted to ALS Perth for Aqua Regia digest and ICP analysis. Results highlight gold mineralisation up to 1.34g/t in ferricrete regolith, in saprolite and basement rocks as well as anomalous pathfinder elements Ag, As, Bi, Cu, Mo and Pb. Gold in basement is associated with quartz-biotite alteration of mafic lithologies, with lithological boundaries appearing to be a factor in the development of mineralisation. Analysis of these intervals highlights the alteration and mineralisation is similar to gold mineralisation at Ausgold Limited's Katanning gold project (2.1m Oz @ 1.21 g/t Au2) in WA's southwest. The mineralisation footprint has broadened significantly to >160m wide with two bedrock mineralisation zones on middle section 6 555 370N. This accords well with mineralisation discovered by Quadrio (Caravel) on line 6 555 000N to the south. The system remains open to the south and north and additional step-out AC drilling will be required to expand the footprint before RC drilling to explore the system at depth. The presence of gold in overlying regolith discovered by Pursuit's auger sampling is closely related to the bedrock mineralisation found to date, confirming its value in targeting gold in the area. Next Steps: Plan additional AC drilling in Fourth Quarter at Ablett to outline limits of the system and Complete 3D model of Phil's Hill to aid drill planning there. Announcement • Sep 07
Pursuit Minerals Provides Warrior Project Exploration Update on MLEM Survey Results and Caravel Historical Sample Assay Results Pursuit Minerals Limited provided a Warrior Project exploration update on MLEM survey results and Caravel historical sample assay results. At Calingiri West (Figure 1, E70/5378) the Roses and Anzac Hill Prospect surveys were designed to follow-up anomalies observed in 2021 VTEM survey. The Smogo's MLEM survey at Calingiri East (E70/5379) followed up a mid-time VTEM anomaly in outcropping ultramafics with elevated Cu, Pt and Pd geochemistry. Surveying at Bindi Bindi (E70/5392) was to explore for basement conductors associated with encouraging surface geochemistry in outcropping ultramafics. Roses Prospect - Three 200 m spaced MLEM traverses were completed over an anomaly identified in the VTEM data on the western edge of tenement E70/5378. The northern line had to be truncated due to time constraints and thick vegetation. The data confirms the VTEM anomaly, suggesting a dip to the east and back under the tenement. A second anomaly not obvious in the VTEM was observed on the southern two lines. The two anomalies were modelled by the Company's consulting geophysicists, finding two EM plates, both dipping gently 500-550 to the east with relatively low conductance. The western conductor is approximately 820m long with 644m dip extent. It appears to be associated with a change of strike in the near N-S orientated lithology, potentially related to faulting, an intrusion or stress focused in this area. Such areas are potential locations for mineralisation. Announcement • Aug 08
Pursuit Minerals Limited Provides Exploration Update for Warrior Project, Including Air Core (Ac) Drilling Results from Calingiri East and Auger Geochemistry Results from Bindi Bindi Pursuit Minerals Limited provided an exploration update for Warrior Project, including air core (AC) drilling results from Calingiri East and auger geochemistry results from Bindi Bindi. HIGHLIGHTS: 5 Ablett AC holes returned significant results including; 22WAC0030 16m @ 0.19 g/t Au from surface, including 8m @ 0.245 g/t Au from 4m, and 12m @ 0.15 g/t Au from 28m, including 4m @ 0.31 g/t Au from 28m. 22WAC0036 7m @ 0.16 g/t Au from 52m, including 3m @ 0.212 from 56m. 22WAC0037 4m @ 0.125 g/t Au from surface. 22WAC0038 4m @ 0.16 g/t Au from 32m and; 3m @ 0.14 g/t Au from 44m. 22WAC0045 7m @ 0.154 g/t Au from 28m to end of hole (EOH) Auger geochemistry at Bindi Bindi shows Ni/Cr and Cu/Fe anomalism over ultramafics (suggesting sulphide source). In May 22 the Company completed AC drilling (Figure 2) over auger geochemistry targets at Smogo's, Phil's Hill West and Ablett at its 100% owned Calingiri East. A total of 58 holes for 2,085m were completed before wet weather and seeding stopped drilling. Key traverses to the SE of Ablett over highly anomalous Au- Bi-As-Sb weighted-sum geochemistry were not completed and will be considered post crops harvesting in late fourth quarter of 2022. Initial 4-metre composite assay results have been received and are summarised below. Limited AC drilling at Ablett (24 holes for 971m) identified low grade gold mineralisation beneath the auger geological anomaly reported 31st March 2022. The drilling extended the NNW-SSE trending gold mineralisation footprint to >800m, aligns well with gold mineralisation previously discovered by Quadrio Exploration and remains open in all directions. Anomalism is associated with quartz-sericite alteration, with lithological boundaries appearing to be a factor in the development of mineralisation. The orogenic gold Au-Bi-As-Sb-Pb geochemical signature noted in auger sampling of laterites has been confirmed in lower saprolite (weathered bedrock) and basement 4m composite assays from the program (Figure 3), along with bottom of hole (BOH) mineralisation. These broad spaced (320m) first-pass AC traverses suggest a significant gold system in the Ablett area which is very encouraging and warrants follow-up drilling. Resampling of anomalous intervals on a metre basis has been completed and submitted for assay to better understand the gold distribution. A key question is whether gold grades improve or mineralisation widths widen with depth and the Company is planning a considered follow-up program once crops are harvested in late Q4. A limited AC program at Smogo's intersected ultramafics with elevated nickel and chrome. Copper values were generally low and may have been stripped from the ultramafics by hydrothermal activity. It is becoming clearer that Smogo's hosts multiple ultramafic units and further work is needed to map out their distribution. Further MLEM programs may be required to progress the prospects in a measured way once preliminary MLEM results are received. At Phil's Hill West the AC drilling (18 holes for 519m) did not sample Cu, Pd and Pt anomalism previously identified in auger sampling, suggesting the source lies to the east and uphill of the drilling and closer to Phil's Hill itself. This information is being incorporated into a new 3D model of the Phil's Hill mineralising system currently being compiled by Pursuit's exploration team. The 3D model will guide future work at the prospect to locate the source of anomalism and the heart of the mineralising system. Announcement • Jun 16
