Key highlights of Patagonia Lithium's achievement

Patagonia Lithium Ltd (ASX:PL3) has achieved strong results from well three at the Formentera Lithium Project in Northern Argentina. The company received high lithium assay results ranging from 336 to 470ppm, along with diamond drill core showing high porosity from 90m to 376m. The porosity/packer tests revealed an aquifer interval of more than 218m in depth, with the well open at a depth showing high conductivity of 1,500m. Additionally, a 48-hour 72,0001 pump test has been completed, demonstrating very high sg of 1.18gm/cm3 and conductivity above 200us.

Executive commentary on the achievement

Phillip Thomas, Executive Chairman of Patagonia Lithium, commented, 'These results are in line with the very positive trend of Plus 400ppm lithium over a deep aquifer interval. It is encouraging to note the high porosity, with lithium values concentrating at depth. A 48-hour pump test will commence shortly to further validate the project in 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.'

Summary of Patagonia Lithium's achievement and outlook

Patagonia Lithium (ASX:PL3) has achieved significant milestones at the Formentera Lithium Project, Northern Argentina, with high lithium assay results and extensive porosity identified. The company's ongoing pump tests and drilling activities indicate a positive trajectory for the project. With the completion of well three and preparations for well four underway, Patagonia Lithium is poised to further validate and expand its lithium project. The company's exploration efforts and exceptional progress to date demonstrate its commitment to advancing its projects and exploring new concessions, positioning itself for potential growth and development in the lithium sector.