Pursuit Minerals (ASX:PUR) has begun a Controlled Source Audio-Magneto-Telluric (CSAMT) survey at the Rio Grande Sur (RGS) Lithium Project in Argentina.
The $41.21 million market capitalisation company says the survey is being undertaken by Quantec Geoscience, with the results expected to be received by the end of August 2023.
Pursuit is conducting the CSAMT survey to determine lithologies associated with aquifers with lithium in brine, with a specific focus on the Mito tenement within the RGS Lithium Project.
Commenting on the survey, Pursuit Minerals Chief Executive Officer (CEO) and Managing Director Aaron Revelle says: “The CSAMT survey marks the second stage of the planned geophysical workstream of our comprehensive and aggressive development campaign to achieve a maiden JORC resource following drilling at the RGS Project.
The results of the CSAMT survey are of great interest given the proximity of the Mito tenement to recent drilling where lithium grades of 800-900mg/Li, some of the highest lithium grades in Argentina, were discovered approximately 2km to the east of the tenement.
The survey target area has never been subject to any significant historical exploration programs. Whilst Mito was initially secured for infrastructure purposes, the CSAMT survey could be the first step in unlocking significant exploration/resource upside.”
The survey target area has never been subject to any significant historical exploration programs
Upon completing the survey, SRK Exploration will analyse the results of both the TEM and CSAMT surveys to validate and confirm the proposed drilling locations.
As part of the fieldwork preparations for the upcoming drill campaigns in H2 2023, SRK will be conducting a site visit this month to provide them with valuable on-ground insights and data, alongside meeting with drill contractors to refine assessments and planning for drilling operations.
Pursuit Minerals is a mineral exploration and project development company, with a primary focus on platinum group elements, nickel, copper, and gold in Australia, alongside lithium in Argentina.
As of 31 March 2023, the company had $4.035 million cash and cash equivalents at hand, according to its latest quarterly report published on 27 April 2023.
Images: Pursuit Minerals Ltd
