Patagonia Lithium Reveals Exceptional Porosity and Lithium Grades at Formentera
Patagonia Lithium's latest Nuclear Magnetic Resonance survey at its Formentera project reveals exceptional porosity and lithium concentrations, reinforcing confidence in its maiden resource estimate.
- Maximum porosity of 41% and specific yield of 28% recorded
- Average porosity and specific yield align with maiden resource assumptions
- Three aquifer zones identified with a substantial 205m thick aquifer
- Lithium assays increase with depth, reaching up to 421ppm
- Data supports upcoming updated Mineral Resource Estimate
Strong Porosity Metrics Confirm Aquifer Potential
Patagonia Lithium Ltd (ASX:PL3) has reported compelling results from a Nuclear Magnetic Resonance (NMR) survey conducted on borehole JAM 24-03 at its Formentera Lithium Brine Project in Argentina. The survey revealed a maximum total porosity of 41% and a specific yield of 28%, with average values of 22% and 12% respectively. These figures are consistent with the parameters used in the company’s maiden Mineral Resource Estimate, underscoring the quality of the reservoir.
Three Distinct Aquifer Zones Identified
The NMR data delineated three aquifer zones within the well, with the most significant aquifer extending over 205 metres from 101m to 306m depth. This zone exhibited the highest specific yield averaging 15%, indicating excellent potential for brine extraction. The presence of such a thick, high-yield aquifer bodes well for the project’s future development and resource expansion.
Lithium Concentrations Increase with Depth
Complementing the porosity data, lithium assays from the well showed increasing concentrations with depth, reaching up to 421 parts per million (ppm). These assay results, conducted by reputable laboratories Alex Stewart and SGS, confirm the presence of high-grade lithium brines within the aquifer zones. The combination of high porosity and lithium grades strengthens the economic case for the Formentera project.
Robust Methodology and Quality Controls
The drilling and sampling adhered to industry best practices, including diamond core drilling with over 95% recovery, rigorous QA/QC protocols, and independent verification by a Competent Person. The company also confirmed no material changes to the assumptions underpinning its existing Mineral Resource Estimate, which currently stands at 717,000 tonnes of lithium metal equivalent in situ.
Looking Ahead to Resource Update
Patagonia Lithium is preparing an updated Mineral Resource calculation incorporating the new NMR porosity data, with WSP Australia engaged to complete the block model update. Executive Chairman Phillip Thomas highlighted the significance of the results, noting the outstanding depth and quality of the aquifer. Investors will be watching closely for the forthcoming resource update, which could further validate the project’s potential within the lithium triangle.
Bottom Line?
Patagonia Lithium’s robust porosity and lithium assay results set the stage for a pivotal resource update that could reshape its project outlook.
Questions in the middle?
- How will the updated Mineral Resource Estimate affect project valuation and development timelines?
- What are the implications of the thick aquifer zone for future extraction and processing costs?
- Could further drilling reveal additional high-grade lithium zones beyond the current footprint?
