{"id":11308,"date":"2024-06-25T01:43:03","date_gmt":"2024-06-25T01:43:03","guid":{"rendered":"https:\/\/economicherald.net\/?p=11308"},"modified":"2024-06-25T01:43:03","modified_gmt":"2024-06-25T01:43:03","slug":"pursuit-scores-with-deep-lithium-hits","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=11308","title":{"rendered":"Pursuit scores with deep lithium hits"},"content":{"rendered":"<p>Pursuit Minerals first Rio Grande Sur well strikes deeper, high-grade lithium brines at the Maria Magdelena tenement<br \/>\nThis intersection is well below the currently calculated resource of 251,300t LCE<br \/>\nRig to move to drill next deep diamond hole at the Sal Rio II tenement<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> Pursuit Minerals\u2019 maiden drill program at its Rio Grande Sur lithium brine project could add to the size and grade of the current resource after the first hole returned deeper assays of up to 629mg\/L.<\/strong><\/p>\n<div><span class=\"mce_SELRES_start\">\ufeff<\/span><span class=\"mce_SELRES_start\"><\/span><span class=\"mce_SELRES_start\"><\/span><span class=\"mce_SELRES_start\"><\/span><\/div>\n\n<p>This high-grade assay from an interval of 512.75m to 518m is just one of several intersections grading above 600mg\/L (milligrams per litre of lithium) that were intersected below the currently calculated resource of 251,300t of lithium carbonate equivalent grading 351mg\/L.<\/p>\n<p>It follows the <a href=\"https:\/\/stockhead.com.au\/resources\/impressive-lithium-grades-at-shallow-depth-mark-great-start-for-pursuit-minerals-rio-grande-resource-expansion\/\"><strong>intersection of high lithium grades<\/strong><\/a> of up to 620mg\/L at shallow depths.<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/pursuit-minerals-pur\/\"><strong>Pursuit Mineral\u2019s (ASX:PUR)<\/strong><\/a> Rio Grande Sur\u00a0project sits within Argentina\u2019s Salta province, part of South America\u2019s Lithium Triangle \u2013 the world\u2019s largest source of lithium from salt flats.<\/p>\n<p>It is next door to established operations and developments such as\u00a0<a href=\"https:\/\/stockhead.com.au\/company\/arcadium-lithium-ltm\/\"><strong>Arcadium Lithium\u2019s (ASX:LTM)<\/strong><\/a>\u00a0El Fenix and Sal de Vida, POSCO\u2019s Sal de Oro and Ganfeng\u2019s Mariana projects, among others.<\/p>\n<p>The company\u2019s pilot plant has also started the first phase of operations to produce lithium carbonate using synthetic brine.<\/p>\n<p>\u00a0<\/p>\n<p>Proposed Stage 1 drill holes. Pic: Pursuit Minerals<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Deeper, higher-grade lithium<\/strong><\/h2>\n<p>PUR\u2019s maiden six-hole Stage 1 drill program is now off to a great start with the first hole \u2013 DDH1 on the Maria Magdelena tenement \u2013 returning substantial high-grade lithium brine intersections below the existing resource.<\/p>\n<p>Additionally, the company noted that its on-site geologists and drilling team were extremely encouraged by the geological units encountered across the depths of the hole.<\/p>\n<p>This includes a highly porous sandy unit at a depth of ~100-130m that features lithium brine grades substantially above expectations based on historical results. This includes 2m grading 620mg\/L from 115.5m.<\/p>\n<p>As such, this zone has been earmarked as the potential location of a pumping well due to its heightened porosity and average grade of 620mg\/L.<\/p>\n<p>\u201cThe results from DDH-1 are substantial as we demonstrate the world class potential of the Rio Grande Sur project,\u201d managing director Aaron Revelle said.<\/p>\n<p>\u201cWith completion of DDH-1, we are continuing the important advancements we have made in our understanding of the RGS project mineralisation, with the results continuing to demonstrate the potential large scale of the project.<\/p>\n<p>\u201cWith outstanding high grade brine intercepts of ~600mg\/L at depths of 115.5m and those grades continuing to ~520m, the project is exceeding our expectations.<\/p>\n<p>\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 substantial mineral resource upgrade.<\/p>\n<p>\u201cThis 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 advancing off-take discussions with multiple requests for product samples from potential off-take partners.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Next steps<\/strong><\/h2>\n<p>With completion of DDH-1, the onsite drilling crew will now relocate and mobilise to DDH-2 on the Sal Rio II tenement southwest of the Rio Grande Salar.<\/p>\n<p>A transient electromagnetic survey conducted at the salt lake in 2023 outlined a ~100m thick low resistivity (high conductivity) layer from ~150m to 300m depth underlying the tenement.<\/p>\n<p>This high conductivity layer is considered highly prospective for lithium bearing brines.<\/p>\n<p>DDH-2 is expected to be drilled to depths of 500-600m below the surface, consistent with DDH-1, where drilling was substantially deeper than the currently defined JORC resource.<\/p>\n<p>PUR also intends to use brine produced from the Stage 1 drill program at the pilot plant to produce lithium carbonate.<\/p>\n<p>\u00a0<\/p>\n\n<p>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Pursuit Minerals, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/pursuit-scores-with-deep-lithium-hits\/\">Pursuit scores with deep lithium hits<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Pursuit Minerals first Rio Grande Sur well strikes deeper, high-grade lithium brines at the Maria Magdelena tenement This intersection is well below the currently calculated <a href=\"https:\/\/economicherald.net\/?p=11308\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":11309,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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