Pursuit Minerals finds record lithium brine grade at Rio Grande Sur project

what happened

Pursuit Minerals has recorded the highest lithium brine concentration in the history of its Rio Grande Sur project in Argentina. Final assays from drilling at the Mito tenement reached 995 milligrams per litre. The peak is 23% above the previous 809 mg/L result.

In hole DDH-3, drilled to about 560 metres, three more samples returned above 900 mg/L, and eight samples in total exceeded 800 mg/L. The richest intervals sit roughly between 400 and 510 metres below surface. The company stresses that these figures describe individual samples, not the average grade of a resource, and that the extent of similar concentrations elsewhere is yet to be established.

The project currently holds a resource of 1.264 million tonnes of lithium carbonate equivalent at an average grade of 424 mg/L. Pursuit plans to fold the new data into an updated resource model, while continuing work on pre-feasibility study addendums and a pilot plant.

why it matters

Lithium remains a key input for battery production, so these Argentine drilling results will interest sector investors. However, they are sample-level data from a small company rather than a confirmed resource, and a revised estimate and any move to larger output are still some way off. For the broader market, the news remains niche.

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