Pursuit’s Rio Grande Sur Resource Upgraded 339%, Pilot Plant Produces 99.5% Pure Lithium
Pursuit Minerals has achieved a key milestone with its first high-purity lithium carbonate production at its pilot plant in Argentina, setting the stage for commercial development of its Rio Grande Sur project. The company is streamlining its focus on Argentina, advancing feasibility studies and strategic acquisitions amid a supportive mining environment.
- First lithium carbonate produced at 250tpa pilot plant with 99.5% purity
- JORC resource upgraded by 339% to 1.1 million tonnes lithium carbonate equivalent
- Feasibility study underway for 5,000tpa commercial operation
- Western Australia gold projects sold to fund Argentina growth strategy
- Cash balance at AUD 0.557 million with cost-cutting and capital raising plans
Pilot Plant Success Validates Rio Grande Sur Potential
Pursuit Minerals Limited has marked a significant technical achievement by producing its first lithium carbonate at its 250 tonnes per annum pilot plant in Salta, Argentina. The initial product purity of 98.9% was further refined to 99.5%, meeting stringent technical-grade standards and confirming the viability of its processing flowsheet. This milestone places Pursuit among a select group of ASX-listed lithium developers with demonstrated pilot-scale production capability.
The pilot plant uses synthetic brine replicating the Rio Grande Sur project's chemistry, validating the company’s approach to scaling up lithium extraction from Argentina’s lithium-rich salars. This success underpins Pursuit’s ambition to transition from pilot to commercial production in a staged, capital-efficient manner.
Resource Upgrade and Feasibility Drive Development Strategy
Supporting this technical progress is a substantial upgrade to the Rio Grande Sur JORC Mineral Resource, which now stands at 1.104 million tonnes of lithium carbonate equivalent, a 339% increase from previous estimates. The resource boasts a high average lithium grade of 505.8 mg/L, reinforcing the project's potential as a globally competitive lithium brine asset.
Feasibility studies for a 5,000 tonnes per annum commercial operation are advancing, with detailed engineering, environmental permitting, and evaporation pond planning underway. These efforts aim to de-risk the project and align development with Argentina’s attractive fiscal incentives, including tax reductions and export duty exemptions under the Régimen de Incentivos para Grandes Inversiones (RIGI) program.
Strategic Refocus on Argentina and Portfolio Optimization
In a strategic pivot, Pursuit has divested its Western Australian gold projects, Commando and Warrior, for $300,000. The proceeds are being redirected to accelerate growth in Argentina, where the company is also actively evaluating acquisitions in lithium, copper, gold, and silver. This repositioning reflects confidence in Argentina’s emerging status as a Tier 1 mining jurisdiction, bolstered by recent high-profile transactions and supportive government reforms.
Engagement with potential offtake partners is progressing, with certified 99.5% lithium carbonate samples dispatched for qualification. This commercial outreach is critical for securing long-term supply agreements and investment partnerships as the company prepares for scaled production.
Financial Position and Outlook
As of 30 June 2025, Pursuit reported a cash balance of approximately AUD 0.557 million, supplemented by anticipated funds from recent capital raising efforts. The company has implemented aggressive cost controls, including reduced corporate spending and suspension of capital-intensive exploration activities, to extend its runway. Directors remain confident in securing additional funding to support ongoing operations and project development.
Looking ahead, Pursuit’s priorities for the September quarter include advancing feasibility and permitting activities, constructing test evaporation ponds, deepening strategic partnerships, and pursuing high-impact acquisitions aligned with its Argentina-focused growth strategy.
Bottom Line?
Pursuit Minerals’ pilot plant breakthrough and resource upgrade set a promising foundation, but execution of feasibility, permitting, and funding will be critical to unlocking Rio Grande Sur’s full potential.
Questions in the middle?
- How will Pursuit secure the necessary capital to sustain development beyond the pilot phase?
- What timelines are realistic for commercial production and offtake agreements at Rio Grande Sur?
- Which strategic acquisitions in Argentina could most significantly enhance Pursuit’s growth trajectory?