Patagonia Lithium Reports Encouraging Early Brine Results From Formentera Well

Patagonia Lithium Limited ( (AU:PL3) ) has issued an update.

Patagonia Lithium has provided an update on drilling activities at its Formentera concession, where Well JAM 26-06 has reached a depth of 131 metres and intersected highly porous sandy and volcanic units that are considered prospective for lithium-bearing brines. Initial packer tests at 103m and 130m show increasing brine specific gravity, electrical conductivity and total dissolved solids, with flow rates above 1,000 litres per hour, results the company describes as excellent and consistent with the geology encountered in its earlier successful JAM 24-02 well, which previously returned high lithium grades at depth; brine samples from the current well have been collected and are now awaiting laboratory assays, the outcomes of which will be critical for confirming the lithium potential of the Formentera project and could strengthen Patagonia Lithium’s exploration case and standing in the emerging lithium brine sector if they prove favourable.

The most recent analyst rating on (AU:PL3) stock is a Hold with a A$0.11 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 company focused on discovering and developing lithium-bearing brines, with its key operations in South America’s lithium-rich salars. The company targets high-porosity sandy and volcanic lithologies that can host lithium brines, positioning itself within the battery minerals sector as an early-stage player aiming to delineate brine resources for the growing electric vehicle and energy storage markets.

Average Trading Volume: 237,929

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$19.7M

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