{"id":10239,"date":"2024-05-29T00:51:41","date_gmt":"2024-05-29T00:51:41","guid":{"rendered":"https:\/\/economicherald.net\/?p=10239"},"modified":"2024-05-29T00:51:41","modified_gmt":"2024-05-29T00:51:41","slug":"impressive-lithium-grades-at-shallow-depth-mark-great-start-for-pursuit-minerals-rio-grande-resource-expansion","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=10239","title":{"rendered":"Impressive lithium grades at shallow depth mark great start for Pursuit Minerals\u2019 Rio Grande resource expansion"},"content":{"rendered":"

First diamond hole at Pursuit Minerals\u2019 Rio Grande Sur project shows up to 620mg\/l Li as part of resource expansion drilling
\nResults from six diamond holes as part of Stage 1 will go towards a resource upgrade
\nTwo additional holes to be drilled at the Mito tenement in the north<\/p>\n

\u00a0<\/p>\n

Special Report<\/em>: High grades of lithium brine have already been intersected at Pursuit Minerals\u2019 Rio Grande Sur project in Argentina from just the first diamond hole as part of Stage 1 resource expansion, showing up to 620mg\/l lithium (Li).<\/strong><\/p>\n

Pursuit Minerals (ASX:PUR)<\/strong><\/a> is developing its Rio Grande Sur project in the Salta province, part of South America\u2019s Lithium Triangle \u2013 the world\u2019s largest source of lithium from salt flats.<\/p>\n

It\u2019s in prime real estate next to established operations and developments such as Arcadium Lithium\u2019s (ASX:LTM)<\/strong><\/a> El Fenix and Sal de Vida, POSCO\u2019s Sal de Oro and Ganfeng\u2019s Mariana projects, among others.<\/p>\n

PUR is targeting a resource upgrade this quarter to build on an inferred resource which currently sits at 251,300t lithium carbonate equivalent (LCE).<\/p>\n

\u00a0<\/p>\n

Pursuit\u2019s Rio Grande and surrounding projects in Argentina\u2019s slice of the Lithium Triangle. Pic supplied: (PUR)<\/p>\n

\u00a0<\/em><\/p>\n

High grades at shallow depths<\/h2>\n

The first diamond hole of the six-hole Stage 1 drill program nearing completion, currently at a depth of 500m towards a depth target of ~600m which is expected to be reached and assayed over the coming weeks.<\/p>\n

Throughout the first several hundred metres, the on-site geologists and drilling team have been extremely encouraged by the geological units encountered.<\/p>\n

Of particular interest, Pursuit says, at ~100-130m mark a highly porous sandy unit was encountered with Lithium brine grade substantially above historical drilling results.<\/p>\n

The company has marked the zone as a potential location for a pumping well due to its heightened porosity and grade.<\/p>\n

Notable intercepts from the first 150m of DDH-1 include:<\/p>\n

408mg\/L from an interval of 17.75m to 25.80m
\n424mg\/L from an interval of 56.40m to 64.50m
\n620mg\/L from an interval of 115.50 to 117.50m
\n607mg\/L from an interval of 129m to 131m<\/p>\n

To put this in perspective, the US Geological Survey says economic brines tend to measure between 200 to a whopping 4000mg\/L, \u2013 yet most significant deposits that are in operation have an economical measure of between 400-600mg\/L or above.<\/p>\n

The rig will move to diamond hole two on the Sal Rio II tenement next and drill down similar depths of 500-600m \u2013 significantly deeper depths than the existing defined JORC resource.<\/p>\n

\u00a0<\/p>\n

Diamond drill locations as part of a resource upgrade program. Pic supplied: (PUR)<\/p>\n

\u00a0<\/p>\n

In addition to diamond holes 2-4, the company is intending to amend its proposed drilling program by delaying a pumping well and incorporating 2 additional drill holes at the Mito tenement in the north of the Rio Grande Salar \u2013 DDH-5 and DDH-6.<\/p>\n

The proposed pumping well will be incorporated into the proposed Stage 2 program.<\/p>\n

\u201cThe initial results from DDH-1 are particularly sensational as we progress our initial exploration phase of Rio Grande Sur,\u201d PUR MD Aaron Revelle says.<\/p>\n

\u201cWith 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.<\/p>\n

\u201cWith outstanding high-grade brine intercepts at depths of 100-130m and continuing to 500m with grades above 600mg\/Li at shallow depths, the project is exceeding our expectations.<\/p>\n

\u201cWe 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.<\/p>\n

\u201cThis is in addition to work at our lithium carbonate pilot plant, which remains on track to start production in the coming months.<\/p>\n

\u201cWe\u2019ve already received multiple requests for product samples from potential off-take partners.\u201d<\/p>\n

\u00a0<\/p>\n\n

\ufeff<\/span>\u00a0<\/p>\n

This article was developed in collaboration with Pursuit Minerals, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n

\u00a0<\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

<\/span><\/p>\n

The post Impressive lithium grades at shallow depth mark great start for Pursuit Minerals\u2019 Rio Grande resource expansion<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

First diamond hole at Pursuit Minerals\u2019 Rio Grande Sur project shows up to 620mg\/l Li as part of resource expansion drilling Results from six diamond [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":10240,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-10239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nImpressive lithium grades at shallow depth mark great start for Pursuit Minerals\u2019 Rio Grande resource expansion - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=10239\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Impressive lithium grades at shallow depth mark great start for Pursuit Minerals\u2019 Rio Grande resource expansion - 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