Pursuit Minerals Ltd (ASX: PUR) has completed a transient electromagnetic (TEM) geophysical survey at the company’s Rio Grande Sur Project in Salta, Argentina which has yielded significant results identifying multiple zones highly prospective for lithium enriched brines.
In relation to the TEM survey results, Pursuit managing director & CEO, Aaron Revelle, said: “The results of the TEM survey have continued in line with expectations that the Rio Grande Sur Project has potential to host a significant resource of Lithium brine. Pursuit is now focused on our maiden drilling campaign to define this resource as we await the environmental permits. The TEM data has outlined multiple 100m thick low resistivity (high conductivity) layers from approximately 150m to 300m depth underlying various tenements. These layers are below the current Canadian National Instrument 43-101 (NI43-101) inferred resource drilling which extended to 100m. The data additionally suggests that the material deeper than 250m is conductive and will also be considered prospective for future lithium brine exploration.”
The Rio Grande Salar hosts an Inferred Resource of 2.1Mt LCE at an average grade of 370mg/Li to a depth of 100m reported as part of an existing NI43-101 report (LSC Lithium Corporation of Canada, 2018). CS-AMT surveys have identified lithium enriched brines to a depth of 500m, and planned drilling to this depth is expected to significantly increase the resource. A portion of Pursuit’s Rio Grande Sur tenements (~3,000ha) cover a section of this resource.
Quantec collected data using their internally developed TEM field procedure. A series of TEM profiles were measured at the Rio Grande Sur Project tenements using a moving-loop method in which the receiver coil was located at the centre of a square, a single-turn transmission loop of 200m x 200m established and readings taken at 1km intervals.
Four readings were acquired from each station with 15 second integration, stacked and averaged to assess data scatter and improve repeatability of measurements. The TEM system was calibrated by Quantec prior to commencement of the survey. All digital data was inspected daily by the survey crew and the company’s consulting geophysicist. No bad data was noted, and no lines were required to be re-sampled. A total of 150 soundings were collected along 24 profiles in four tenements: Sal Rio I; Sal Rio II; Maria Magdelena; and Isabel Segunda.
To read more about this release, please visit www.pursuitminerals.com.au
To read more news like this, please visit www.theassay.com/news
