# PL3: Quarterly Activities and Cashflow Report 30 September 2026

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/pl3-quarterly-activities-and-cashflow-report-30-september-2026--592754de-ee94-42c6-9e07-136488390c5d

Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03155496

Publisher: asx

Original announcement: 2026-10-21T21:23:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: 2026-10-21T22:40:39.615Z

Atlas analysis updated: 2026-10-21T22:40:39.615Z

- Company: Patagonia Lithium Limited

- Ticker: PL3

- Exchange: ASX

- Region: Argentina

- Primary commodity: Lithium

- Secondary commodities: Rare earth elements, Niobium

- Document categories: Drill results, Capital raise, Other, Resource update

- Extracted: 2026-10-21 22:40:40 UTC

Narrative sentiment: 0.60 · Bullish

## Minestarters Atlas summary

Patagonia Lithium Limited reported positive drilling and pump test results from Well 8 at its Cilon lithium project in Argentina, with packer assays up to 232 mg/L Li and strong flow rates. While Well 9 was a disappointing infill hole, all data has been submitted for an updated Mineral Resource Estimate. The company also successfully completed two capital raises totaling $11.4 million and identified new rare earth and niobium targets in Brazil.

Reasoning: The report details positive lithium grades and strong pump test performance from Well 8 at the Cilon project, supporting the upcoming MRE update. The company also secured significant funding through capital raises, although Well 9 was a disappointing infill hole.

- Positive factor: High lithium grades in Well 8 packer tests

- Positive factor: Strong pump test results from Well 8 \(high flow rate, fast recovery\)

- Positive factor: Successful capital raises providing significant funding

- Positive factor: Progress towards an updated Mineral Resource Estimate

- Positive factor: Identification of new REE/Niobium targets in Brazil

- Negative factor: Well 9 described as a disappointing infill hole with low flow rate

- Negative factor: Some packer tests in Well 8 were unsuccessful

- Negative factor: No new field work completed in Brazil this quarter

Facts used in scoring: 16

## Classification and evidence

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: The release mentions core recovery rates and plans for core sample assessment and correlation with BMR data.

Evidence · text

> Core recovery was reported as above 95%.

**Inferred Resource**

Polarity: negative

Story-specific tag

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: The restated MRE includes a significant Inferred component \(536,600 t LCE\).

Evidence · text

> 536,600t LCE @ 292mg/L Inferred MRE

**Historical Estimate Only**

Polarity: negative

Story-specific tag

Definition: Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling.

Why it applies: The resource estimate is a restatement of a prior MRE from July 2025, not a new estimate.

Evidence · text

> Existing MRE \(14 Jul 2025\): 551,400 t LCE at 294 mg/L

**QP/CP Signed**

Polarity: positive

Story-specific tag

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: The company confirms that the Competent Person’s findings are presented without material modification, implying sign-off.

Evidence · text

> The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcements.

## Extracted facts

Stored fact records: 13. Some facts used in scoring do not have a stored record.

## Drill Results (10)

### JAM 26-08

[Link to this fact](https://atlas-staging.minestarters.com/news/pl3-quarterly-activities-and-cashflow-report-30-september-2026--592754de-ee94-42c6-9e07-136488390c5d#fact-drill-facts-0)

Cilon · lithium

#### Identity

- Hole ID: JAM 26-08
- Project: Cilon
- Commodity: lithium
- Region: argentina
- Reported Region: argentina
- Ticker: PL3

#### Geometry

- Grade: 104
- Grade Unit: mg/L
- Intercept: 8 m
- From: 66 m
- To: 74 m
- Hole Depth: 485 m
- Intercept Depth: 66 m

#### Classification

- Sample Type: drill
- Group ID: JAM 26-08:66-74

#### QA/QC

- QP Signed: No
- QA/QC Methods: standards

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This packer test result from Well 8 shows a lithium grade above the project's average, contributing positively to the understanding of the Cilon project.

