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An update from Patagonia Lithium Limited ( (AU:PL3) ) is now available.
Patagonia Lithium has completed drilling of well JAM 25-05 at its Formentera concession to a depth of 401 metres, stopping short of the planned 600 metres after encountering compacted, low-porosity clay formations between 250 and 400 metres that yielded no statistically measurable brine flows. Three packer brine samples taken from shallower intervals returned lithium grades of up to 219 ppm at 165-170 metres with favourable low magnesium-to-lithium ratios, and six core samples have been sent to a Buenos Aires laboratory for porosity analysis; meanwhile, the company is preparing a drill pad for the next well, 26-06, south of JAM 24-02, to support a higher indicated mineral resource estimate, underlining both the geological complexity of the salar and the ongoing effort to delineate economically viable brine aquifers.
The most recent analyst rating on (AU:PL3) stock is a Hold with a A$0.13 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 exploration and development company focused on lithium brine projects in South American salars, targeting resources that can support the growing global demand for battery-grade lithium in the energy storage and electric vehicle markets.
Average Trading Volume: 197,040
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$22.39M
For detailed information about PL3 stock, go to TipRanks’ Stock Analysis page.