Some words:
PM1 is a Manganese explorer ready to spin the drill bit into a very large number of potential targets over approximately 30km of strike length at it's 100% owned Battery Hub project, with a whopping $3.8M in the kitty to spend.
A huge database of more than 500 drill holes and recent surface sampling has helped to define some high priority targets which the company is planning to drill 50 holes for more than 2000m as soon as PoW is granted which is expected this month, with the ultimate goal of JORCing up a deposit.
HIGH grade Mn rock chip samples have been returned with some grades of 25% and 47% Mn. Just look at that beautiful pic below of outcropping Mn at it's Pools prospect, which has received very little historical attention. THIS IS DSO GRADE STUFF, notwithstanding other factors of course. There are over 40 Mn prospects in this one tenement and they are expecting a 2nd adjoining tenement to be granted this month, providing more highly prospective Mn targets. So there is definitely scale to be something large. And check out the grades of historical rock chips in the image below.
A Comparison
The similarities to EPM are numerous. Both have high DSO potential Mn mineralisation up to 40%Mn across a very large number of targets. Both about to put the drill bit into the dirt before the end of the year. And yet look at the difference in MCs and EVs. PM1 has $$3.8M in the Kitty. The SP of PM1 would need to get to about .048 before the EVs are equalised.
EPM has recently has recently bagged just in anticipation of the drilling campaign expected to commence before the end of the year after a long wait for EPM holders. I am expecting a similar run up for PM1 as we are also expecting our drilling to commence prior to years end.
In closing
This thing is safely funded through a bunch of drilling campaigns and yet here it is at shell value. Below bloody shell value! Where's the downside?
Oh, and did I mention that they are also prepping to explore for lithium at their Morrissey Hill project which has returned rock chip samples up to 1.32%Li20 and located less than 10km from SEG's Malinda project.
Manganese price reversing it’s down trend and expected to continue. Manganese will have it's day in the sun and Pure Mineral's potential DSO project is an incredible entry for anyone at an EV of just $1.3M. Once that drill bit hits the dirt you will be paying quite a bit more for a piece of this Co. Bugger all shares on issue. When the market clicks to the potential here this will run hard.
Cheers,
Nebu
Some images
PM1 Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
