Pursuit Minerals ventures into vanadium with project acquisitions in Finland and Sweden

Date: Apr 13, 2018

Pursuit Minerals ASX PUR Vanadium Finland Sweden

The company has obtained mineral reservations for the Koitelainen and Karhujupukka vanadium projects in Finland’s north. And, over in central Sweden, exploration licence applications have been lodged for Sumassjon, Kramsta, Simesvallen-Svedasen, Kullberget-Storasen. An application has also been submitted for the Airijoki project in the country’s north.

Pursuit anticipates the granting process will take up to three months.

Combined, the projects encompass 735 square kilometres throughout both countries, with each at various exploration stages.

“With the localisation of the energy grid, due to increasing renewable energy production, and global transport fleets moving to electric vehicles, the world is requiring more vanadium due to its use in vanadium redox batteries,” Pursuit managing director Jeremy Read noted.

He added vanadium batteries would also have an “increasingly important” role in energy storage as the European countries begin to phase out internal combustion engine vehicles by 2040.

Finland vanadium projects

The Koitelainen project contains historic mineral estimates for two deposits including 70 million tonnes grading 0.4% vanadium, 14.4% chromium and 1.1 grams per tonne platinum group elements for Koitelainen UC, while Koitelainen V has an estimate of 15mt grading 0.2% vanadium.

Karhujupukka also has a historic estimate that comprises 5.2mt grading 0.24% vanadium, 32% iron, 6.2% titanium and 0.02% cobalt.

Pursuit plans to compile all the historic exploration data on both projects to generate targets for follow up work.

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