Mining

Patagonia Lithium confirms high lithium content at Formentera Project

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Patagonia Lithium (ASX:PL3) announced the selection and dispatch of five cores for detailed porosity testing at Core Laboratories in Western Australia.

This is a significant step in the ongoing assessment of the Formentera Lithium Project located in Northern Argentina.

The company reported a lithium assay of 470ppm from packer sample 37A (279m-284m) within an aquifer zone, indicative of high lithium content in the area.

Extensive tests, including a 72-hour pump yielding 187,000 litres from well JAM 24-03, revealed diamond drill cores exhibiting high porosity from depths of 90m to 376m.

"These cores contain sand and quartz gravel and reflect the high porosity geology in the Paso basin. One of the critical factors in lithium production is to have high porosity and ideally sands with high pore values and high connectivity. Examination of the sections in the field demonstrates these qualities," stated Phillip Thomas, Executive Chairman of Patagonia Lithium.

Patagonia's Formentera Project has demonstrated encouraging results, with surface sampling and geophysics indicating promising lithium values.

Current drilling at well JAM 24-10 (well 4) continues, building on the findings with the development of a mineral resource estimate in sight.

Patagonia Lithium continues to explore the potential within the famed lithium triangle, pursuing further drilling and testing to solidify its resource estimates.

These efforts align with the company's objective to capitalise on the global demand for lithium, a key component in the rechargeable battery sector and electric vehicle industry.

At the time of reporting, Patagonia Lithium’s share price was $0.075.

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