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Pursuit’s TEM Survey Unveils Lithium Brine Prospects at Rio Grande Sur

23 August 2023 10:48
ASX: PUR

Pursuit Minerals Ltd (ASX: PUR) has unveiled the results of its Transient Electromagnetic (TEM) Geophysical survey at the Rio Grande Sur Project in Salta, Argentina, revealing significant findings identifying multiple zones highly prospective for lithium-enriched brines.

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Figure 1: TEM Survey Results in 1D resistivity volume distributions.

Unveiling Promising Prospects

As the Company prepares for its inaugural drilling campaign to define a maiden JORC resource, the survey highlights layers of interest with low resistivity (high conductivity) within the range of 150m to 300m, surpassing the previously established Canadian National Instrument 43-101 (NI43-101) 100m limit. Moreover, indications of deeper conductive layers beyond 250m suggest promising paths for future exploration and lithium brine expansion.

The Rio Grande Salar already holds an Inferred Resource of 2.1 million tonnes LCE, averaging 370mg/Li in the top 100m, as reported in a 2018 NI43-101 by LSC Lithium. Yet, the recent TEM survey reveals potential depths of up to 500m for lithium-enriched resources. Pursuit’s Rio Grande Sur Project covers about 9,233 hectares across five tenements, with a portion overlapping the existing lithium resource, enhancing the Project’s significance.

Results and Prospective Areas

The TEM data unveiled several promising areas within the Rio Grande Sur Project’s tenements:

Sal Rio I and Sal Rio II: The TEM data indicated the presence of thick conductive layers at the margins of the salar. Despite uncertainties in interpreting specific lithologies near the margins, the presence of these highly conductive layers has been prioritised for future exploration.

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Figure 2: 3D visualisation of processed TEM data for Sal Rio I

Maria Magdalena and Isabel Segunda: These tenements, located in the central area of the salar, exhibited TEM profiles consistent with a typical “Salar Core” halite-dominated profile. The presence of fractured halite and sandy halite layers suggests high potential for lithium-enriched brines, with drilling data from adjacent sites further corroborating the prospects of these areas.

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Figure 3: 3D visualisation of processed TEM data for Sal Rio II

TEM Survey and Methodology

The TEM survey was conducted by Pursuit’s project partner Quantec, using a Transient Electromagnetic (TEM) field procedure which involved the measurement of TEM profiles across the Rio Grande Sur Project’s tenements. These profiles were collected through a moving-loop method, wherein a receiver coil was positioned at the centre of a square transmission loop of 200m x 200m. Four readings were averaged from each station to improve measurement accuracy with a total of 150 soundings collected across 24 profiles within the tenements.

The collected data underwent processing using various software tools to establish an inversion model (1D model) for estimating layer depth, thickness, and resistivity, with these models helping to identify the low resistivity (high conductivity) layers indicative of potential lithium brine presence.

Forward Works Plan

Pursuit Minerals’ forward works plan entails a Stage 1 Drilling Program, targeting exploration drill holes for each of the four tenements – Sal Rio I, Sal Rio II, Maria Magdalena, and Isabel Segunda.

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Figure 4: TEM Survey Locations

The successful completion of this initial exploration drilling will pave the way for the drilling, construction, and testing of a pumping well. The pumping well’s success will be a critical factor in confirming the feasibility of brine extraction to support the development of a Mineral Resource Estimation for the Project.

Aaron Revelle, Managing Director & CEO of Pursuit, commented that the survey results are in line with expectations and highlight the Project’s potential to host a substantial lithium brine resource.

“The results of the TEM survey have continued in line with expectations that the Rio Grande Sur Project has potential to host a significant resource of Lithium brine. Pursuit is now focused on our maiden drilling campaign to define this resource as we await the environmental permits. The TEM data has outlined multiple 100m thick low resistivity (high conductivity) layers from approximately 150m to 300m depth underlying various tenements. These layers are below the current Canadian National Instrument 43-101 (NI43-101) Inferred Resource drilling which extended to 100m. The data additionally suggests that the material deeper than 250m is conductive and will also be considered prospective for future lithium brine exploration.”

PUR’s Australian Stock Exchange-listed share price is currently trading at 1.2c (10.45am UTC+ 8 hours).

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