Patagonia Lithium (ASX:PL3) is planning on upgrading the resource estimate for the Formentera Lithium Brine Project in Argentina, after conducting three borehole nuclear magnetic porosity tests.
Three wells are being surveyed to determine the porosity at millimetre intervals to the end depth of each well. Well one recorded a lithium concentration of 580 parts per million (ppm) lithium.
Executive Chairman Phillip Thomas says these results will have a substantial implication for the mineral resource calculation update.
“This work is very strategic for the company and lays the foundation for production hydrology,” Thomas says.
“The specific yield value is the drainable value which in well two was excellent at average 13% with a maximum of 50%.”
Patagonia plans to also focus on arranging a drill crew and rig to drill the 600m well five at Cilon near the 1,122ppm surface sample that was recorded.
Upon completion, the company will finalise the permit for the 1,000 tonne Ekosolve direct lithium extraction plant, as well as drill a production well between wells one and two with a target to pump one megalitre of brine per day.
Further, the company will finalise the waste brine disposal in the lagoon and evaporation area.
The Formentera Project, prospective for lithium and borates, is located in the Jujuy province of Argentina. The project covers 1,752 hectares and is in the same regional area as the Jama salar.
Write to Aaliyah Rogan at Mining.com.au
Images: Patagonia Lithium
