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Pursuit Commence Second Stage Rio Grande Sur Lithium Survey

27 July 2023 11:19
ASX: PUR

ursuit Minerals (ASX: PUR) are maintaining the momentum at its Rio Grande Sur lithium brine project, having entered the Argentinian Project’s second exploration phase with an extensive Controlled Source Audio-Magneto-Telluric (CSAMT) Survey.

Surveying Prime Brine

The survey will target the Project’s largest tenement Mito, which comprises a massive 8,600 hectares of the Project’s total 9,233 hectares and will aim to give Pursuit insight into the tenements underground geology and hydrology with a particular focus within the 500-metre range.

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Figure 1: Location of the CSAMT Survey

Pursuit expects the survey to identify lithologies associated with aquifers containing lithium in brine alongside other geological structures present within the tenement down to a depth of 500m, following up on a recently completed Transient Electromagnetic Survey indicating the presence of lithium-bearing brines at depths of 250-300ms.

The Company noted that while it initially secured the Mito tenement due to its infrastructural significance, the delivery of lithium grades up to 950mg/Li from drilling approximately 2km to the tenements east has given Pursuit confidence that the tenement hosts a significant exploration upside.

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Figure 2: Map of Mito tenement with proximity to Rio Grande Salar and recent drilling location

Results of the CSAMT survey are anticipated next month, marking a significant stride in Pursuit’s objective of initiating drilling on this promising tenement by year-end, with the Company having already received the greenlight from local authorities for this initial campaign.

Looking Ahead

Following completion of the survey, resultant data will be combined with results from the recent TEM survey and analysed by SRK Exploration Australia to confirm optimal drilling locations, with SRK planning to visit the site by the end of the month to meet with drilling contractors and provide valuable ground insight for drill planning.

The Company said that with the survey data and results from this onsite field visit, SRK would be primed to identify the most effective and precise positioning of drilling locations to ensure the successful execution of the drilling campaign.

“The CSAMT Survey marks the second stage of the planned geophysical workstream of our comprehensive and aggressive development campaign to achieve a maiden JORC resource following drilling at the RGS Project,” Managing Director and Chief Executive Aaron Revelle said.

“The survey target area has never been subject to any significant historical exploration programs. Whilst Mito was initially secured for infrastructure purposes, the CSAMT survey could be the first step in unlocking significant exploration/resource upside.”

PUR’s Australian Stock Exchange-listed share price has risen 7.14 per cent today and is currently trading at 1.5c (11:05 am UTC+ 8 hours).

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