PUR’s largest lithium permit now granted
Our lithium Investment Pursuit Minerals (ASX: PUR) has just had its largest permit approved at its lithium brine project in Argentina.
For some context on the newly approved permit, it makes up ~8,660 hectares of the total ~9250 hectares of ground PUR holds in the Rio Grande Salar.
Below is a map showing where the newly approved ground sits:
The Mito ground speaks to one of two exploration approaches PUR has:
1. PUR’s existing ground - to build and improve confidence in its lithium resource.
Inside the salt lake that contains PUR’s ground, there is an already defined foreign NI43-101 lithium resource of 2.1Mt lithium carbonate equivalent (LCE) at an average grade of 370mg/Li.
So far drilling inside the lake has been limited to depths <150m, PUR plans to drill to depths >300m and define its own maiden JORC resource by the end of this year.
2. Drill to the northern edge of the lake - (Blue sky exploration potential)
This is where today’s tenements come into play, here PUR wants to drill test a “sub-basin” theory on its ground at the margins of the salt lake.
Testing this same theory, recent drilling ~800-1,000m off the Salar surface adjacent PUR’s ground hit multiple lithium bearing brine aquifers.
Below is a visual representation of what PUR is looking to test:
The Mito ground sits outside of the Salar’s existing resource estimate and could be the key to an increase in the size and scale of PUR’s project.
We view the “sub-basin theory” as the unexpected blue sky exploration equivalent for PUR.
What’s next for PUR:
