Pursuit Plans 4,050m Drilling to Test High-Grade Targets in Argentina

Exploration Strategy and Geological Context

Pursuit Minerals Limited has completed the technical planning phase for its maiden exploration program at the Sascha Marcelina Gold Project, located in the highly prospective Deseado Massif of Santa Cruz, Argentina. This region is renowned for its epithermal gold-silver systems, hosting over 29 million ounces of gold and silver, including the world-class Cerro Negro mine operated by Newmont.

The company’s integrated approach combines geological mapping, geophysical surveys, and structural analysis to refine drill targets. Notably, the project features a preserved silica cap system at Marcelina, a rare geological feature in the province that shares key characteristics with Cerro Negro, such as advanced argillic alteration and dome-related structures. These features suggest a vertically intact epithermal system with significant potential for concealed high-grade mineralisation at depth.

High-Conviction Targets at Sascha Main and Marcelina

The Sascha Main target outlines a 2-kilometre mineralised corridor with historical drilling confirming high-grade gold intercepts, including up to 9.2 grams per tonne gold equivalent over 1.6 metres. However, previous drilling was shallow and did not test the critical boiling-zone horizon where epithermal systems typically concentrate their richest mineralisation. Geophysical data reveals coincident chargeability and resistivity anomalies beneath the surface, interpreted as sulphide-rich quartz veining, which remain untested at depth.

At Marcelina, the large silica cap overlies a geophysical anomaly interpreted as a feeder structure with strong chargeability and resistivity signatures. Historical drill holes intercepted hydrothermal breccias and polymetallic mineralisation but ended above the boiling zone, leaving the most prospective zones unexplored. The combination of geological and geophysical evidence positions Marcelina as a compelling discovery target.

AI-Assisted Targeting and Planned Drilling Campaign

Pursuit has employed advanced AI-assisted targeting techniques to validate and prioritize drill targets, integrating structural, geochemical, and geophysical data to produce a three-dimensional probability model. This data-driven approach aims to focus exploration capital on the highest-confidence zones, reducing technical risk and enhancing the potential for discovery-scale results.

The upcoming exploration program will include detailed structural mapping, expanded induced polarization (IP) geophysical surveys, and a two-phase drilling campaign totaling 4,050 metres. Phase 1 will involve 2,550 metres of diamond drilling targeting depths of 300 to 500 metres to test the boiling-zone horizons. Phase 2 will comprise 1,500 metres of reverse circulation drilling to rapidly test additional geophysical and structural targets.

Dual Commodity Growth Strategy

Alongside its gold-silver exploration, Pursuit is advancing a 5,000 tonnes per annum feasibility study at its Rio Grande Sur lithium project. Supported by improving lithium market conditions, the company is also considering recommencing drilling to expand resources at the highly prospective Mito tenement. This dual focus on gold and lithium positions Pursuit to capitalize on two robust commodity markets, offering multiple near-term catalysts for value creation.

While the exploration results and geological models are promising, some historical drilling data lacks comprehensive quality assurance documentation, and true widths of mineralisation remain to be determined. The company’s forward-looking production scenarios are aspirational and contingent on further technical and economic assessments.