Formentera Well JAM24-04 Shows 40% Porosity and Rising Lithium Concentrations

Exceptional Porosity Results at Formentera

Patagonia Lithium Ltd (ASX:PL3) has released compelling new data from its Formentera Lithium Brine Project in Argentina, highlighting outstanding Nuclear Magnetic Resonance (NMR) porosity and specific yield measurements from well JAM24-04. Drilled to a depth of 401.5 meters, the well exhibited a maximum porosity of 40% and an average specific yield of 9%, figures that significantly surpass the values used in the company’s maiden Mineral Resource Estimate.

The NMR survey delineated four brine zones, each characterized by increasing conductivity with depth, indicating a complex but highly prospective lithium-bearing aquifer system. Notably, zones below 87.45 meters demonstrated strong vertical continuity in specific yield and total porosity, with average porosity values ranging from 23% to 31% across these zones. Despite the presence of a clay layer between 175 and 225 meters, the drainable water content remained robust at approximately 9%.

Implications for Lithium Extraction and Resource Estimation

Executive Chairman Phillip Thomas emphasized the significance of these results, noting that the sustained pump rates of 3,500 liters per hour combined with high porosity confirm the project’s viability. The specific yield (SY) values, representing the drainable water content, averaged 9% with peaks up to 40%, underscoring the aquifer’s capacity to support efficient lithium extraction.

Complementing the porosity data, lithium assays from well JAM24-04 revealed increasing lithium concentrations with depth, with values exceeding 100 ppm in several intervals. This aligns well with the company’s planned deployment of the Ekosolve™ Direct Lithium Extraction system, which is designed to efficiently extract lithium from brines with concentrations above this threshold.

Strategic Positioning within the Lithium Triangle

Located in the Jujuy Province within Argentina’s renowned Lithium Triangle, the Formentera project benefits from a geological setting conducive to high-quality lithium brine deposits. Patagonia Lithium’s broader portfolio also includes the Cilon and Tomas III projects, with ongoing exploration and drilling programs aimed at expanding resource definitions and advancing towards production.

The company has engaged WSP Australia to update the Mineral Resource Estimate incorporating the new data from wells JAM24-03 and JAM24-04. This resource upgrade is anticipated to provide a more accurate and potentially enhanced valuation of the lithium assets, reflecting the superior porosity and lithium grades now documented.

Looking Ahead

Patagonia Lithium’s recent drilling and assay results mark a pivotal step in validating the Formentera project’s commercial potential. The combination of high porosity, favorable specific yield, and lithium concentrations suitable for direct extraction technology positions the company well within the competitive lithium brine sector. Upcoming milestones include the completion of the resource upgrade, further drilling campaigns, and the establishment of a lithium carbonate demonstration plant, all of which will be closely watched by investors and industry observers.