Pursuit Minerals' strategic upgrade

Pursuit Minerals (ASX:PUR) has announced a substantial upgrade to its Mineral Resource Estimate at the Rio Grande Sur Project in Argentina. The upgrade marks a remarkable 339% increase, bringing the total to 1,104,300 tonnes of Lithium Carbonate Equivalent (LCE) with an average lithium concentration of 505.8mg/l. This move positions the project as a significant player in the lithium brine sector.

Pursuit Minerals' future directions

Pursuit Minerals has made a significant leap forward with the upgraded resource estimate at its Rio Grande Sur Project, showcasing its potential as a formidable player in the lithium market. The 339% increase in resources highlights the project's capacity to become a major lithium brine operation. Pursuit is progressing towards commercial production with their 250 tonnes per annum pilot plant slated for completion in early 2025. The company is engaging in strategic discussions for off-take agreements and plans to further explore and expand resources through deeper drilling. With its upgraded resource, Pursuit aims to secure its position in the growing lithium market, driven by demand from electric vehicles and renewable energy industries.

Executive insights on resource expansion

The upgrade significantly enhances the project's potential as a large-scale, low-cost lithium brine operation.