Pursuit Minerals Drills into Deeper Lithium Brine Target at Rio Grande Sur

Pursuit Minerals (ASX:PUR) started diamond drilling Wednesday at the Mito tenement of its Rio Grande Sur lithium project in Argentina. The hole, DDH-3, targets the highest-confidence segment of a conductive system the company identified after reprocessing its controlled-source audio-frequency magnetotelluric (CSAMT) data.

That reprocessing work changed the picture. Earlier interpretations only went about 250 metres below surface. The new dataset pushes reliable readings past one kilometre, revealing a laterally continuous conductive domain the company interprets as fluid-bearing horizons prospective for lithium brine mineralisation. The anomaly runs across multiple CSAMT lines, so the geology team sees it as a basin-scale feature, not an isolated pocket.

CEO Aaron Revelle said the reprocessing "transformed our understanding of the Mito tenement." He described the target as "a coherent basin-scale feature showing remarkable continuity across multiple survey lines."

The drill program comes after Pursuit completed a pre-feasibility study and updated the project's resource to 1.264 million tonnes of lithium carbonate equivalent. That puts the focus on expanding the resource, not just proving what is already known. Revelle said DDH-3 "has the potential to materially expand our resource base while strengthening the long-term development pathway."

PUR shares rose 7.69% to 7.0¢ on the news, giving the company a market capitalisation of about $85,000.