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An update from Patagonia Lithium Limited ( (AU:PL3) ) is now available.
Patagonia Lithium has completed the first packer test on its seventh well, JAM 26-07, at the Formentera lithium project in Jujuy, Argentina, achieving a flow rate of 857 litres per hour from a 100–105 metre interval and extracting 1,400 litres of brine. Core and brine samples were collected under chain-of-control procedures, with the well planned to 600 metres depth, potentially expanding the company’s mineral resource estimate domain by demonstrating a flowing aquifer at 100 metres and adding volume two kilometres from existing drill holes.
The company also finished an environmental data survey for the project and submitted it to the Jujuy Mines Department, marking a key regulatory step for ongoing fieldwork. Geological logging shows a persistent volcanic and volcaniclastic sequence between 44 and 65 metres that correlates with previous wells and is considered a likely contributor to lithium-bearing brines, while additional porosity testing is being carried out using Lexan tube samples around 107.5 metres depth to further characterise the aquifer.
More about Patagonia Lithium Limited
Patagonia Lithium Ltd is an Australian-listed exploration company focused on developing lithium brine resources in Argentina’s Jujuy province. The company targets sedimentary and volcaniclastic aquifers within salars, aiming to define mineral resource estimates that can support future lithium production for the global battery and electric vehicle markets.
Average Trading Volume: 688,528
Technical Sentiment Signal: Buy
Current Market Cap: A$31.06M
See more insights into PL3 stock on TipRanks’ Stock Analysis page.