Pursuit Minerals Ltd (ASX:PUR) managing director and CEO Aaron Revelle talked with Proactive’s Tylah Tully about the company's flagship Rio Grande Sur Project in Salta Province, Argentina.
Revelle announced a significant resource upgrade, with the lithium resource increasing over 300% to 1.1 million tonnes at a grade of more than 500 mg/L lithium.
This upgrade represents a notable step forward in both resource size and grade, positioning the project as a competitive player in the lithium market.
Revelle explained how this enhanced resource, combined with the project's 250-tonne lithium carbonate pilot plant in Salta City, has technically de-risked the operation.
"This expanded resource allows us to plan for a mine life approaching 50 years, with first battery-grade lithium carbonate expected by Q1 2025," Revelle said.
The company is advancing feasibility and scoping studies for scaling production to as much as 20,000 tonnes annually.
In 2025, Pursuit will focus on bringing the pilot plant into continuous operation on-site and exploring potential resource expansions.
Revelle emphasised that the Rio Grande Sur Project remains competitive, with operating costs projected to be in the $4,000 to $5,000 per tonne range, ensuring profitability even at current lithium prices.