Mineral explorer and project developer Pursuit Minerals (ASX:PUR) has secured a new tenement at the Rio Grande Sur Lithium Project in the Salta Province of Argentina.
The company reports the Salta Mining Secretary has formally approved and granted the Mito tenement, which covers 8,660 hectares of land. Mito is one of the 5 tenements that form the Rio Grande Sur Project and collectively comprise 9,233 hectares of tenure.
Commenting on the new tenement, Pursuit Chief Operating Officer (CEO) Aaron Revelle says: “The approval of the Mito tenement rounds out an already-impressive tenement position on the Rio Grande Salar.
“The approval of the Mito tenement rounds out an already-impressive tenement position on the Rio Grande Salar”
With the CS-AMT surveys planned for the middle of the year, we are excited to see the resource potential of this tenement, especially given the recent public announcement of drilling on a directly adjacent tenement. These drilling results revealed multiple promising intercepts of significant thickness hosting lithium brine.”
Pursuit says in April 2023, a company drilled 800m-1,000m off the salar surface on a tenement directly adjacent to Mito and intersected multiple potential lithium brine aquifers of ‘significant’ thickness. Pursuit reports this hole was observed by the company’s management on a recent trip to the project in March 2023.
The drillhole allegedly intersected several ‘encouraging’ salar evaporite and semi-consolidated sedimentary lithologies. Further, the hole generated ‘highlighted’ intersections of up to 400m, including a 150m thick brine-bearing black sand/fractured halite unit from about 90m to 240m and an 80m thick brine-bearing black sand/secondary carbonate unit from about 320m to 400m.
Due to a ‘significant’ portion of the interpreted depositional centre falling in the Mito tenement area, Pursuit anticipates similar results will be found at Mito.
Pursuit Minerals is an ASX-listed mineral exploration and project development company focused on platinum group element (PGE)-nickel-copper and gold projects in Australia.
The company’s portfolio includes the Warrior, Combatant, and Commando projects in Western Australia, along with the Rio Grande Sur Lithium Project in Argentina.
Images: Pursuit Minerals Ltd