Pursuit Minerals Limited Announces 5,500M Air Core Drilling Program Underway At Commando Pursuit Minerals Ltd. announced a 5,500m AC drilling program at Commando has commenced, targeting auger geochemical and drillhole Bottom of Hole (BOH) gold anomalies. Federal West: Bungarra 44 holes over 1.5km x 200m >25 ppb Au-Bi-S-Sb anomaly; Skink 14 holes 1.2km x 200m > 25 ppb Au-Bi-S-As-Sb anomaly; WCUB911 target 5 holes to follow up historical gold interval 4m @ 4.2g/t Au - never followed up. Paddington North: Wedge 38 holes over 1.9km x 500m >50 ppb Au-Bi-Sb-Te-Mo-S anomaly; Whisperer 12 holes over 350m x 90m >50 ppb NE-SW trending Au-S-Bi anomaly; Porphyry 2 holes planned over 300m x 70m >100ppb Au anomaly; Sunday Eve 1 hole planned over >100ppb gold anomaly. Gidji: 40 holes across gold anomalies and two shear zones. Air Core (AC) Drilling Underway The Company has commenced its 5,500m 156 hole drilling campaign over the recently announced auger geochemical and Bottom of Hole (BOH) gold anomalies at Commando. The program is focussed on testing anomalism over 8,400m at Gidji, Paddington North and Federal West project areas, including the Gidji, Wedge, Whisperer, Porphyry, Bungarra, Skink and WCUB911 prospects. Paddington North AC Program At Wedge Prospect 38 holes are planned to cover the very large 1.9km x 500m >50ppb Au-Bi-Sb-Te- Mo-S anomaly with values up to 897ppb Au. Close to the 897ppb sample location recent metal detecting located a 0.8g gold nugget. 12 AC holes are planned across the Whisperer Prospect gold anomaly which crosses from greenstones in the west into granite on a NE-SW structure. 2 holes are planned at Porphyry Prospect in this first-pass drill program over a significant 300 m long, 70m wide >100ppb Au anomaly trending NNE which lies within the Scotia Basalt. One hole is planned at the Sunday Eve prospect to test similar > 100 ppb anomalism. Federal West AC Program 63 holes are planned at Federal West with 44 holes across gold anomalies at Bungarra Prospect which includes a geological traverse across broad areas of shallow drainage cover, 14 holes across Skink Prospect, and 5 at the WCUB911 target. Gidji AC Program P24/4967 40 holes are planned to explore anomalous gold anomalies as well as highly prospective structural positions along the Bardoc and Kanowna shear zones that traverse the tenement. Next steps: Pursuit's exploration team is currently preparing to: Complete AC drill traverses across gold anomalies (finish late-June 2022); Receive assay results (late August) and plan additional RC or diamond drilling. Announcement • May 31
Pursuit Minerals Ltd Announces Exciting Results of A Project-Wide Auger Sampling Program and Bottom of Hole (Boh) Sampling of Historical Drilling At Commando Pursuit Minerals Ltd. announced exciting results of a project-wide auger sampling program and Bottom of Hole (BOH) sampling of historical drilling at Commando. This is the first detailed geochemical sampling program ever conducted across the tenement package. The Company recently completed auger geochemical sampling across the entire Commando project area on a 160m x 80m grid. A total of 1,951 samples were collected in the first comprehensive multi-element sampling program ever undertaken in the area. The use of auger sampling was employed to collect material from beneath zones disturbed by past prospector activity and reach closer to bedrock. The auger sampling was moved away from areas of prospector activity and recorded a number of key interpretive parameters such as depth, carbonate content, colour and lithology. Samples were sieved to <2mm and analysed for a 44-element suite by ICP-MS after an aqua regia digest. This assay technique gives shorter reporting times at a time when many assays take 8-10 weeks to return. Given that the aqua regia digest is only a partial digest technique the very high levels of anomalism reported herein are considered both encouraging and significant. Results of the sampling show a number of large new gold anomalies requiring follow up AC drilling as soon as possible. At the Wedge Prospect a very large 1.9km x 500m >50 ppb Au-Bi-Sb-Te-Mo-S anomaly was identified with values up to 895ppb Au. Other significant results include 253ppb, 146ppb, 146ppb and 102ppb Au. The anomalism lies close to the granite-greenstone contact, although most is within the Scotia Basalt to the west. Significantly, the Whisperer Prospect gold anomaly crosses from greenstones in the west into the granite on a NE-SW structure evident in aeromagnetics that runs from the Paddington pit in the west to the Jakarta pit in the east. At Whisperer gold mineralisation is hosted on the contact of a basalt body within the Nine Mile Monzogranite and has never been drilled. Peak gold assay was 150ppb in an area of shallow sheetwash overlying the granite. At the Porphyry Prospect a significant 300 m long, 70m wide >100ppb Au anomaly trending NNE lies within the Scotia Basalt, and historic RC holes do not appear to have explored it effectively. Peak gold values were 187.5ppb Au. At Six Boys gold anomalism extends well beyond areas of past prospecting pits and RC drilling into Nine Mile Monzogranite to the east with peak value 354ppb Au. Further ground work is needed to ensure this area is not reflecting past prospector activity and warrants AC drilling follow-up. The Federal West tenement block lies completely within granitic rocks of the Scotia Dome and along strike of the Golden Cities mines to the east (~1.5m oz Au). Surface geology is obscured by a number of large NE-SW drainages across this project area, covering basement geology and hampering past prospecting and gold exploration. It also makes geochemical sampling less effective, but despite this, two significant +25 ppb Au anomalies were located at the Bungarra and Skink Prospects (new prospects). At the Bungarra Prospect gold anomalism is supported by an auger result of 101 ppb Au along strike to the NE, and resampling of historic holes found on Google Earth 200m along strike returned a BOH value of 91 ppb Au. At the Skink Prospect a historic drillhole 140m from the anomaly reported 323ppb Au 1 which was never followed up. Logging of the auger samples at Skink note broad areas of sub-crop making the anomaly less likely to be derived from transported material and a peak value of 46.5 ppb Au was reported. Structures reflected in the NE-SW drainage pattern appear to be weaknesses in the underlying granite and shear zones, which may be good trap sites for gold mineralisation as they see at Golden Cities. Interestingly, elevated Sulphur (S) to 5% is widespread in this area of broad sheetwash so wide AC traverses will be required to explore it effectively. The Company is considering using additional geophysical techniques such as ground penetrating