Patagonia Lithium (ASX:PL3) High lithium porosity results achieved from well two Formentera
16 September 2024
Price Sensitive Announcement $
Overview:
Patagonia Lithium Ltd has announced the receipt of Core Laboratories porosity analysis that shows very high porosity values of more than 25% of contained lithium brines in the sediments from well two. This critical information will be used to calculate the upcoming mineral resource estimate. The Company is preparing to drill well 4.
The effective porosity at depth returned exceptional results with values ranging from 27.0% to 31.2% in the aquifer zone that supports the directors’ view that the production wells will perform.
Highlights:
- Six core samples tested from well Two had outstanding total porosity values from 26%-33% – at the top of the range of expected porosity for brine projects.
- Well two recorded 582ppm Lithium from assay packer sample A28 in aquifer zone a confirmed high lithium assay at Formentera Lithium Project, Northern Argentina
- Core analysis showing high porosity from 90m to 347m
- Porosity tests show aquifer interval more than 160m in depth
- EOH 347m but open at depth – high conductivity shows 1,500m depth
- 48hour pump test commenced to calculate brine release and recovery in well
Company Notes:
Phillip Thomas, Executive Chairman commented “These results are in line with the very positive trend of 25% plus porosity and 500ppm lithium over a substantial aquifer interval. These high porosity results support our production plan and will be incorporated into our Production Environmental Impact Plan submission for a demonstration plant later this year. A 48 hour pump test will commence shortly to further validate the project on the western side of the claim. Works have commenced building the drill pad for well 4 and drilling is expected to commence at the end of the week.”
Full Company Announcement: 3A650642.pdf (discoveryalert.com.au)
