What was the technical breakthrough announced by Pursuit Minerals (ASX:PUR)?

Pursuit Minerals successfully reprocessed geophysical data (CSAMT) at its Mito tenement in Argentina, which increased their "vision" into the ground by 4.4x.

Why does the deeper exploration depth at the Mito tenement matter for investors?

The increased depth resolution revealed a massive conductive zone that was previously invisible, suggesting the lithium brine system is much larger and deeper than originally thought.

What is Controlled Source Audio Magnetotellurics (CSAMT) and how did it help PUR?

CSAMT is a ground-based geophysical survey method used to map subsurface resistivity, which helps identify conductive fluids like lithium brines.

How does this news change the investment thesis for Pursuit Minerals (ASX:PUR)?

This news shifts the Mito tenement from a secondary site to a primary growth front for the Rio Grande Sur Lithium Project. It suggests the company may be able to expand its resource base significantly beyond what was outlined in previous production feasibility studies, potentially increasing the long-term valuation of the asset.

What are the next major catalysts for the Pursuit Minerals (ASX:PUR) share price?

The immediate catalyst is a planned 3,200m drilling campaign consisting of three priority drillholes designed to intercept these new deep targets. Investors should watch for "spud" dates (commencing drilling) and subsequent assay results, which will confirm if these conductive zones actually contain economic grades of lithium brine.

What are the key risks for Pursuit Minerals (ASX:PUR) after this announcement?

Despite the positive geophysical data, this remains a speculative exploration play as the deep brine system has not yet been "drilled and proven."

What is the current market valuation and share price of Pursuit Minerals (ASX:PUR)?

At the time of this technical update, Pursuit Minerals was trading at $0.079 per share. While the geophysical breakthrough is a positive narrative shift, the market will likely wait for tangible drilling data to significantly re-rate the company's market capitalisation.

How does Pursuit Minerals' Argentina project fit into the global lithium market?

Management notes that this resource expansion comes as the lithium market is expected to transition from a period of surplus back into a deficit. By identifying larger-scale targets now, Pursuit Minerals (ASX:PUR) is attempting to align its development timeline with an anticipated recovery in global lithium prices.

Pursuit Minerals hits deep lithium targets in Argentina

Written by Isaac FrancisPublished Apr. 14 2026Last Updated Apr. 14 2026

Pursuit Minerals (ASX:PUR) recorded a technical breakthrough at its Mito tenement within the Rio Grande Sur Lithium Project in Salta Province, Argentina.

Following the advanced reprocessing of Controlled Source Audio Magnetotellurics data, the company has identified high-impact drill targets that materially expand the project's exploration horizon.

The primary achievement of this geophysical initiative is a 4.4x increase in reliable interpretation depth, extending the subsurface resolution from a previous limit of ~250 metres to approximately 1.1km.

The enhanced data has revealed a massive, continuous conductive zone in the eastern sector of the tenement, suggesting the presence of a deep-seated brine system far more substantial than initially understood.

The CSAMT results across multiple survey lines provide high confidence in a large-scale mineralisation system with clear geological boundaries, which are essential for fluid concentration.

Pursuit’s Managing Director and CEO, Aaron Revelle, emphasised that this development transforms Mito into a primary growth front for the project, offering clear potential to expand the existing resource base beyond the scope of current production feasibility studies.

To validate these findings, Pursuit has planned three priority drillholes totalling approximately 3,200m.

The holes are designed to test the high-confidence conductive targets and unlock significant resource growth.

At the time of reporting, Pursuit Minerals’ share price was $0.079.