radar (GPR), passive or active seismic to explore these areas of deeper cover. This tenement lies close to the Gidji roaster in an area of widespread sheet wash with occasional areas of sub-crop. It lies within highly prospective Black Flag Beds, straddling the boundary with Scotia Dome granites to the north and lies close to the junction of the Bardoc and Kanowna shear zones. Auger sampling across the tenement highlights several areas of +25ppb Au anomalism, most notably in the northeast. Rockchip sampling in this area also located a sample with 228ppb Au, confirming the overall prospectivity of the tenement. Logging of holes confirms deeper sheetwash to the south and west, meaning the auger samples do go beneath this transported material and follow-up AC drilling will be needed to explore it. Field reconnaissance by Pursuit's exploration team prior to the auger sampling located an additional 107 drill holes from Google Earth imagery to add to its technical database and 64 were able to be sampled for BOH lithogeochemical laboratory analysis. Results of this work is included within this release. In addition, bottom of hole rock fragments were collected for pXRF analysis in the field with special attention given to regolith depth across the tenements to prioritise the best approach for geochemical sampling. Old workings were visited, and field structural readings collected. Announcement • May 20
Pursuit Minerals Ltd to Provide Further Update on Exploration Programs at the Warrior Project Pursuit Minerals Ltd. to provide a further update on exploration programs at the Warrior Project. Calingiri East E70/5379 - AC drilling of auger anomalies completed; Smogo's Prospect - Moving Loop Electromagnetic surveying (MLEM) underway; and Ablett Prospect - Reverse Circulation (RC) Drilling samples from previous explorers submitted for assay. Calingiri West E70/5378 - Anzac Hill & Roses (previously "Embayment") Prospects - MLEM surveying underway. Bindi Bindi E70/5392 - MLEM surveying underway over ultramafics and Auger sampling underway, finish shortly. Next Steps - Calingiri East - Analyse assays from AC program, expected late June 2022; Smogo's, Anzac Hill, Roses and Bindi Bindi Prospects - Analyse MLEM survey data over; and Submit remaining Ablett AC sample pulps from previous explorers to complete geochemical picture prior to drilling in fourth quarter. Announcement • May 19
Kendrick Resources PLC (LSE:KEN) acquired Nickel and vanadium projects in Norway, Sweden and Finland from Pursuit Minerals Limited (ASX:PUR) for AUD 3.1 million. Kendrick Resources PLC (LSE:KEN) acquired Nickel and vanadium projects in Norway, Sweden and Finland from Pursuit Minerals Limited (ASX:PUR) for AUD 3.1 million on May 17, 2022. Under the terms of transaction, the consideration will be in AUD 2.35 million in 37.9 million Kendrick Shares with 36% free trading with the balance of securities to be free trading over 18 months in three equal tranches, AUD 0.25 million in cash, upon the completion of a Bankable Feasibility Study, on any of the Scandinavian Projects, demonstrating an internal rate of return of not less than 25% and AUD 0.5 million in cash upon a decision to mine in relation to any of the Scandinavian Projects.
Kendrick Resources PLC (LSE:KEN) completed the acquisition of Nickel and vanadium projects in Norway, Sweden and Finland from Pursuit Minerals Limited (ASX:PUR) on May 17, 2022. Announcement • May 10
Pursuit Minerals Ltd Provides Exploration Update on Progress with Warrior Project Pursuit Minerals Ltd. provided an exploration update on progress with the Warrior Project. Pursuit has received final drill core assays from its resampling exercise at Phil's Hill and some significant anomalism was noted. Key highlights are: Strong Ag detected in both near-surface re-sampling and at depth, up to 7.5m @ 6 g/t Ag including 1m @ 14.4 g/t Ag from 3m in hole 21WDD0006; A clear orogenic gold association between Au-S-Ag-Cu-Bi-Mo-(Te) was identified. The broad metal signature strongly suggests that the core of a gold mineralising system could be nearby; Significant Au-Ag-Cu-Mo-Pt-Pd-W anomalism is noted across the prospect. These new Phil's Hill diamond results have refocussed the programs to find the core of the sulphide system and target high-grade mineralisation. Once assays from the company's April AC drilling over Phil's Hill West are received (expected late May) and thoroughly reviewed the next drilling phase may consist of: Targeted RC drilling of EM plates between holes 5 & 6 and holes 2 & 3, 720m to the south, or Broad AC drilling traverses across the entire Phil's Hill area to locate sulphide mineralisation and stronger anomalism. Additional review and re-interpretation of the prior MLEM, VTEM and DHEM results is continuing to further refine the best geophysical methods and survey designs to aid in locating the core of the system. The Company is considering a Fixed Loop EM survey (FLEM) over the Phil's Hill area to more tightly constrain the location of conductor plates identified in the 2021 program. Pursuit commissioned consultant geochemist, Dr Carl Brauhart of CSA Global, to review all past drilling at Calingiri East; including Phil's Hill, Ablett and drilling in the far north of the tenement. Dr Brauhart's analysis was limited by different assay techniques and the small suite of elements analysed by past explorers, key conclusions are: There is a clear Au-S-Ag-Cu-Bi-Mo-(Te) mineral association at Phil's Hill; Cu anomalism to 0.41% is not surface enrichment but reflecting primary mineralization; At Ablett, only Au-As-Cu-(Pb-Zn) were analysed and indicate strong surface and west-dipping/plunging Au enrichment (~6 555 000N) which peaked at 0.37 g/t Au. No strong correlation is seen between Au and the other four elements analysed; Elemental associations suggest strong crustal contamination of ultramafic units to give surprising correlations between Pb, As, Sb and Bi and classic ultramafic elements such as Ni and Cr. The source of the orogenic gold signature Pb, As, Sb and Bi in ultramafics is unclear. Historical drilling results from Ablett were also assessed, and a similar but slightly different suite of metals are associated with gold mineralisation, suggesting that Calingiri East has the capacity to host more than one gold mineralising system. Interpretation of this data was problematic due to the limited elements assayed for. The Company has executed an agreement to acquire from Caravel Minerals Ltd. their 2017 RC drilling program (8 holes, 720m) and the 2009/2010 AC drilling (94 holes, 2,567m) for 2.75m shares (~$60,000) in Pursuit. Access to original pulp and chips will allow for a cost-effective suite of assays to be run significantly assisting in the