Pursuit Minerals Acquires Rio Grande I Tenements in Argentina for $150K

Why It Matters

Securing royalty‑free, contiguous land positions Pursuit to scale its lithium brine resource ahead of a market surge, enhancing its ability to meet the expected doubling of lithium demand by 2030.

Key Takeaways

• Pursuit adds 1,362 ha to Rio Grande Sur, now 10,595 ha
• Acquisition gives 100% ownership, no royalties to REMSA
• Deal costs US$125k plus US$25k social fund contribution
• Minimum US$150k exploration spend required within 12 months
• Expanded land targets same brine trend as Mito tenement

Pulse Analysis

The global lithium market is entering a rapid expansion phase, with demand forecast to double by 2030 as electric‑vehicle sales, artificial‑intelligence data centers and grid‑scale storage projects accelerate. Argentina’s “Lithium Triangle,” particularly the Rio Grande Salar in Salta province, has emerged as a low‑cost, high‑grade brine source that many developers are racing to secure. Pursuit Minerals, listed on the ASX, has been building a contiguous land package around its flagship Rio Grande Sur project, which already hosts a 5,000‑tonne‑per‑year lithium carbonate pre‑feasibility study. The company’s strategy hinges on expanding the resource base while keeping operational costs competitive.

The latest transaction adds the Rio Grande I (1,345.21 ha) and Demasía Rio Grande I (17.07 ha) tenements for a cash price of US$125,000, a US$25,000 contribution to a provincial social fund, and a binding US$150,000 exploration spend within the first year. Crucially, the agreement grants Pursuit 100 % ownership of all mining rights with no royalty or residual claim from the seller, REMSA, a rarity in a market where royalty structures can erode project economics. By stitching these parcels onto the existing Mito tenement, the company creates a seamless 10,595‑hectare footprint that follows the same brine‑bearing geological trend identified through recent CSAMT surveys.

With environmental filings for the new area slated for submission and a field camp already established, Pursuit is poised to commence the DDH‑3 drilling program, targeting a resource upgrade that could lift the project’s reserve estimate. If the drill results confirm the anticipated brine concentrations, the expanded land base will provide the scale needed to attract downstream partners or financing for a larger‑than‑planned lithium carbonate plant. Investors watching the lithium supply chain will likely view this royalty‑free land acquisition as a de‑risking catalyst, positioning Pursuit as a stronger contender in the race to supply the next wave of clean‑energy batteries.

Deal Summary

Pursuit Minerals announced the acquisition of the Rio Grande I and Demasía Rio Grande I tenements covering 1,362 hectares adjacent to its Rio Grande Sur project in Argentina from Recursos Energéticos y Mineros Salta (REMSA). The deal provides Pursuit 100% ownership for US$125,000 plus a US$25,000 contribution to a provincial fund, and includes a US$150,000 exploration commitment. The acquisition expands the project footprint to 10,595 hectares amid rising lithium demand.