Skip to content
Oil Mining Resources

Initial Exploration in Goais State Completed in Brazil

Patagonia Lithium 2 mins read

Patagonia Lithium Ltd (ASX:PL3) is pleased to advise that it has completed the first phase of field exploration on our concessions in Goais state adjacent to the CMOC niobium mine and Catalão I Rare Earth Element (REE) complex.

The mica schists and shales with parallel planar lamination, clayey, associated with grey pelitic protolith were identified as possible host rocks. Mineralogy composed of phyllosilicates, mainly sericite, (which is an altered feldspar) fine-grained muscovite mica and quartz grains were evident as pathfinders.

The Company has allocated the samples taken for analysis as follows:

• X-ray diffraction for specific samples of the Araxa schists in order to understand the (fine) mineralogy and contained elements/minerals;

• Chemical analysis for ETR leached at the points sampled;

• Evaluation of the chemical assay results for REE in the metasomatic zone stipulated by geophysics and isovalues.

Phillip Thomas, Executive Chairman commented “Our local geological team has done a great job mapping and sampling and coming up with some highly prospective samples. They have been sent for assay and hopefully the pathfinder minerals will assist us locate a major deposit.”


About us:

Patagonia Lithium has two major lithium brine projects – Formentera/Cilon in Salar de Jama, Jujuy province and Tomas III at Incahuasi Salar in Salta Province of northern Argentina in the declared lithium triangle. It has also applied for 41,746 Ha of concessions exploring for ionic REE clays, Niobium, and lithium in pegmatites. Four exploration concession packages have been applied for. 830178/2024 has been granted. Since listing on 31 March 2023, recharge water analysis, surface sampling and MT geophysics have been completed in preparation of an upcoming drill program at Formentera, where the first well JAM 24-01 has been completed with MT Geophysics at Tomas III showing low resistivity and very prospective. In July 2023, a 13 hole drill program was submitted for approval which was granted in January 2024. Samples as high as 1,100ppm lithium (2 June 2023 announcement) were recorded at Formentera and resistivity values as low as 0.3Ω.m were recorded during the MT Geophysics survey at Formentera making the project highly prospective.

Media

More from this category

  • Finance Investment, Oil Mining Resources
  • 20/05/2024
  • 12:08
Amaero International Limited (ASX:3DA)

Amaero International Limited (ASX:3DA) – Atomiser On Schedule to Be Commissioned By 30 June

Installation and cold testing of atomiser completed. Hot testing has commenced and commissioning of atomiser is expected by 30 June. In conjunction with commissioning,…

  • Contains:
  • Finance Investment, Oil Mining Resources
  • 20/05/2024
  • 10:25
Victory Metals Limited (ASX:VTM)

Victory Metals Limited (ASX:VTM) – Oversubscribed $2.5M Placement to rapidly advance our 100% owned Heavy Rare Earth Element Project

Highlights Successful oversubscribed placement to raise an amount of $2,500,000 Proceeds to be utilised to further advance North Stanmore, Australia’s largest Heavy Rare Earth project situated adjacent to the Great Northern Highway in Cue, Western Australia Victory Metals Limited (ASX:VTM) (“Victory” or “the Company”) is pleased to announce it has received firm commitments from professional and sophisticated investors for a Placement to raise $2,500,000 (“Placement”) through the issue of 11,363,636 fully paid ordinary shares at $0.22 per share (“Placement Shares”). Victory’s Chief Executive Officer and Executive Director Brendan Clark commented: “The Placement provides a platform for the Company to continue…

  • Contains:
  • Finance Investment, Oil Mining Resources
  • 20/05/2024
  • 10:14
Galan Lithium Limited (ASX: GLN)

Galan Lithium Limited (ASX: GLN) – A$14 Million Capital Raise For Continued Ongoing Development of HMW Phase 1

Galan has received firm commitments to raise A$14 million at A$0.23 per share Strong support received from offshore and domestic institutional and sophisticated investors, with the Placement oversubscribed Funds will be used for the further development of the Hombre Muerto West lithium brine project (HMW) in Argentina, corporate overheads and working capital Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to announce that it has received firm commitments for an equity raising of A$14 million to institutional, sophisticated and professional investors (Placement) at A$0.23 per share. The equity raising will provide working capital headroom and financial flexibility…

  • Contains:

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.