identification of gold anomalism at the prospect. The Company was successful in completing much of its recent AC drill program across Phil's Hill West prior to crops being sown. However, lengthy POW approval delays within DMIRS has resulted in some areas not being able to be drilled, although the Company is hopeful that approvals will be received before paddocks are closed for cropping. The Company is pleased to confirm that a Land Access agreement has been secured over Calingiri West's Anzac Hill Prospect. The Company anticipates being able to complete ground MLEM shortly. In April 2022, Devex Resources reported2 its Sovereign Hill project to the east of Anzac Hill was the focus of extensive ground EM surveys which located several mid-time responses requiring follow up, one of which borders Pursuit's tenement. In addition, 235 AC holes were completed for 6,082m to map the geology within the mafic-ultramafic sequence under laterite cover. No anomalies were reported by the company from this drilling. Announcement • Apr 28
Pursuit Minerals Limited Announces Oriental Tenement Acquisition at Commando Pursuit Minerals Ltd. announced the acquisition of the Oriental Prospect (P24/5383) to enhance the Commando Project as part of an asset swap deal for the Gladiator Tenements. The Commando project is fast becoming a major focus for the Company and securing the Oriental tenement capitalises on the Company's growing footprint just 38km north of Kalgoorlie and immediately adjacent to 1.5-million-ounce gold mines at Havana-Suva and Federal. Oriental Gold Prospect: 114 historical drillholes, 80 RAB, 33 RC and 1 diamond; Numerous significant intercepts including: 2 m @ 17.3 g/t Au from 83m incl. 1m @ 33.5 g/t Au from 83m, 2 m @ 7.53 g/t Au from 68m incl. 1m @ 12.3 g/t Au from 68m, 1 m @ 12.6 g/t Au from 26m, 1 m @ 9.57 g/t Au from 3m; 2 m @ 4.6 g/t Au from 100m, 2m @ 4.35 g/t Au from 63m, 3m @ 1.77 g/t Ag from 57m; Pursuit rock chip sampling around Oriental shaft returned 108 g/t; Au and 10.5 g/t Au from two samples taken; Shallow drilling, only 29 holes deeper than 100m; Placer Dome 2004 non-JORC gold mineralisation calculation; The net cost of the asset swap to Pursuit is the issue of $70,000 in PUR shares (~2.2m shares) along with a 1% net smelter royalty. Next Steps: Model mineralisation to review controls on gold orientation; Field validation, structural data collection and mapping; and plan future drill programs to extend mineralization. Oriental Prospect significant uplift to Commando Gold Project Footprint: Pursuit Minerals Ltd. announced that as part of its diversification strategy of the recently acquired Commando Project the Company has successfully negotiated an asset swap transaction securing the Oriental Gold Prospect. The Commando project is fast becoming a major focus for the Company and securing Oriental capitalises on the Company's growing footprint just 38km north of Kalgoorlie and immediately adjacent to the 1.5-million-ounce gold mines at Havana-Suva and Federal. The Oriental Prospect represents a significant addition to the highly underexplored Federal West area of the Commando Project, just 38km north of Kalgoorlie and 10km NNE of the Paddington Gold Mine. The most recent drilling at the prospect was in 2001 when the gold price varied between USD 270 and USD 315 per ounce. It lies just 900m along strike of the Havana-Suva and Federal gold mines. Pursuit will acquire the Oriental Prospect and sell its interests in the Gladiator project for a net cost of $70,000 consideration payable in shares (~2.2m shares) and a Net Smelter Royalty (NSR) of 1%. All shares issued to the vendor will be escrowed for 3 months. Announcement • Apr 27
Pursuit Minerals Limited (ASX:PUR) acquired Oriental Prospect (P24/5383). Pursuit Minerals Limited (ASX:PUR) acquired Oriental Prospect (P24/5383) on April 26, 2022.
Pursuit Minerals Limited (ASX:PUR) completed the acquisition of Oriental Prospect (P24/5383) on April 26, 2022. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Non-Executive Independent Chairman Pete Wall was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 12
Pursuit Minerals Ltd Announces Commencement of Field Programs at Commando Project Pursuit Minerals Ltd. announced the commencement of field programs at the Commando Project. Commando Gold Project: Contractor selected for 2,050 sample auger program over entire project area. Field reconnaissance of project completed early March, focus on historical drillholes and regolith depth. Heritage survey of P24/5967 completed, entire project area cleared for field programs. Follow-up Air Core (AC) drill program approximately June 2022. Next Steps: Finish auger program once POW is approved. Collate assays when available and plan AC follow-up program. Commando Gold Project (option to acquire upto 100%): Pursuit Minerals Ltd. announced the acquisition of the Commando Gold Project on December 16, 2021. The Commando Gold Project is located 38 km north from Kalgoorlie and is divided into the Federal West and Paddington North tenements blocks. Fieldwork is underway with field reconnaissance, heritage surveying and auger program planning complete. Under the terms of the acquisition agreement the Company has a 12-month option to acquire 100% of the project subject to spending $150,000 during the option period on exploration. Pursuit will then have the right to exercise its option to acquire 100% ownership interest (via the issue of approximately 13.3m shares) or 45% ownership interest (via the issue of approximately 6.2m shares) in the right title and interest in the Project. Field Reconnaissance: During the recent field reconnaissance program the Company's exploration team located an additional 117 drill holes to add to its technical database and 64 holes were able to be sampled for bottom of hole lithogeochemical laboratory analysis. In addition, bottom of hole (BOH) rock fragments were collected for pXRF analysis in the field with special attention given to the regolith depth across the tenements to prioritise the best approach for geochemical sampling. Old workings were visited, and field structural readings collected. Auger Geochemical Sampling: A comprehensive 160m x 80m auger sampling program has been planned to complete a uniform geochemical assessment across the Project tenements. 2,032 auger samples, including QAQC, will be collected from approximately 1.8m depth and analysed for a broad suite of elements. A goldfields contractor has been engaged to complete the sampling program and the Programs of Work (POW) was lodged with DMIRS in early March. DMIRS are experiencing internal approval delays however the Company anticipates the POW approval to be received shortly. Heritage Survey: During the quarter the Company completed the heritage survey of P24/5967 (Gidji) by the Maduwongga Native Title claimants. Heritage clearances have now been secured across all Project tenements. Geophysical Review: Pursuit has engaged Southern Geoscience Consultants (SGC) to prepare a number of geophysical products to aid field assessments as well as a review of existing government seismic and magnetotelluric (MT) traverses in order to understand the architecture of the project area in more detail. Announcement • Apr 06
