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Patagonia Lithium Limited ( (AU:PL3) ) has shared an update.
Patagonia Lithium Ltd has announced successful initial drilling results at its Formentera concession, with the first packer brine extraction test completed at a depth of 104 meters. The test revealed promising brine characteristics, including a specific gravity of 1.055 gm/cm3 and a flow rate of 1,286 liters per hour, indicating potential for high lithium concentration as drilling progresses. The results are in line with the company’s expectations and budget, suggesting positive implications for its operations and future lithium production potential.
More about Patagonia Lithium Limited
Patagonia Lithium Ltd is a company operating in the lithium industry, focusing on the exploration and development of lithium resources. The company is engaged in drilling and testing activities to assess the potential of lithium brine deposits.
Average Trading Volume: 144,411
Technical Sentiment Signal: Buy
Current Market Cap: A$11.64M
Find detailed analytics on PL3 stock on TipRanks’ Stock Analysis page.