Pursuit Minerals receives approval for large Mito tenement at Rio Grande Sur lithium project

Pursuit Minerals Limited (ASX: PUR), a mineral exploration and project development company, has recently announced a significant development in its Rio Grande Sur project.

The company has received formal approval and granting of the Mito tenement from the Salta Mining Secretary.

This approval marks a crucial milestone for Pursuit Minerals as it paves the way for further exploration and drilling activities in the highly prospective Rio Grande Salar region of Argentina.

The Mito tenement, located in the north-western area of the Rio Grande Salar, holds immense strategic importance for Pursuit Minerals.

The tenement is situated adjacent to a site where recent exploration drilling has yielded positive results, indicating the presence of lithium brine.

With the formal approval obtained, Pursuit Minerals can now proceed with drilling activities, further exploring the lithium brine potential of the Mito tenement.

Pursuit Minerals chief operating officer Aaron Revelle expressed his enthusiasm regarding the Mito tenement approval.

He highlighted the significant opportunity presented by the adjacent drilling results, which showed promising intercepts of substantial thickness hosting lithium brine.

Mr Revelle also mentioned the company’s plans to conduct CS-AMT surveys in the middle of the year, aiming to assess the resource potential of the Mito tenement in greater detail.

The Rio Grande Sur Project, consisting of five tenements covering approximately 9,233ha in the Salta province of Argentina, is highly prospective for lithium mineralisation.

The Rio Grande Salar, where Pursuit Minerals’ project is located, is classified as a mature halite salar.

Previous exploration work by ADY Resources and LSC Lithium has confirmed the presence of lithium brine at depths of up to 500m-600m.

The recent drilling conducted on a neighbouring tenement, approximately 800m-1,000m off the salar surface, has generated favourable results.

Multiple potential lithium brine aquifers of significant thickness were intersected, including a brine-bearing black sand and fractured halite unit, as well as a brine-bearing black sand and secondary carbonate unit.

These findings provide encouraging indications of the potential for similar outcomes within the Mito tenement.

With the formal approval of the Mito tenement, Pursuit Minerals strengthens its position in the Rio Grande Salar.

The company’s focus on PGE-nickel-copper and gold projects, combined with its experienced team and advantageous mining jurisdiction, positions Pursuit for continued success in exploration and project development.