Pursuit Minerals Ltd Announces Air Core (Ac) Drilling Has Commenced over Multiple Gold and Copper Targets At the Calingiri East Tenement, Warrior Project Pursuit Minerals Ltd. confirmed Air Core drilling has commenced over the significant Au, As, Bi, Sb, Pb, Ni, Cu, Pd, Pt and Ag anomalies generated by auger geochemistry at the Company's Calingiri East tenement at the Warrior Project (Figure 1). The Air Core drilling program will explore the auger anomalies and collect fresh basement material which will be analysed by handheld pXRF prior to wet assay at ALS Perth. Sampling will initially be in 4 metre composites taken by a sample spear and assayed using an Aqua Regia digest and 44 element suite. Additionally, all bottom of hole (BOH) samples will be sampled separately and analysed using a 4-acid digest and Fire Assay for lithogeochemistry classification and alteration history interpretation. All bulk metre sample bags will be removed from the field immediately after drilling and stored at the Company's Bolgart exploration base. The extensive >100 ppm Cu anomaly co-incident with Ni, Cr, Pt, Pd at Phil's Hill West will be covered by 18 drill holes in this first pass program. If BOH samples show elevated pathfinder elements using a pXRF analyser, infill holes can be drilled before the drill crew leaves site. 15 Air Core holes are planned for this area of outcropping ultramafics with consistent >100ppm Cu anomaly, co-incident with Ni, Cr, Sc, Pt, Pd. Two traverses are planned to cover this anomaly, configured to avoid disturbance to vegetation in the area. Announcement • Apr 03
Pursuit Minerals Ltd Announces Multiple Gold and Copper Targets Identified After Analysis of Auger Soil Sample Assay Results from the Calingiri East Tenement, Warrior Project Pursuit Minerals Ltd. announced that multiple gold and copper targets have been identified after analysis of auger soil sample assay results from the Calingiri East tenement, Warrior Project. Warrior PGE-Ni-Cu Project; Calingiri East; Three high priority gold & copper targets identified in auger results. 700m x 250m gold anomaly, 50 times higher than the surrounding background values, identified at the Ablett prospect. Consultant geochemist confirms Au-Bi-As-Sb-Pb Orogenic Gold basement mineralisation signature at Ablett prospect. A Cr-Ni-Sc-Cu-Pd-Pt association maps ultramafic lithologies prospective for PGE-Ni-Cu mineralisation. Two new, large, untested copper anomalies defined (Smogo's & Phil's Hill West) from auger results. Soil sample results from Smogo's and Phil's Hill West compare very favourably with early soil results over Chalice Mining's Gonneville discovery 1 where 30ppm Cu, 150ppm Ni and 6ppm Pd were considered significant. Three high priority Pd anomalies have been identified at or near the Ablett's prospect. Total of 2,017 samples collected, assays from first 1,533 available, infill pending. Air Core (AC) drilling of targets commencing April 2022 Next Steps. Receive & analyse remaining Calingiri East infill auger assay results. Complete approximately 2,500m of AC drilling (April 2022) at Calingiri East. Receive & analyse Bindi Bindi auger assay results. Plan additional auger sampling at Calingiri East & Bindi Bindi. Announcement • Mar 31
Pursuit Minerals Limited Announces Changes to Executive Team Pursuit Minerals Limited announced that, with the Company's increasing focus on exploration activities, Mr. Bob Affleck will assume the role of full time Managing Director, effective 1 April 2022 with Mr. Freeman continuing to drive the corporate side of the business as Finance Director. Mr. Affleck was appointed 24th April 2021 as Technical Director and has been critical to the advancement of the Company's exploration focus at its WA projects. With over 25 years' experience in the mineral exploration industry, from grassroots data collection to consulting roles in a variety of mineral commodities, his expertise includes project management, technical and prospectus reviews, target generation, training and team mentoring. Announcement • Feb 15
Pursuit Minerals Limited Announces Warrior Exploration Update Pursuit Minerals Ltd. announced an exploration update at the Warrior Project. Warrior PGE-Ni-Cu Project: Calingiri East: 40 km2 Auger sampling program from Phil's Hill to Ablett Prospect has been completed, Sample analysis in progress, Outcropping ultramafic rocks identified in new areas, Follow-up Air Core (AC) drill program April 2022. Bindi Bindi: Auger geochemical program commenced and anticipated to be completed in early March 2022, Outcropping ultramafic rocks identified. Announcement • Jan 12
Pursuit Minerals Limited Receives Assay Results from Soil Sampling Program At Combatant Project Pursuit Minerals Limited announced that soil sampling program at Combatant Project has been completed and assay results received. Sampling and reconnaissance has identified three ultramafic units at Garden Well (E09/2497), Currie Currie Bore (E 09/5496) and Murrum Creek (E 09/5496). The Garden Well ultramafic has a strike length of approximately 1,800m and field mapping has confirmed it consists of multiple units over 450m wide, intercalated with host gneiss. The Currie Currie Bore ultramafic has a strike length of approximately 2,900m and a field traverse confirms it lies within a package of mafic and BIF units and is between 700 and 350m wide. The Murrum Creek ultramafic is an 800 x 700 metre body in flat country with no surface expression. Nickel, copper, gold, platinum and palladium assays are typical of background ultramafic levels with no significant elevated results noted. The results confirm that the tenement package hosts intrusive ultramafic units, and aeromagnetic interpretation indicates that these ultramafics are intrusive in nature. Pursuit will plan additional field programs to effectively test each of these for potential Ni-Cu-PGE mineralisation. Announcement • Sep 24
An unknown buyer acquired EPM 14309 Queensland Exploration Project from Pursuit Minerals Limited (ASX:PUR) for AUD 0.11 million. An unknown buyer acquired EPM 14309 Queensland Exploration Project from Pursuit Minerals Limited (ASX:PUR) for AUD 0.11 million on September 23, 2021. The contract is expected to settle on September 24, 2021.