- Positive factor: Lithium grade above project average

Evidence · table

> 104

Context: 66–74

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### JAM 26-08

[Link to this fact](https://atlas-staging.minestarters.com/news/pl3-quarterly-activities-and-cashflow-report-30-september-2026--592754de-ee94-42c6-9e07-136488390c5d#fact-drill-facts-1)

Cilon · lithium

#### Identity

- Hole ID: JAM 26-08
- Project: Cilon
- Commodity: lithium
- Region: argentina
- Reported Region: argentina
- Ticker: PL3

#### Geometry

- Grade: 126
- Grade Unit: mg/L
- Intercept: 8 m
- From: 108 m
- To: 116 m
- Hole Depth: 485 m
- Intercept Depth: 66 m

#### Classification

- Sample Type: drill
- Group ID: JAM 26-08:108-116

#### QA/QC

- QP Signed: No
- QA/QC Methods: standards

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This packer test result from Well 8 shows a lithium grade above the project's average, indicating consistent mineralization at depth.

- Positive factor: Lithium grade above project average

Evidence · table

> 126

Context: 108–116

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### JAM 26-08

[Link to this fact](https://atlas-staging.minestarters.com/news/pl3-quarterly-activities-and-cashflow-report-30-september-2026--592754de-ee94-42c6-9e07-136488390c5d#fact-drill-facts-2)

Cilon · lithium

#### Identity

- Hole ID: JAM 26-08
- Project: Cilon
- Commodity: lithium
- Region: argentina
- Reported Region: argentina
- Ticker: PL3

#### Geometry

- Grade: 134
- Grade Unit: mg/L
- Intercept: 11 m
- From: 126 m
- To: 137 m
- Hole Depth: 485 m
- Intercept Depth: 66 m

#### Classification

- Sample Type: drill
- Group ID: JAM 26-08:126-137

#### QA/QC

- QP Signed: No
- QA/QC Methods: standards

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This packer test result from Well 8 shows a lithium grade above the project's average, contributing to the overall positive drilling results.

- Positive factor: Lithium grade above project average

Evidence · table

> 134

Context: 126–137

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### JAM 26-08

[Link to this fact](https://atlas-staging.minestarters.com/news/pl3-quarterly-activities-and-cashflow-report-30-september-2026--592754de-ee94-42c6-9e07-136488390c5d#fact-drill-facts-3)

Cilon · lithium

#### Identity

- Hole ID: JAM 26-08
- Project: Cilon
- Commodity: lithium
- Region: argentina
- Reported Region: argentina
- Ticker: PL3

#### Geometry

- Grade: 137
- Grade Unit: mg/L
- Intercept: 14 m
- From: 144 m
- To: 158 m
- Hole Depth: 485 m
- Intercept Depth: 66 m

#### Classification

- Sample Type: drill
- Group ID: JAM 26-08:144-158

#### QA/QC

- QP Signed: No
- QA/QC Methods: standards

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This packer test result from Well 8 shows a lithium grade above the project's average, indicating continued mineralization.

- Positive factor: Lithium grade above project average

Evidence · table

> 137

Context: 144–158

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### JAM 26-08

[Link to this fact](https://atlas-staging.minestarters.com/news/pl3-quarterly-activities-and-cashflow-report-30-september-2026--592754de-ee94-42c6-9e07-136488390c5d#fact-drill-facts-4)

Cilon · lithium

#### Identity

- Hole ID: JAM 26-08
- Project: Cilon
- Commodity: lithium
- Region: argentina
- Reported Region: argentina
- Ticker: PL3

#### Geometry

- Grade: 138
- Grade Unit: mg/L
- Intercept: 11 m
- From: 168 m
- To: 179 m
- Hole Depth: 485 m
- Intercept Depth: 66 m

#### Classification

- Sample Type: drill
- Group ID: JAM 26-08:168-179

#### QA/QC

- QP Signed: No
- QA/QC Methods: standards

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This packer test result from Well 8 shows a lithium grade above the project's average, adding to the positive drilling campaign.

