Pursuit Minerals Limited (ASX: PUR) has hit a high-grade zinc-lead intersection at its Paperbark Project in north-west Queensland.
The company said drill hole PB01-17 intersected 68m of zinc-lead mineralisation within the main JB Zone Mineral Resource.
Within the JB Zone Mineral Resource higher grade intervals occur including; 13m @ 3.57% Zn+Pb, 3.0m @ 5.40% Zn+Pb and 10m @ 1.99% Zn+Pb. In addition to the known JB Zone mineralisation, a high-grade interval of 1m @ 16.64% Pb+Zn, occurs 19m stratigraphically above the JB Zone mineralisation.
Pursuit Minerals Managing Director Jeremy Read said the thickness and grade of zinc-lead mineralisation intersected in hole PB01-17 was very much in line with expectations and the previous drilling completed at the JB Zone, but the high-grade interval of 16.64% Zn+Pb, will require further study to determine its size potential.
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“The mineralisation at the JB Zone is of substantial thickness and within the overall mineralised package there are higher grade intervals which are able to be correlated from section to section within the Mineral Resource,” Mr Read said.
The information we have obtained from drill hole PB01-17 will assist in our overall evaluation of the economic potential of the JB Zone Mineral Resource.
“In particular it has provided fresh mineralisation which we have sent off for Dense Media Separation testing to determine if, through the use of DMS, the JB Zone can deliver an economic standalone project.”
The Paperbark Project is located approximately 215km north-northwest of Mount Isa and 25km south-east of the Century Mine in north-west Queensland. It occurs within the Lawn Hill Platform of the Western Succession of the Mt. Isa Province. The project consists of two exploration permits (EPM’s 14309, 25191), covering an area of approximately @ 2