Pursuit Minerals has reported promising early results from its DDH-3 drillhole at the Mito tenement, recovering highly saline brines consistent with its geological model and supporting the potential for significant lithium resources.
- Successful packer test recovers conductive brines at DDH-3
- Initial field data aligns with advanced geophysical interpretations
- Lithium assays pending to confirm resource quality
- Drilling progressing towards 700m target depth
- Supports potential expansion beyond 1.264 Mt LCE resource
Early Brine Recovery Validates Mito Exploration Model
Pursuit Minerals Ltd (ASX:PUR) has made a significant stride in its Rio Grande Sur Lithium Project, with the DDH-3 drillhole at the Mito tenement delivering encouraging initial results. The company successfully completed its first packer test, recovering highly saline brines from a targeted aquifer between 156.2 and 180 metres depth. These brines exhibited a specific gravity of 1.220 g/cm³ and an electrical conductivity of 201 mS, both indicators of a conductive, lithium-favourable hydrogeological environment. While laboratory lithium assays are still awaited, these early findings lend strong support to Pursuit's geological and geophysical interpretations derived from advanced Controlled-Source Audio-Magnetotellurics (CSAMT) reprocessing.
Drilling Confirms Basin-Scale Conductive System
The DDH-3 hole was designed to test a large, laterally continuous conductive body identified by CSAMT surveys, extending from approximately 250 metres to over 1 kilometre in depth. Geological logging has confirmed the presence of the expected sedimentary sequence, including halite-rich horizons and basin sediments interpreted as potential hosts for lithium-bearing brines. This continuity across multiple survey lines suggests a coherent basin-scale fluid-bearing system rather than an isolated anomaly, increasing confidence in the prospectivity of the Mito tenement. Pursuit’s Managing Director Aaron Revelle highlighted that these results are "systematically de-risking" one of the most prospective targets within the Rio Grande Sur Project, potentially underpinning future resource growth.
Progressing Towards Deeper Targets and Resource Expansion
Drilling at DDH-3 is ongoing, with the hole advancing toward its planned 700-metre depth. Additional packer tests and brine sample collections are scheduled to refine the hydrogeological model and provide further data for lithium assays. These results will feed into Pursuit’s efforts to expand the existing 1.264 million tonnes lithium carbonate equivalent (LCE) JORC Mineral Resource, underpinning the company’s ambitions for resource growth. The project’s resource estimate and Pre-Feasibility Study (PFS) support the technical and economic viability of lithium extraction via conventional salar brine pumping and evaporation pond processing.
Robust Technical and Regulatory Framework
The announcement includes comprehensive JORC-compliant technical data, with sampling and assay protocols adhering to industry best practices. Independent competent persons have verified the geological interpretations and resource estimates. Environmental and social considerations have been incorporated at the PFS level, with no material impediments identified to date. Pursuit’s lithium extraction plans are aligned with established methods demonstrated by nearby operations, leveraging conventional processing to produce battery-grade lithium carbonate.
Capital and Market Positioning
This drilling milestone follows recent capital raising efforts and strategic expansions at Rio Grande Sur, including securing adjacent tenements to boost the project footprint. The company is positioning itself to capitalise on sustained lithium demand driven by electric vehicle and energy storage markets. The pending assay results and continued drilling will be pivotal in shaping Pursuit’s next steps in resource delineation and project development.
Bottom Line?
Pending lithium assays from DDH-3 will be critical to confirming the scale and grade of the Mito brine system, setting the stage for potential resource upgrades and advancing Rio Grande Sur’s development trajectory.
Questions in the middle?
- How will the pending lithium assay results influence Pursuit’s resource classification and project valuation?
- What are the implications of the basin-scale conductive system for future drilling targets within Rio Grande Sur?
- How might evolving lithium market dynamics affect the economic assumptions underpinning the project’s Pre-Feasibility Study?