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An update from Patagonia Lithium Limited ( (AU:PL3) ) is now available.
Patagonia Lithium reported strong brine extraction results from Well Seven JAM 26-07 at its Formentera Lithium project in Argentina, with 11 of 13 packer tests successfully recovering 200 litres of brine at depths up to 350 metres. The brine samples showed high specific gravity, strong electrical conductivity and elevated total dissolved solids, indicating favourable conditions for lithium-bearing brines within a thick, high-porosity sandstone unit capped by a clay aquitard.
The company is conducting a 72-hour pump test on four wells while monitoring surrounding wells for brine level changes, with core and brine samples handled under strict chain-of-control procedures. Management indicated that the positive porosity and flow-rate results support an expected expansion of the project’s mineral resource estimate domain, as drilling now covers each corner of the concession, potentially enhancing future production potential and project scale.
More about Patagonia Lithium Limited
Patagonia Lithium Ltd is an Australia-based lithium exploration company focused on brine-hosted lithium resources, with projects including the Formentera Lithium concession. The company targets high-conductivity lithium brines within porous sandstone and gravel units, aiming to expand its mineral resource estimate through systematic drilling and pump testing across its tenements.
Average Trading Volume: 582,867
Technical Sentiment Signal: Buy
Current Market Cap: A$24.85M
See more data about PL3 stock on TipRanks’ Stock Analysis page.