More drilling success for Pursuit

• Significant mineralisation intersected in new hole
• Results identify promising new target
• Follow-up drilling to be a real focus

Pursuit Minerals Limited (ASX: PUR) has identified an exciting new drilling target after obtaining further drilling success at its Bluebush Zinc Project in northwest Queensland.

The company said that the fourth hole of the current drilling program at Bluebush intersected a strongly to variably mineralised fault zone containing abundant sphalerite (zinc sulphide) and galena (lead sulphide) mineralisation. Pursiut said sphalerite and galena mineralisation, occurs between 188.3m to 223.4m downhole vertical depth, within a strongly brecciated fault zone.

Pursuit Minerals Managing Director Jeremy Read said that the intersection of the zinc and lead sulphide mineralisation over a downhole width of 35.1m, was an extremely positive development for the Bluebush Project.

“The zinc and lead mineralisation we have intersected in hole BB04-17 is strong to variable in its nature and we were so encouraged by the zone of mineralisation that we immediately dispatched 104 samples to the laboratory,” Mr Read said.

“This brecciated fault zone mineralisation is very different to the fine-grained sulphides intersected in holes BB01-17 and B03-17 and our interpretation is that the mineralisation in hole BB04-17 represents remobilised mineralisation from a sedimentary hosted zinc-lead body. However, the thickness of the mineralisation indicates that the brecciated fault zone is now a target in its own right.

“We will need to undertake follow up drilling to determine the extent of the fault controlled mineralisation and its ultimate source, which will give us a real focus for our ongoing exploration program at Bluebush.”

The Bluebush Project is one of two key projects Pursuit recently purchased from Teck Australia Pty Ltd.

Mr Read said the current drilling program is targeting the discovery of a focal point to the larger Bluebush zinc mineralisation system, which will allow follow up drilling to be conducted in 2018 with the ultimate goal of defining a mineral resource.

The Bluebush Project is located approximately 280km north‐northwest of Mount Isa and 72km northeast of the Century Mine in northwest Queensland.

The project consists of two exploration permits (EPM’s 8454, 8937), covering an area of approximately 214km2. Previous drilling has intersected zinc mineralisation over an area of 120km2 making Bluebush one of the largest areas of zinc mineralisation in Australia.

The objective of the current drilling program across five drill holes, is to attempt to locate the focal point of the zinc system, where the grades and thicknesses of zinc mineralisation have the highest probability of being economic. If such a focal point to the zinc system is able to be located, then follow up drilling will be conducted in 2018 with the ultimate objective of defining a Mineral Resource.