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An announcement from Patagonia Lithium Limited ( (AU:PL3) ) is now available.
Patagonia Lithium has reported assay results from its Formentera concession’s JAM 26-06 well, with a peak lithium grade of 412ppm at 405–416 metres, above the project’s current average of 296ppm. Ten brine samples were analysed by independent laboratories, showing favourable chloride levels and high porosity, and the company is preparing a 72-hour pump test to assess hydrological flow capacity.
The drill pad for a new well, JAM 26-07, is ready with drilling to a planned depth of 600 metres set to begin shortly, supported by sufficient on-site diesel supplies. Alongside drilling, Patagonia Lithium is extending a seismic survey to 7km, initiating a BMR gamma porosity survey, conducting core RBRC tests in the U.S., and has filed a substantial update to its environmental report with Jujuy’s mining authorities, marking steady progress toward an updated resource estimate and scoping study.
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, listed on the ASX under ticker PL3, is a lithium exploration company focused on brine resources in Argentina’s Jujuy province. The company is advancing its Formentera concession through drilling, sampling and hydrological testing, targeting an updated mineral resource estimate and future development studies for lithium production.
Average Trading Volume: 507,267
Technical Sentiment Signal: Buy
Current Market Cap: A$40.38M
For an in-depth examination of PL3 stock, go to TipRanks’ Overview page.