Join our daily newsletter At The Bell to receive exclusive market insights
- Diamond drilling underway at DDH-3 within Mito tenement
- First drill hole designed to test large conductive system
- Will test core of highest-confidence conductive target
- Drilling designed to support further growth of upgraded mineral resource
Pursuit Minerals (ASX:PUR) has commenced diamond drilling at priority hole DDH-3 within the Mito tenement at its Rio Grande Sur lithium project in Argentina.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The drill hole has been specifically designed to test the highest-confidence portion of the large conductive system identified following the company’s recently completed CSAMT reprocessing program.
Unlike previous interpretations, the reprocessed geophysical dataset significantly improved both depth penetration and resolution, extending reliable interpretation from approximately 250 metres to more than one kilometre below surface.
The work identified a laterally continuous conductive domain interpreted to represent fluid-bearing horizons prospective for lithium brine mineralisation
The conductive system displays exceptional continuity across multiple CSAMT survey lines and is interpreted to represent a coherent basin-scale feature rather than an isolated anomaly.
MD and CEO, Aaron Revelle, said geological interpretation indicates a well-defined structural boundary that may have acted as a control on fluid migration and accumulation, providing an attractive target for lithium-bearing brines.
“The commencement of DDH-3 represents a significant milestone for Pursuit as we begin testing what we believe is one of the highest-quality exploration targets identified across the Rio Grande Sur project,” Mr Revelle said.
“The advanced CSAMT reprocessing transformed our understanding of the Mito tenement, defining a large, continuous conductive system extending from approximately 250 metres to beyond one kilometre depth. Importantly, this is not an isolated anomaly, but a basin-scale geological feature displaying remarkable continuity across multiple survey lines.”
Mr Revelle told shareholders that following the completion of a pre-feasibility study and recent resource upgrade to 1.264 million tonnes (Mt) LCE, the company’s focus has shifted towards unlocking the next phase of growth for Rio Grande Sur.
“DDH-3 has the potential to materially expand our resource base while strengthening the long-term development pathway for the project. With drilling now underway, we look forward to testing this compelling geological target and delivering further updates as the program progresses.”
Mr Revelle said the Mito tenement represents the next phase of growth for the Rio Grande Sur project.
PUR was up 7.69% to 7.0¢. Mkt cap $84.98K.
Join the discussion: See what HotCopper users are saying about Pursuit Minerals and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
-1200x645-380x200.jpg)