Pursuit Minerals Acquires Sascha Marcelina, Targets High-Grade Gold and Lithium Growth

Strategic Acquisition in a Premier Gold District

Pursuit Minerals Limited (ASX, PUR) has officially settled the acquisition of Andara Mining Pty Ltd, thereby securing exclusive rights to the Sascha Marcelina Gold Project in Argentina’s prolific Deseado Massif. This region is renowned for its epithermal gold-silver systems, hosting major operations such as Newmont’s Cerro Negro, which boasts an 8 million ounce gold resource. The acquisition marks a significant milestone, granting Pursuit full control over a large, underexplored district with multiple high-grade vein corridors and preserved geological features indicative of strong mineral potential.

Focused Exploration and High-Impact Drilling Plans

With ownership secured, Pursuit is moving swiftly to refine and rank high-priority drill targets ahead of its maiden drilling program scheduled for early next year. The company’s exploration strategy zeroes in on the Sascha Main trend; a 2-kilometre corridor with several high-grade shoots; and the Marcelina silica cap system, which shares geological similarities with world-class deposits. Notably, the untested boiling-zone depths beneath these targets represent compelling opportunities for discovery-grade mineralisation. Historical drilling has already returned encouraging intercepts, but the upcoming program aims to test deeper horizons where gold and silver grades typically peak.

Parallel Progress on Lithium Front

Alongside its gold ambitions, Pursuit continues to advance its flagship Rio Grande Sur Lithium Project. The company is nearing completion of a 5,000 tonnes per annum feasibility study and is evaluating a dedicated drilling campaign at the Mito tenement. This site has shown promising geophysical signatures consistent with lithium-enriched brine systems, and targeted drilling could significantly expand the existing 1.1 million tonne lithium carbonate equivalent resource. The timing aligns with a strengthening lithium market outlook, as forecasts predict a shift from surplus to deficit by 2026, potentially enhancing the project’s long-term value.

Corporate Developments Bolster Strategic Capacity

In a notable board change, Pursuit has welcomed Colin McKenzie as a Non-Executive Director, succeeding Stephen Layton who resigned. McKenzie brings over 40 years of capital markets and wealth management experience, which is expected to strengthen the company’s governance and investor relations as it pursues its dual-commodity growth strategy. This leadership refresh comes at a pivotal time as Pursuit positions itself to unlock value across its Argentine portfolio.

A Dual-Commodity Growth Platform with Multiple Catalysts

The combined gold and lithium assets create a diversified growth platform for Pursuit Minerals. The imminent drilling at Sascha Marcelina offers the potential for a major precious metals discovery, while the lithium project’s feasibility and resource expansion efforts could accelerate development in a market poised for tighter supply. Together, these initiatives provide multiple near-term catalysts that could reshape the company’s trajectory and deliver shareholder value.