Overview of Patagonia Lithium's recent concession grant

Patagonia Lithium Ltd (ASX: $PL3) has been granted exploration rights for three years in the Goiás state, covering 3,262 hectares adjacent to the CMOC niobium mine. The area is a high priority target for rare earth elements (REE) in ionic clays or carbonatites. The company is set to commence a soils and stream sampling program soon.

Executive commentary on the recent concession grant

Phillip Thomas, Executive Chairman of Patagonia Lithium, expressed excitement about the company's exploration for rare earth elements, particularly in the proximity to the Catalão rare earth deposit. He highlighted the significance of being in the right area, as indicated by the geophysics work completed. Thomas emphasized the target minerals, such as monazite, xenothermite, and bastnasite in ionic clays, and the company's focus on soil sampling and mapping to solidify drill targets.

Summary of the recent concession grant and outlook

Patagonia Lithium (ASX: $PL3) has secured exploration rights for a high priority rare earth elements (REE) area in Goiás state, Brazil. The company is gearing up for a comprehensive soil and rock chip sampling program, along with mapping faults at the concession area. The proximity to the Catalão rare earth deposit adds to the excitement, and the company aims to leverage the geophysics data to identify potential drill targets. With a focus on targeting minerals like monazite, xenothermite, and bastnasite, Patagonia Lithium is optimistic about the prospects in this region and remains committed to its exploration endeavors.