According to the company, the resource has increased by 339 percent and now stands at 1.104 million tonnes of contained lithium carbonate equivalent grading 505.8 milligrams per litre (mg/L) lithium.
The indicated category includes 591,800 tonnes of lithium carbonate equivalent grading of 515.1 mg/L lithium, while the inferred category contains 512,500 tonnes of lithium carbonate equivalent grading 495.4 mg/ lithium.
Pursuit notes that a lithium cut-off grade of 200 mg/L has been assigned to Rio Grande Sur, in line with other projects in the region. However, the company notes that all chemistry samples show concentration values significantly higher than that.
“This is an outstanding result for Pursuit and our shareholders,” said Managing Director and CEO Aaron Revelle. He added that other resource expansion opportunities exist in the asset’s unexplored northern area.
“The scale of this resource opens the door to significant off-take discussions with several already underway. It’s clear this is no minor upgrade; it’s a transformational major resource with the potential to make a substantial impact on the supply chain,” Revelle emphasised, saying that he expects Pursuit to attract attention from major mining companies.
Rio Grande Sur holds five tenements and covers 9,260 hectares in the Rio Grande salar.
Securing offtake deals remains a priority for the company moving forward.
“We continue to advance off-take discussions with multiple requests for product samples from potential off-take partners,” Revelle said in Monday’s release, adding that Pursuit will focus further on commercial-scale output scenarios.
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Pursuit Minerals is a client of the Investing News Network. This article is not paid-for content.
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