Patagonia Lithium (ASX: PL3) is advancing its Formentera lithium brine project in Argentina, where drilling, pumping and geophysical work continue to build confidence in the resource. The project currently hosts a Mineral Resource Estimate of approximately 551,000 tonnes of lithium carbonate equivalent, with the recently completed eighth well returning 232ppm lithium and further drilling planned.
Executive Chairman Phil Thomas says the company is now working towards an updated Mineral Resource Estimate, followed by a scoping study and Bankable Feasibility Study. Patagonia is also progressing plans for production wells and a 1,000-tonne Ekosolve plant, with pilot testing achieving 92.1% lithium extraction efficiency and lithium carbonate purity of up to 99.94%.
Alongside Formentera, Patagonia is progressing exploration in Brazil, where it holds concessions covering 41,700 hectares targeting rare earth elements, lithium and niobium.
To hear more, watch the full presentation from Patagonia Lithium.
