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Patagonia Lithium Limited ( (AU:PL3) ) has shared an announcement.
Patagonia Lithium has provided an operational update on its Formentera lithium brine project, confirming that drilling at well JAM 25-05 has reached a depth of 335 metres with stable conditions and encouraging brine volumes encountered in sandy and clay layers. The company has collected initial packer brine samples from shallow intervals for laboratory assay, extracted core samples for porosity analysis in Buenos Aires, hired a specialised double packer system to obtain uncontaminated brine samples at greater depths, and is gathering isotopic data required to complete its environmental plan, all of which mark important steps toward advancing resource definition and environmental approvals at the project.
The most recent analyst rating on (AU:PL3) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Patagonia Lithium Limited stock, see the AU:PL3 Stock Forecast page.
More about Patagonia Lithium Limited
Patagonia Lithium Ltd (ASX: PL3) is an Australian-listed exploration company focused on lithium brine projects, with a key asset at the Formentera concession in Argentina. The company targets lithium-bearing brines, employing drilling, brine sampling, and porosity analysis to define resources in salar and lacustrine sedimentary environments for eventual supply to the battery and electric vehicle markets.
Average Trading Volume: 121,423
Technical Sentiment Signal: Buy
Current Market Cap: A$10.57M
Learn more about PL3 stock on TipRanks’ Stock Analysis page.