Patagonia Lithium has reported lithium assay results up to 412ppm from its Formentera well, surpassing the project average and setting the stage for an updated Mineral Resource Estimate and further drilling.
- Formentera well JAM 26-06 assays up to 412ppm lithium
- 72-hour pump test underway to assess hydrological flow
- Upcoming drilling of well JAM 26-07 targeting 600m depth
- Seismic and gamma porosity surveys planned to enhance geological understanding
- Environmental report updated and submitted to Jujuy Ministry of Mining
Strong Lithium Grades from Formentera Well
Patagonia Lithium Ltd (ASX:PL3) has announced promising assay results from its Formentera concession in Argentina’s Salar de Jama, with lithium concentrations reaching 412ppm at depths between 405 and 416 metres. This figure notably exceeds the project’s average lithium grade of 296ppm, reinforcing the potential of the lithium brine deposit.
The assays were derived from ten packer brine samples taken from depths spanning 96 to 488 metres and analysed by independent laboratories Alex Stewart and SGS. While SGS results are still pending, the initial data provides a robust indication of the deposit’s quality.
Advancing Hydrological Testing and Drilling Plans
To better understand the well’s flow capacity, Patagonia Lithium is preparing a 72-hour pump test, which will evaluate the hydrological characteristics of the aquifer. Early indications suggest high porosity and transmissivity, which are favourable for lithium extraction.
Meanwhile, the company is readying to drill well JAM 26-07, located nearly two kilometres west of the current well, with a target depth of 600 metres. This step is critical to confirming lateral extensions of the lithium-bearing aquifers suggested by magnetotelluric (MT) geophysical surveys.
Supporting Geological and Environmental Work
Complementing the drilling activities, Patagonia Lithium has extended its seismic survey to 7 kilometres and will soon commence a gamma porosity survey conducted by Zelandez. These geophysical efforts aim to refine the geological model and improve resource estimation accuracy.
On the environmental front, the company has completed a comprehensive 165-page update to its Environmental Report, which has been submitted to the Ministry of Mining in Jujuy province. This update includes oxygen isotope and hydrogen analyses that help define the origin and evolution of the subterranean waters and lithium brines.
Outlook and Next Steps
Executive Chairman Phillip Thomas expressed confidence in the project’s trajectory, highlighting the significance of the new assay results and the forthcoming data from the pump test and additional drilling. The company anticipates that these developments will underpin an updated Mineral Resource Estimate and pave the way for a scoping study to assess economic viability.
Patagonia Lithium’s strategic focus on the Formentera/Cilon lithium brine project, alongside its Tomas III project in Argentina and exploration concessions in Brazil, positions it well within the lithium triangle, a globally recognised lithium hotspot.
Bottom Line?
With high-grade assays and critical hydrological tests underway, Patagonia Lithium is poised to sharpen its resource profile and advance towards commercialisation.
Questions in the middle?
- What will the 72-hour pump test reveal about the aquifer’s sustainable flow rates?
- How will the upcoming well JAM 26-07 assays compare to the current high-grade results?
- When can investors expect the updated Mineral Resource Estimate and scoping study?