Pursuit Minerals

Significant High-Grade Lithium Achieved at Drill Hole 1 at Rio Grande Sur

Pursuit Minerals Ltd (ASX: PUR) (“PUR”, “Pursuit” or the “Company”) is pleased to provide the following update on its maiden Stage 1 Drilling Program with the first results and assay samples from drill hole 1 (“DDH- 1”) on the Maria Magdelena tenement.


HIGHLIGHTS

  • Drillhole 1 (DDH-1) at the Maria Magdelena tenement of the Rio Grande Sur Project, has hit significant high grade intercepts of lithium brine at shallow depths of ~131m.
  • Additional lithium bearing brines continue to be intercepted below 130m to current depth of 500m, with assays pending and results expected over the coming weeks.
  • Initial high-grade assays include the following intervals:
    • 408mg/L (“milligrams per liter of Lithium”) from an interval of 17.75m to 25.80m
    • 412mg/L from an interval of 38.85m to 48.30m
    • 424mg/L from an interval of 56.40m to 64.50m
    • 620mg/L from an interval of 115.50m to 117.50m
    • 607mg/L from an interval of 129m to 131m
  • Significantly grades of over 600mg/Li are the highest achieved at this shallow depth.
  • The hole is currently drilling below 500m, targeting near 600m of depth for completion before the drill rig and crew relocates to Sal Rio II to commence Drillhole 2 (DDH-2).
  • The Stage 1 Drill Program is targeting resource growth to the existing inferred JORC resource of 251.3kt LCE @ 351mg/L1.

In relation to the progress of DDH-1 at the RGS Project, Pursuit Managing Director & CEO, Aaron Revelle, said:

“The initial results from DDH-1 are particularly sensational as we progress our initial exploration phase of the Rio Grande Sur Project. With these initial intercepts we are continuing the significant advancements we have made in our understanding of the RGS Project mineralisation, with the results commencing to demonstrate the potential significant scale of the project. With outstanding high grade brine intercepts at depths of 100-130m and continuing to 500m with grades above 600mg/L at shallow depths, the project is exceeding our expectations.

“We continue to progress with permitting for the drilling program in the north of the Rio Grande Sur Project, which we intend to include in our Stage 1 program works as we target a significant mineral resource upgrade. This is in addition to works at our Lithium Carbonate Pilot Plant which remains on track to produce our first Lithium Carbonate in the coming months, with Pursuit having already received multiple requests for product samples from potential off- take partners.”

High-Grade, Shallow Depth Lithium Brine Assay Results

DDH-1 of the Stage 1 drilling program commenced on site at the Rio Grande Sur Project in March 2024; and is nearing completion with the hole currently at a depth of 500m, with a target final depth of ~600m expected to be reached and assayed over the coming weeks.

Throughout the first several hundred metres, the on-site geologists and drilling team have been extremely encouraged by the geological units encountered. Of particular interest, at approximately 100-130m a highly porous sandy unit was encountered with Lithium brine grades substantially above expectation, based on historical drilling results. This zone has been earmarked as the potential location of a pumping well due to its heightened porosity and grade.

Figure 1 – Drilling crew onsite drilling DDH-1

Intercepts from DDH-1 have shown highly favourable geology in line with, and exceeding expectations from historical drilling (to depths of 50m) carried out on the Rio Grande Salar. Lithium brine samples for assay continue to be captured up to the current depth of 500 metres with further potential for high grade results. Highly porous sandy units continue to be encountered below 400m where the team is currently finalising DDH- 1 at a planned depth of 600m.


Click here for the full ASX Release

This article includes content from Pursuit Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

PUR:AU
The Conversation (0)
Salt flats with text overlay: '5 Top Australian Mining Stocks This Week'

Top 5 Australian Mining Stocks This Week: Argosy Climbs 89 Percent on Rincon Lithium Spot Contract

Welcome to the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.

This week's top performing stocks includes firms focused on a wide variety of metals, including lithium, rutile and manganese. Lithium stocks, including top gainer Argosy Minerals (ASX:AGY), picked up momentum this week as prices moved upwards for a second straight week.

Companies focused on magnetite and rare earths were also among the week's top performers, including Freehill Mining (ASX:FHS), which saw its shares surge following insider buying from key executives including Chairman Benjamin Jarvis.

Keep reading...Show less
Metallic battery with a world map etched on it, against a dark background.

3 Key Themes from Fastmarkets' 2025 Lithium Supply & Battery Raw Materials Event

Market volatility, Chinese control, supply chain risk mitigation and financing emerged as some of the most prevalent themes at the 2025 Fastmarket’s Lithium Supply Battery Raw Materials (LBRM) conference in Las Vegas.

The event, which is in its 17th year, drew a crowd of roughly 1000 delegates, industry experts and analysts, to discuss the current landscape and future projections of the battery materials sector.

During his opening remarks, Fastmarkets CEO Raju Daswani highlighted the growth and maturation the battery raw materials sector has experienced.

Keep reading...Show less
Metals Australia (ASX:MLS)

Metals Australia


Keep reading...Show less
Futuristic skyline with electric car chargers and glowing cityscape at sunset.

Expert: African Lithium Key to China's Battery Supply Chain Dominance

With the global shift to electric vehicles (EVs) accelerating, China is cementing its dominance over the lithium supply chain by pouring investment into African mines, creating a new center of gravity for the battery metal.

Speaking at the Lithium Supply Battery Raw Materials conference, Claudia Cook senior analyst at Fastmarkets offered a sweeping assessment of how China is reshaping global lithium flows and why Africa will be crucial in the next decade.

Cook laid out in detail how China’s lithium strategy is evolving. As the world’s largest EV market, China needs a consistent, low-cost supply of lithium — but its domestic production is increasingly insufficient.

Keep reading...Show less
Electric vehicle charging with blue background.

Market Pain, Strategic Gain: Pilbara Minerals' Dale Henderson on Today's Lithium Paradox

“(Lithium) is not for the faint-hearted. It demands resilience, foresight and leadership,” said Pilbara Minerals (ASX:PLS,OTC Pink:PILBF) Managing Director and CEO Dale Henderson.

He was speaking at Fastmarkets’ Lithium Supply & Battery Raw Materials Conference, held this week in Las Vegas.

Henderson touched on three main points: current lithium market dynamics, how Pilbara Minerals is navigating the lithium landscape and his recommendations for the global lithium industry.

Keep reading...Show less

Latest Press Releases

Related News

×