An unknown buyer completed the acquisition of EPM 14309 Queensland Exploration Project from Pursuit Minerals Limited (ASX:PUR) on September 23, 2021. Announcement • Sep 13
Pursuit Minerals Ltd Announces Downhole Electromagnetic Surveying at the Company's Phil's Hill Prospect in WA Has Been Completed and Data Analysis Completed by Terra Resources Pursuit Minerals Ltd. announced downhole electromagnetic (DHEM) surveying at the Company's Phil's Hill Prospect in WA has been completed and data analysis completed by Terra Resources. Data collected was very high quality and the analysis confirms the presence and has refined the location of several highly conductive anomalies, some aligned with visible sulphide mineralisation. Second Hole - Plate 10a - 21WDD0002: In the second hole, data confirms a very strong conductor (>5,000 s/m) is located around 10m below the existing hole (Plate 10a), which effectively drilled over the top of it. Plate 10a is the largest and highest intensity plate detected by moving loop ground EM (MLEM) and VTEM surveys. A revised drill program will commence with a redrill of Plate 10a based on the new DHEM results next week. First hole - Plate 20a - Hole 21WDD0001: DHEM data from 21WDD0001 is odelled as two conductor plates, which are essentially coincident and caused by varying conductance through the zone of interest. The weaker of the conductors coincides with pyrite/pyrrhotite intersected at 95m downhole. The main conductor (Figure 5) lies just 16m north of the 21WDD0001 hole trace and Pursuit will target this plate with another drill hole following the drilling of Plate of 10a. The conductor dips to the northeast at approximately 50 degrees. In May 20211, the Company announced that highly conductive features (up to 5,093 S/m) were evident on 9 lines of moving loop ground EM (‘MLEM’) data over a strike length of ~1,600 m. The modelled depth to top of the conductors was estimated at ~100 m and coincident with the edge of an interpreted ultramafic sequence. The conductance of the Phil's Hill Prospect is significant and well within the known range of conductance for the Gonneville PGE-Ni-Cu discovery. The June 2021 MLEM extension programme successfully closed off the Phil's Hill conductive package both north and south confirming the highly conductive anomalies are discrete. Announcement • Jul 24
Pursuit Minerals Limited Confirms the Mount Magnet Drilling Rig Pursuit Minerals Limited confirmed the Mount Magnet Drilling Rig is anticipated to spud the 1st of 8 Diamond Holes in the upcoming 1,500m program at Phil's Hill on ~27th July 2021. The Company has made plans to have an XRF unit on site and will expedite the assaying in Perth of compelling mineralised core to the extent it is identified. Announcement • Jun 23
Pursuit Minerals Limited Provides Update on Warrior Project Drilling Pursuit Minerals Ltd. that it has received all permits and access required to commence its drilling program at the promising Phil's Hill PGE-nickel- copper prospect in Western Australia. Department of Mines, Industry Regulation and Safety (DMIRS) has approved the (PoW) application for Phil's Hill Prospect relating to the forthcoming 1,500m diamond drilling programme. Mt Magnet Drilling has been secured with drilling scheduled to commence on or about 15 July 20 1. The Company announced the results of the VTEMTM Max (VTEM) survey completed over the Calingiri East, Calingiri West, and Wubin project areas. The helicopter-borne VTEM system has proven to be a successful way of identifying massive sulphide conductors as it successfully delineated previously known massive sulphide conductors in the Julimar region. A number of EM Conductors were detected, in addition to the previously announced Phil's Hill Prospect as summarised in Table 1 below. These conductors will be followed up with Geochem analysis and MLEM surveys. UTS Geophysics delivered the final digital data for the 1,957 line-kilometre airborne survey in late April 2021. Terra Resources has completed interpreting this data confirming priority targets identified in the dataset. The report focussed its interpretation on the delineation of highly conductive anomalies which represented an association with a PGE-Ni-Cu deposit. Announcement • Jun 12
Pursuit Minerals Ltd Announces Warrior Project Update Pursuit Minerals Ltd. announced that Aboriginal Cultural Heritage requirements have been approved and the Company has been cleared to undertake drilling at Phil's Hill. Drilling approval is now limited to the Program of Work being received, which the Company anticipates by month-end. Refurbishment of the contracted drill rig by Mt Magnet Drilling has been completed and rig will be mobilised to site prior to month end. Follow-up MLEM has been planned to be undertaken in late June with a large EM loop program targeting anomalism at depth. Warrior (100%) - Soil and Rock Anomalies The Company has received results for the 123 soil and 29 rock samples collected over the Warrior Project, located ~20 to 170km north-east of Chalice's high-grade Gonneville PGE-Ni-Cu discovery on the Julimar Project. The Project has direct access to major highway, rail, power and port infrastructure in one of the world's most
attractive mining jurisdictions - Western Australia (Figure 5). Pursuit's sampling has confirmed the presence of anomalous PGE's, Nickel, Copper and Gold associated with mafic-ultramafic rocks which are the host for the PGE-Ni-Cu mineralisation at Julimar. A total of 38 samples assayed elevated levels of Au-Pt-Pd combined anomalism with maximum values of 385ppb (0.38g/t) (Au 381 ppb, Pt 2.5 ppb and Pd 2 ppb). Significant gold anomalism up to 381 ppb was identified at the Ablett prospect at Calingiri east. Anomalous copper values > 700 ppm in rock chips and broadly co-incident with gold and PGE's were also encountered at Phil's Hill. Anomalous nickel values > 200 ppm and up to 729 ppm copper were also identified in rock chips at Phil's Hill and remains open to the north. Anomalous chrome values > 3000 ppm and up to 7050 ppm with elevated nickel > 1000 ppm and up to 6710 ppm where also identified in rock chips to the north of Phil's Hill, indicative of more mafic- ultramafic source material. Similar levels of extensive PGE anomalism in soils are commonly associated with mineralised nickel sulphide systems elsewhere in WA and support the presence of magmatic nickel sulphides at the Warrior Project. Announcement • May 21
Pursuit Minerals Limited Receives Results for the First 238 Handauger Soil Samples Pursuit Minerals Limited received results for the first 238 handauger soil samples over the Phil's Hill PGE-Ni-Cu Prospect within its wholly owned Warrior Project, located ~20 to 170km north-east of Chalice's high-grade Gonneville PGE-Ni-Cu discovery on the Julimar Project. The Project has direct access to major highway, rail, power and port infrastructure in one of the world's most attractive mining jurisdictions - Western Australia (Figure 5). Phil's Hill is located 40 km north-east of the Julimar Project. Pursuit's sampling has confirmed the presence of anomalous PGE's, Nickel, Copper and Gold associated with mafic-ultramafic rocks which are the host for the PGE-Ni-Cu mineralisation at Julimar. A total of 15 samples assayed demonstrate elevated levels of Au-Pt-Pd combined anomalism with maximum values of 1,164ppb (1.1g/t) (Au 52 ppb, Pt 777 ppb and Pd 335 ppb) with a strike length greater than 1,100m at Phil's Hill and remain open to the north. This level of combined Au-Pt-Pd compare favourably with the soil geochemical anomaly over the Gonneville and Hartog intrusion on Chalice Gold Mines Julimar Project Significant gold anomalism up to 81 ppb was identified at Phil's Hill over a 1,200m strike which remains open to the north. Anomalous copper values > 100 ppm and broadly co-incident with gold and PGE's were also encountered over 950m strike at Phil's Hill. Anomalous Nickel values > 100 ppm and up to 310 ppm over a strike length of 1,100m was identified at Phil's Hill and remains open to the north. Anomalous Chrome values > 400 ppm and up to 571 ppm and over 750m strike at Phil's Hill, indicative of a mafic-ultramafic source material. Regional reconnaissance soil lines were also completed over AEM anomalies at Calingiri East as part of the program. Of the 7 regional lines, 4 lines returned anomalous gold and PGE's. Three of these lines also had co-incident Nickel. Chrome was also anomalous with all the PGE and Nickel response. Chrome anomalous presence indicated the presence of mafic-ultramafic host rocks. These results warrant further investigation and offer the potential to identify further PGE-Ni-Cu mineralisation on the tenement. Next Steps Due to the compelling nature of the PGE-Ni-Cu target at the Phil's Hill Prospect, Pursuit continues to
