Pursuit Minerals beats its lithium high score with 995mg/L at Mito

• Pursuit records a new peak lithium brine assay of 995mg/L
• Four samples exceed 900mg/L, with high-grade brines encountered beyond 500m
• Results strengthen the case for a larger, higher-grade Rio Grande Sur resource

Special Report: Pursuit Minerals has set a new lithium high at its Rio Grande Sur project in Argentina, with final assays from Mito delivering an extraordinary peak concentration of 995mg/L Li.

The latest result is 23% higher than the previous record of 809mg/L announced in September, extending a run of increasingly encouraging results from the northern Rio Grande salar.

Pursuit Minerals (ASX:PUR) also recorded four individual brine samples exceeding 900mg/L lithium and eight above 800mg/L, with high-grade concentrations extending across multiple intervals between about 400m and 510m depth.

The standout assay of 995mg/L came from a packer-sampled interval between 444.2m and 445m.

Other notable results included 964mg/L from 461.2m to 462m, 943mg/L from 480.2m to 481m and 827mg/L from 509.2m to 510m.

The findings build on September’s initial 809mg/L result, providing a clearer picture of the lithium-enriched brines within the deeper Mito system.

“The final results from DDH-3 are an exceptional outcome for Pursuit, delivering the highest lithium grades ever recorded at Rio Grande Sur,” Pursuit managing director and CEO Aaron Revelle said.

“To encounter multiple samples of this grade at depths exceeding 400 metres is particularly significant and reinforces our confidence in the scale, quality and long-term development potential of Rio Grande Sur.”

Digging deeper into resource growth

The Mito drillhole was completed at approximately 560m while still encountering lithium-bearing mineralisation, leaving the lower extent of the system yet to be established.

The presence of multiple high-grade brine samples across the deeper geological sequence is encouraging for Pursuit’s ambitions to expand its existing Rio Grande Sur Mineral Resource.

That resource currently stands at 1.264Mt lithium carbonate equivalent (LCE) at an average lithium concentration of 424mg/L, comprising 705,000t LCE in the indicated category and 559,000t LCE in the inferred category.

The latest assays represent individual brine samples, while the resource grade is an average across the modelled deposit. Pursuit expects the new drilling information to support an assessment of both additional resource tonnes and higher overall grades.

Mito is emerging as a key resource-growth area, with the deeper results adding to the geological and hydrogeological information needed for the next resource estimate.

Revelle expects the results to play a meaningful role in that process.

“We expect these results to make a significant contribution to the next Mineral Resource update, with the potential for substantial growth in both the size and grade of the Rio Grande Sur resource.”

Argentina’s growing lithium industry

Pursuit’s results arrive as Argentina continues to expand its role in global lithium supply.

According to the US Geological Survey, Argentina’s lithium carbonate production increased 67% to 69,515t in 2024, up from 41,610t in 2023. The country’s lithium industry has been expanding through new project developments and increased output from existing operations.

Demand remains another important part of the longer-term picture.

The International Energy Agency’s Global Critical Minerals Outlook 2026 projects lithium demand will more than triple by 2040 under its Stated Policies Scenario, driven largely by electric vehicles and battery storage.

For Pursuit, Rio Grande Sur’s existing development studies provide a framework for assessing the additional lithium that Mito drilling may ultimately establish.

Its initial pre-feasibility study outlines a 5,000tpa lithium carbonate operation, while the company is finalising addendums examining expanded lithium carbonate and lithium chloride development pathways.

The new Mito results and drilling from Demasía, where a second hole was completed to 450m, are expected to feed into the next Mineral Resource update.

Pursuit is also preparing infrastructure for its approved pilot evaporation ponds at Sal Río II, supporting plans to relocate its pilot plant and undertake processing work under field conditions.

Together, the drilling, resource evaluation and development studies will help determine how much additional scale the Rio Grande Sur project can support.

This article was developed in collaboration with Pursuit Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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