Patagonia Lithium has reported robust porosity and lithium assay results from its Formentera Lithium Brine Project, reinforcing confidence in its maiden resource estimate. The recent Nuclear Magnetic Resonance survey highlights a substantial aquifer and promising lithium concentrations at depth.
- Maximum porosity of 41% and specific yield of 28% recorded
- Average porosity and specific yield align with maiden resource assumptions
- Three distinct aquifer zones identified over 205 metres depth
- Lithium assays show increasing concentrations with depth, peaking at 421ppm
- Data supports upcoming updated Mineral Resource Estimate
Strong Porosity Metrics Confirm Aquifer Potential
Patagonia Lithium Ltd (ASX – PL3) has released encouraging 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, providing tangible validation of the project's geological model.
Three Aquifer Zones Identified Over Significant Depth
The NMR survey delineated three aquifer zones within the borehole, spanning a combined depth of over 205 metres. The most prolific zone, between 101 and 306 metres, exhibited an average specific yield of 15% and excellent vertical continuity, indicating a substantial and potentially productive aquifer. This depth and porosity profile bode well for future extraction potential and resource expansion.
Lithium Concentrations Increase with Depth
Complementing the porosity data, lithium assays from the borehole show a clear upward trend in lithium concentration 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 increasing lithium values with depth align with the geological expectations for lithium brine deposits in the Salar de Jama region.
Supporting the Maiden Mineral Resource Estimate
Patagonia Lithium’s Executive Chairman, Phillip Thomas, emphasised the significance of these findings, noting that the porosity and specific yield results strongly support the maiden Mineral Resource Estimate of 717,000 tonnes of lithium metal equivalent. The data will feed into an updated resource calculation, expected to provide a more refined and potentially expanded resource base for the project.
Rigorous Sampling and Quality Controls
The drilling and sampling program adhered to industry best practices, including detailed geological logging, duplicate sampling, and independent laboratory verification. The company has maintained strict chain-of-custody protocols and quality assurance measures, ensuring the reliability of the data. These robust procedures underpin investor confidence in the reported results and the forthcoming resource update.
Bottom Line?
Patagonia Lithium’s latest porosity and lithium assay data set the stage for a pivotal resource update that could reshape its project’s valuation.
Questions in the middle?
- How will the updated Mineral Resource Estimate impact Patagonia Lithium’s project economics?
- Are there plans for further drilling to expand the identified aquifer zones laterally or at depth?
- What are the next steps in advancing the Formentera project towards feasibility and production?