expedite plans for drill testing. Commencement of drilling is contingent on Government and Aboriginal Cultural Heritage requirements being met. The Company has secured a drilling contractor and is preparing to undertake drilling commencing in July. Announcement • Mar 06
Pursuit Minerals Limited Announces That Warrior Project Exploration Program Acclerating with Ground EM Followup on Highly Prospective EM Conductors Pursuit Minerals Limited announced that warrior project exploration program acclerating with ground EM followup on highly prospective EM conductors. Highlights: Contractors have been secured to commence on 12 March 2021, moving-loop ground EM ("MLEM") surveys to follow-up six highly prospective targets on the Calingiri East Project which were identified from the recently completed airborne EM survey (See Pursuit Minerals ASX Announcement 25 February 2021); The MLEM program is designed to further refine the orientation and position of the six EM anomalies and provide targets for drill testing; Calingiri East now has an estimated 7,000 m of combined strike length of airborne EM anomalies with PGE-Ni-Cu sulphide mineralisation potential; Results from Calingiri West and Wubin Projects require further post processing due to shallow conductive cover. Pursuit will advise the market once this post processing is completed and drill targets identified. The overall Warrior AEM survey comprised survey blocks at the Calingiri East, Calingiri West, Wubin and Wubin South exploration licences resulting in 1,922 line/km of airborne EM data being collected. The airborne EM survey was completed on the 3rd of March 2021. The overall Warrior AEM survey comprised survey blocks at the Calingiri East, Calingiri West, Wubin and Wubin South exploration licences resulting in 1,922 line/km of airborne EM data being collected. The airborne EM survey was completed on the 3rd of March 2021. The "late-time" EM conductors are associated with magnetic anomalies interpreted to be due to mafic or ultramafic intrusive rocks, which are known to host the PGE-Ni-Cu mineralisation at the Gonneville Intrusion on Chalice Mining Limited's Julimar PGE-Ni-Cu Project (see Chalice Mining ASX Announcement 23 March 2020). Following delivery of the final AEM data, ground follow-up programs will be initiated with the objective of commencing drill testing of high priority targets during the second quarter 2021. The western margin of the Archean Yilgarn Craton is highly prospective for Platinum Group Elements ("PGE") and Nickel (Ni) - Copper (Cu) sulphide mineralisation associated with intrusive mafic to ultramafic The PGE-Ni-Cu mineralisation at the Gonneville mafic-ultramafic intrusion was discovered by drilling a discrete electromagnetic moving-loop ("MLEM") anomaly associated with a high amplitude aeromagnetic anomaly. The aeromagnetic anomaly is due to the mafic-ultramafic intrusion which hosts the PGE-Ni-Cu mineralisation (see Chalice Mining ASX Announcement 23 March 2020). The PGE-Ni-Cu mineralisation at Gonneville is strongly conductive and produces a significant anomaly in the EM data. Chalice Mining's success has demonstrated that the exploration approach of identifying prospective mafic-ultramafic intrusions from aeromagnetic data and then generating drill targets from EM surveys is an effective method for targeting PGE-Ni-Cu sulphide mineralisation within the West Yilgarn province. The Warrior project airborne EM survey was designed to locate conductors related to massive sulphide PGE-Ni-Cu mineralisation associated with mafic and ultramafic intrusions. Conductors associated with magnetic anomalies, interpreted to be due to mafic and ultramafic intrusions have now been prioritised for ground follow up on the Calingiri East Exploration Licence. The Warrior project airborne EM survey was designed to locate conductors related to massive sulphide PGE-Ni-Cu mineralisation associated with mafic and ultramafic intrusions. Conductors associated with magnetic anomalies, interpreted to be due to mafic and ultramafic intrusions have now been prioritised for ground follow up on the Calingiri East Exploration Licence. The Warrior AEM survey is now complete with 1,922 line/kms of data flown. Preliminary AEM data has been received for the Calingiri East survey block. Six "late-time" EM anomalies have been recognised in the preliminary data from Calingiri East (Figure One). These EM conductors are associated with aeromagnetic anomalies which are interpreted to be potentially due to mafic and ultramafic intrusions and constitute highly prospective targets. The six target zones cover a combined strike length of ~7,000m. 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 the Company's on ground exploration programs at Calingiri West and Wubin. Ground follow-up of targets identified from the full AEM and aeromagnetic data may entail ground EM surveys and/or soil geochemical surveys. The initial preliminary results from Calingiri East have provided sufficient support to commence the MLEM ground surveys next week (commencing March 12). Announcement • Feb 19
Pursuit Minerals Limited Announces Interpretation of Preliminary Airborne EM Data from the Calingiri East Exploration Licence on the Warrior PGE-Ni-Cu Project Western Australia Pursuit Minerals Limited announced that interpretation of preliminary airborne EM data from the Calingiri East exploration licence on the Warrior PGE-Ni-Cu project Western Australia, has identified 5 highly prospective targets. 5 "late-time" EM conductors, for a combined strike length 5,000m, have been recognised in preliminary AEM data. "Late time" refers to a stronger conductor. The AEM conductors are associated with magnetic anomalies which are interpreted to be due to mafic or ultramafic intrusive rocks, which are known to host the PGE-Ni-Cu sulphide mineralisation at the Gonneville intrusion on Chalice Mining Limited's Julimar PGE-Ni-Cu Project. Pursuit considers the 5 AEM /magnetic anomalies to be high priority PGE-Ni-Cu targets. As a result of the recognition of the 5 targets at Calingiri East, Pursuit is extending the Calingiri East survey block and will fly an additional 207 line/km of AEM data. Warrior PGE-Ni-Cu Project Airborne EM Survey: The western margin of the Archean Yilgarn Craton is highly prospective for Platinum Group Elements ("PGE") and Nickel (Ni) Copper (Cu) sulphide mineralisation associated with intrusive mafic to ultramafic rocks. The discovery of PGE-Ni-Cu mineralisation on the Julimar Project held by Chalice Mining Limited is the first significant PGE-Ni-Cu discovery in the region. These 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. Preliminary AEM data has been received for the Calingiri East survey block. 5 "late-time" EM anomalies have been recognised in the preliminary data from Calingiri East. The EM conductors are associated with aeromagnetic anomalies which are interpreted to be potentially due to mafic and ultramafic intrusions and constitute highly prospective targets. The 5 target zones cover a combined strike length of 5,000m. Announcement • Feb 11
