Pursuit Minerals Ltd (ASX: PUR) (“PUR”, “Pursuit” or the “Firm”) is happy to current its actions report for the quarterly interval ended 30 September 2024.
HIGHLIGHTS
1. Excessive Grade Lithium Outcomes The most recent drill outcomes on the Rio Grande Sur Undertaking demonstrated lithium concentrations exceeding 500mg/L, enhancing venture worth and supporting an anticipated useful resource improve. These outcomes reenforce the venture’s important potential
2. Pilot Plant Milestone On Observe
The 250 tpa Lithium Carbonate Pilot Plant is ready for preliminary manufacturing by late 2024, a key milestone that strikes the venture nearer to producing income and showcases Pursuit’s dedication to advancing value-creating phases.
3. Targeted Useful resource and Feasibility Enlargement With latest drill knowledge, Pursuit is focusing on a useful resource improve and continues its feasibility research scheduled for supply in H1, 2025. These developments pave the way in which for potential business scaling, aligning with worth pushed progress.
4. Offtake Discussions Ongoing
Superior negotiations for offtake agreements for lithium carbonate from the Pilot Plant give attention to securing product demand and constructing income streams, all while minimising money burn and supporting steady manufacturing targets.
5. Strategic Overview of Commando Gold Undertaking The Commando Gold Undertaking, with excessive grade intersections and renewed market curiosity, is being evaluated for overview for potential exploration or partnerships, aligning with Pursuit’s low-cost technique to create shareholder worth from underutilised property.
PROJECT DEVELOPMENT
In the course of the September 2024 quarter, Pursuit Minerals Ltd (“Pursuit” or “Firm”) has continued to advance by way of quite a few engineering and geological workstreams, allowing approval processes and stakeholder engagement actions at our flagship Rio Grande Sur Lithium Undertaking within the Salta province of Argentina.
Rio Grande Sur (RGS) Lithium Undertaking Argentina
The Rio Grande Sur Undertaking includes of 5 tenements potential for lithium on the Rio Grande Salar within the Salta province of Argentina, along with a Lithium Carbonate Pilot Plant positioned within the metropolis of Salta. The 5 tenements cowl roughly 9,233 hectares (Desk 1).
Desk 1 – Rio Grande Sur Tenement Schedule
Rio Grande Sur Stage 1 Drilling Marketing campaign.
In the course of the quarter, Pursuit introduced the preliminary outcomes of Drill Gap 2 / DDH-2 on the Sal Rio 02 tenement (announcement dated 29 August 2024) with full outcomes introduced following the top of the interval (See announcement dated 30 October 2024.)
DDH-2 achieved a depth of 500m, with Pursuit’s on-site geologists and drilling workforce having been extraordinarily inspired by the geological models encountered throughout the depths of the opening.
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