Pursuit Acquire Argentine Brine

21 March 2023 16:55

Things are heating up for Pursuit Minerals, with the Company now exhibiting at Paydirt Media’s Battery Minerals Conference in Perth.

COO Aaron Revelle will be presenting on the Company’s recently acquired Rio Grande Sur Lithium Brine Project in Argentina, which the Company has just announced it will be finalising the acquisition of in the coming weeks.

The Rio Grande Salar has been the site of high-quality exploration from 2010-2018 including some diamond drilling and a number of CSAMT geophysical surveys which identified lithium-enriched brine to a depth of 500m, giving the previous Canadian-based explorer 2.19Mt LCE @ 374 mg/Li inferred resource in accordance with Canadian National Instrument 43-101.

Even without the acquisition fully completed, the Company is already preparing a battery of TEM / CSAMT surveys in order to gain a better image of the Projects underlying lithologies associated with lithium-bearing aquifers and to determine targets for an extensive drilling campaign which the Company hopes to kick off in the middle of this year.

Argentina is quickly establishing itself as a powerhouse when it comes to lithium brine, with it also being home to the Argosy Minerals Rincon project, which has a Preliminary Economic Assessment detailing that it could produce 10,000-tonne pa operation over a 16.5-year mine lifetime.

A lot of interest in brine can be attributed to the fact that the demand for lithium production is expected to increase twenty-fold by 2050, and brines are increasingly seen as essential to meeting this challenge.

And Investors have been taking notice, with Pursuits Argentina neighbour C29 Metals seeing its share price jump 90% following the acquisition of its Argentinian lithium brine projects late last year.

The Battery Metals Conference, hosted by Australian mining-media powerhouse Paydirt, has now entered its fifth year and established itself as the top-notch platform for battery metals companies listed in Australia. The event attracts a distinguished roster of established industry leaders and promising newcomers who are actively contributing to the fast-evolving market.

COO Aaron Revelle will be presenting on the 22nd of March at 12 pm, with guests able to find Pursuit at booth 25 at the event.

PUR’s Australian Stock Exchange-listed share price is currently trading at 2c (3:09 pm UTC+ 8 hours).


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