Pursuit Minerals Limited Announces Airborne EM Survey to Commence on Warrior PGE-Ni-Cu Project Pursuit Minerals Limited announced the commencement of Stage 1 of a new Airborne Electromagnetic (AEM) survey covering 1,715kms over the Calingiri East, Calingiri West, Wubin and Wubin South exploration licences on the Warrior PGE-Nickel-Copper Project, located approximately 20-170km north and northeast of Chalice Mining's Gonneville PGE-Nickel-Copper discovery on the Julimar Project. The AEM survey will commence flying next week and complete in early March. The objective of the AEM survey is to locate conductors due to massive sulphide PGE-Ni-Cu mineralisation associated with mafic and ultramafic intrusions. These rock types host the PGE-Ni-Cu mineralisation at Chalice Mining's Gonneville PGE-Ni-Cu deposit on their Julimar Project. Conductors associated with interpreted mafic and ultramafic intrusions will be prioritised for ground follow up and then drill testing. Subject to concluding land access agreements, Pursuit is planning to undertake drill testing of priority targets during the second/third quarter 2021. Airborne electromagnet surveys in this area have been very successfully used, not only by Chalice Mining, but also by Caspin Resources Ltd. ("Caspin") and Devex Resources Ltd. ("Devex") in identifying new targets for follow-up drilling. Caspin's tenements sit adjacent to and immediately north of Pursuits Calingiri West tenement. They recently announced multiple, high quality anomalies as a result of their AEM and Devex recently announced they will be drilling their Sovereign Prospect which extends into the Company's Calingiri West tenement. Announcement • Dec 15
Pursuit Minerals Limited Enhances Warrior Project with Wubin South Application Pursuit Minerals Ltd. announced that the Company has applied for a new exploration licence, E70/5678 'Wubin South', located immediately south, and adjacent to, Pursuit's 100% owned exploration licence E70/5493 "Wubin". Wubin South is prospective for gold and Platinum Group Element-Nickel-Copper mineralisation. When granted, the Company's landholding of the Warrior PGE-Ni-Cu Project will increase to 648km. The Wubin South application was applied for as part of the Company's ongoing project generation program which utilises open-file geophysical and geological data to identify areas prospective for PGE-Ni-Cu and gold mineralisation within the highly prospective Western Yilgarn Province. The area of the Wubin South application is approximately 55km. Little historical exploration data exists within Wubin South. Regional gravity and aeromagnetic data at Wubin suggests that: mafic or ultramafic intrusions (potential hosts for PGE-Ni-Cu mineralisation) may occur; and that remnants of greenstone belts prospective for orogenic gold mineralisation may exist. Pursuit will use the existing regional gravity and aeromagnetic data to target areas for more detailed assessment prior to commencing exploration in 2021 for both PGE-Ni-Cu and Au. The tenement is principally located over farming country with easy access from sealed highways and regional roads. Planning for Airborne EM Surveys on the Wubin and Calingiri East Exploration Licences Since acquiring the Warrior PGE-Ni-Cu Project as announced on 2 December 2020, Pursuit has moved quickly to define specific areas prospective for PGE-Ni-Cu mineralisation, of the type which occurs at Chalice Mining Limited's Gonneville PGE-Ni-Cu prospect . The PGE-Ni-Cu mineralisation at Gonneville is associated with mafic and ultramafic intrusions, which can be recognised in regional aeromagnetic data. The Gonneville PGE-Ni-Cu mineralisation is conductive and can be located using airborne electromagnetic data. Utilising the regional aeromagnetic data, the Company has identified aeromagnetic anomalies prospective for PGE-Ni-Cu mineralisation over Wubin and Calingiri East prospect areas. Pursuit will fly airborne electromagnetic surveys as soon as possible in early 2021 in order to generate drill targets. Announcement • Dec 03
Pursuit Minerals Ltd Announces Update on Yilgarn Warrior PGE-Ni-Cu Project Pursuit Minerals Ltd. advised that Exploration Licences for Calingiri East (E70/5379) and Bindi Bindi (E70/5392) have been granted effective 2 December 2020. The company is now working to finalise Heritage Agreements, securing Ministerial consent and moving ahead with the transfer of the tenements for Calingiri East (E70/5379), Bindi Bindi (E70/5392) and Wubin (E70/5493). Further to the announcement dated 2 December 2020 the company will commence fieldwork on the Warrior Project during the January-March quarter 2021. This work will consist of prospect scale geological mapping, rock chip and soil geochemistry, along with planning for electromagnetic surveys, to be followed by an initial drill program. Preparatory work on the project has commenced and it has focussed on the interpretation of aeromagnetic data covering the four tenements in order to identify magnetic anomalies which are potentially due to mafic and ultramafic intrusions. The company plans to expediate the granting of the one remaining tenement application and is progressing discussions with various landowners, native title groups and government agencies. Announcement • Dec 02
Pursuit Minerals Limited (ASX:PUR) entered into an agreement to acquire Yilgarn Warrior PGE-Ni-Cu Project for AUD 1.05 million. Pursuit Minerals Limited (ASX:PUR) entered into an agreement to acquire Yilgarn Warrior PGE-Ni-Cu Project for AUD 1.05 million on December 2, 2020. As per terms of transaction, Pursuit has paid $0.1 million in cash to the vendor, with the balance of $0.2 million in cash and 40 million fully paid ordinary shares payable following the transfer of 2 granted exploration licences (Wubin, plus either Bindi Bindi or Calingrini East). Following transfer of all four tenements, an additional 10 million shares will be issued to the vendor. All shares issued to the vendor as part of the acquisition will be escrowed voluntarily for 3 months from their date of issue. Pursuit Minerals Limited will acquire one granted Exploration Licence and three Exploration Licence Applications, comprising the Warrior Project, located approximately 20-170km north and northeast of Chalice Gold Mines’ Gonneville PGE-Nickel-Copper discovery on the Julimar Project.
Completion under the acquisition agreement remains subject to at least one more tenement being granted and the Minister responsible for the Mining Act 1978 (WA) (“Mining Act”) consenting to the transfer of at least two of the tenements from the vendor to Pursuit in accordance with Section 64 of the Mining Act. Announcement • Oct 15
Pursuit Minerals Limited announced that it expects to receive AUD 0.596 million in funding Pursuit Minerals Limited (ASX:PUR) announced a private placement of 66,222,222 shares at a price of AUD 0.009 per share for gross proceeds of AUD 596,000 on October 14, 2020. The transaction is expected to close on October 20, 2020. Announcement • Jul 18
Pursuit Minerals Limited announced that it expects to receive AUD 0.6 million in funding Pursuit Minerals Limited (ASX:PUR) announced a private placement of 120,000,000 common shares at a price of AUD 0.005 per share for gross proceeds of AUD 600,000 on July 17, 2020. The transaction will include participation from Messrs Peter Wall, Mark Freeman and Matt O’Kane, all being directors of the company, for AUD 45,000. The transaction will occur in two tranches, with 65,240,000 shares being issued upfront and 54,760,000 shares being issued subject to receipt of shareholder approval at a general meeting. The first tranche is expected to occur on or around July 24, 2020 and the second tranche which is subject to shareholder approval will occur on or around August 27, 2020. 