Untested Depths and AI Tech: Pursuit’s Risky Bet on Argentina’s Sascha Marcelina

A Transformational Acquisition in a Tier-1 Gold District

Pursuit Minerals Limited (ASX – PUR) has announced a binding agreement to acquire 100% of Andara Mining Pty Ltd, which holds exclusive rights to the Sascha Marcelina Gold-Silver Project in Santa Cruz, Argentina. This acquisition marks a significant strategic expansion for Pursuit, positioning the company within the Deseado Massif, a globally renowned epithermal gold-silver province with a proven endowment exceeding 30 million ounces of gold equivalent.

The Sascha Marcelina project spans approximately 100 square kilometres and hosts multiple vein corridors and alteration zones that have seen limited historical exploration but promising results. Pursuit’s entry into this district-scale system offers exposure to a high-grade gold-silver opportunity with substantial upside potential.

Encouraging Drill Results and Untapped Depth Potential

Historic drilling at the Sascha Main and Marcelina targets has returned impressive intercepts, including grades exceeding 9 grams per tonne gold equivalent over significant widths. Notably, mineralisation remains open at depth, with no drilling conducted below approximately 170 metres at Sascha Main and all Marcelina drill holes ending in mineralisation. These facts suggest a largely untested boiling zone, a critical target for high-grade epithermal deposits.

Geophysical surveys have identified strong chargeability anomalies coincident with resistivity highs, interpreted as potential feeder structures that could host richer mineralisation at depth. Pursuit plans to aggressively test these targets with a high-impact drilling program, aiming to unlock new discoveries that could materially enhance the project’s value.

Capital Raising Fuels Exploration Ambitions

Backing this acquisition is a firm commitment to raise approximately A$4.04 million through a placement to institutional and sophisticated investors at $0.075 per share. The capital will fund acquisition costs and an accelerated exploration campaign focused on delineating high-grade zones and expanding the mineralised footprint.

Existing board members, including Non-Executive Director Stephen Layton, have demonstrated strong support by subscribing to the placement, underscoring confidence in the project’s potential. Shareholder approval will be sought for key share issuances related to the acquisition and incentive options for the board.

Leveraging AI for Smarter Exploration

In a nod to cutting-edge technology, Pursuit has engaged Windfall Geotek to apply its AI-powered exploration platform across the Sascha Marcelina project. This system integrates diverse geoscientific datasets to identify subtle mineralisation signatures invisible to traditional methods, enhancing targeting efficiency and discovery probability. Such innovation aligns Pursuit with industry leaders employing advanced analytics to unlock value in complex mineral systems.

Strategic Positioning in Argentina’s Precious Metals Sector

The acquisition complements Pursuit’s existing lithium assets in Argentina, creating a diversified portfolio across key commodities in a jurisdiction favoured by global miners. The proximity to world-class operations like Newmont’s Cerro Negro and AngloGold Ashanti’s Cerro Vanguardia further validates the district’s prospectivity and infrastructure advantages, including under-utilised processing facilities that could accelerate future development.

With a clear pathway to near-term discoveries and a robust exploration pipeline, Pursuit Minerals is poised to transform its profile and unlock substantial shareholder value in one of the world’s premier gold-silver provinces.