They still have a a little over 2.8 million with around $ 621 000 expected outflows projected next quarter .
Still well funded and is all about the news to be released , some of which will be soon .
The programmes were subject to routine surveys by traditional owners and their consultants. Clearances for the first campaign on E09/2217 and a portion of the second campaign (for E09/2217) were received in November, prior to commencement of first phase drilling. Consultants to the traditional owners expect to complete reports and clearances for the second phase of drilling early in the new year.
First Campaign - E09/2217
Pure Minerals opted to expand the campaign upon recognising that areas slated for testing in the second phase of drilling could be accessed without requiring track construction. In addition, new drill targets were identified in the field that warranted immediate testing.
More than 1,500 samples, comprising 413 composite samples and 1,125 one-metre split samples, were submitted to ALS Global laboratory in Wangara, Western Australia, for assay testwork. First test results are expected this month. At 31 December 2017, all results had been provided by ALS and Pure Minerals was reviewing and checking the data.
Pure Minerals announced results from a soil sampling survey and rock chip sampling program over the northern portion of its 59 km2 Morrissey Hill project to identify its prospectivity for lithium-tantalum mineralization (PM1 News Release Large-Lithium-Tantalum soil anomalies defined at Morrissey Hill Project). The area is known for multiple pegmatite intrusions and fractionated granites which have the potential to host lithium mineralisation.
Morrissey Hill is located approximately 10km west of Arrow Resources’ (former Segue Resources) recent Malinda (formerly Reid Well) lithium discovery. At Melinda, an east-west trend of lithium and tantalum-bearing pegmatites has been identified Pure Minerals intends to infill sample the areas showing the strongest lithium and tantalum anomalies in the soil sampling program with the intention of enhancing the definition of the anomaly for improved drill targeting. In December 2017, Pure Minerals surveyed and mapped the area and identified additional areas for infill sampling.
PM1 Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
