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Pursuit Minerals Update | 2024 Hits & 2025 Outlook4 February 2025 - 1:02 pm
Overview
To The Rio Grande Sur Lithium Project comprises 5 tenements covering 9,260 hectares within the Rio Grande Salar in Salta Province, Argentina—one of the world’s most lithium-rich regions. Situated in the Lithium Triangle, this area accounts for over 50% of global lithium resources and 40% of world production. With a JORC-compliant resource of 1.104 million tonnes of lithium carbonate equivalent (LCE) at 505.8 mg/L Li (591.9kt @ 515mg/L Li Indicated, 512.5kt @ 512.5mg/L Li Inferred), the project is advancing rapidly toward near-term production. (See ASX announcement 9 December 2024.)
JORC Resource & Expansion Potential
- JORC Indicated & Inferred Resource: 1.104Mt LCE @ 505.8 mg/L Li, confirming a significant lithium brine deposit.
- Phase 1 Drilling Success: DDH-1 and DDH-2 intersected high-grade lithium brines with results up to 629 mg/L Li, validating historical exploration.
- Resource Expansion: The brine aquifer remains open at depth, and untested northern areas present further growth potential.
- Next Steps: Stage 2 drilling will focus on DDH-3 and DDH-4 at Mito, with DDH-5 through DDH-8 planned based on market conditions.
Accelerating Production – 250 tpa Lithium Carbonate Pilot Plant
Pursuit Minerals is advancing its lithium production strategy through a 250 tpa Lithium Carbonate Pilot Plant, a key step towards full-scale commercial production:
- First Production in 2025 – Pilot plant commissioning is underway, targeting battery-grade lithium carbonate output to validate processing flows.
- Technical De-Risking & Revenue Generation – The plant enables early-stage lithium carbonate production, de-risking processing methodology while offering potential near-term cash flow.
- Relocation to Site – Initially operating in Salta, the plant will be relocated to Rio Grande Salar for continuous production, supporting expansion plans.
- Scalable Growth Pathway – The modular design allows for staged expansion, with future capacity planned towards 5,000-15,000 tpa, subject to financing and market conditions.
Strategic Location in the Lithium Triangle
The Rio Grande Sur Project is surrounded by major lithium producers, benefiting from proximity to infrastructure and global supply chains:
- Adjacent to Rio Tinto’s Arcadium operations (formerly Livent, Allkem, and Arcadium).
- Near Eramet, Ganfeng, and Lithium Argentinas’ lithium projects, reinforcing the region’s status as a Tier-1 lithium jurisdiction.
Pursuit Minerals is positioned for rapid growth, leveraging Argentina’s lithium boom to become a significant supplier for the global EV battery market.