- Positive factor: Lithium grade above project average

Evidence · table

> 138

Context: 168–179

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### JAM 26-08

[Link to this fact](https://atlas-staging.minestarters.com/news/pl3-quarterly-activities-and-cashflow-report-30-september-2026--592754de-ee94-42c6-9e07-136488390c5d#fact-drill-facts-5)

Cilon · lithium

#### Identity

- Hole ID: JAM 26-08
- Project: Cilon
- Commodity: lithium
- Region: argentina
- Reported Region: argentina
- Ticker: PL3

#### Geometry

- Grade: 163
- Grade Unit: mg/L
- Intercept: 14 m
- From: 186 m
- To: 200 m
- Hole Depth: 485 m
- Intercept Depth: 66 m

#### Classification

- Sample Type: drill
- Group ID: JAM 26-08:186-200

#### QA/QC

- QP Signed: No
- QA/QC Methods: standards

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This packer test result from Well 8 shows a lithium grade significantly above the project's average, indicating a higher-grade zone.

- Positive factor: Lithium grade significantly above project average

Evidence · table

> 163

Context: 186–200

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### JAM 26-08

[Link to this fact](https://atlas-staging.minestarters.com/news/pl3-quarterly-activities-and-cashflow-report-30-september-2026--592754de-ee94-42c6-9e07-136488390c5d#fact-drill-facts-6)

Cilon · lithium

#### Identity

- Hole ID: JAM 26-08
- Project: Cilon
- Commodity: lithium
- Region: argentina
- Reported Region: argentina
- Ticker: PL3

#### Geometry

- Grade: 194
- Grade Unit: mg/L
- Intercept: 14 m
- From: 243 m
- To: 257 m
- Hole Depth: 485 m
- Intercept Depth: 66 m

#### Classification

- Sample Type: drill
- Group ID: JAM 26-08:243-257

#### QA/QC

- QP Signed: No
- QA/QC Methods: standards

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This packer test result from Well 8 shows a lithium grade well above the project's average, indicating a strong mineralized zone.

- Positive factor: Lithium grade well above project average

Evidence · table

> 194

Context: 243–257

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### JAM 26-08

[Link to this fact](https://atlas-staging.minestarters.com/news/pl3-quarterly-activities-and-cashflow-report-30-september-2026--592754de-ee94-42c6-9e07-136488390c5d#fact-drill-facts-7)

Cilon · lithium

#### Identity

- Hole ID: JAM 26-08
- Project: Cilon
- Commodity: lithium
- Region: argentina
- Reported Region: argentina
- Ticker: PL3

#### Geometry

- Grade: 205
- Grade Unit: mg/L
- Intercept: 9 m
- From: 278 m
- To: 287 m
- Hole Depth: 485 m
- Intercept Depth: 66 m

#### Classification

- Sample Type: drill
- Group ID: JAM 26-08:278-287

#### QA/QC

- QP Signed: No
- QA/QC Methods: standards

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This packer test result from Well 8 shows a lithium grade significantly above the project's average, indicating a high-grade interval.

- Positive factor: Lithium grade significantly above project average

Evidence · table

> 205

Context: 287–278 \[sic\]

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### JAM 26-08

[Link to this fact](https://atlas-staging.minestarters.com/news/pl3-quarterly-activities-and-cashflow-report-30-september-2026--592754de-ee94-42c6-9e07-136488390c5d#fact-drill-facts-8)

Cilon · lithium

#### Identity

- Hole ID: JAM 26-08
- Project: Cilon
- Commodity: lithium
- Region: argentina
- Reported Region: argentina
- Ticker: PL3

#### Geometry

- Grade: 219
- Grade Unit: mg/L
- Intercept: 17 m
- From: 282 m
- To: 299 m
- Hole Depth: 485 m
- Intercept Depth: 66 m

#### Classification

- Sample Type: drill
- Group ID: JAM 26-08:282-299

#### QA/QC

- QP Signed: No
- QA/QC Methods: standards

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This packer test result from Well 8 shows a lithium grade significantly above the project's average, further confirming high-grade mineralization.

- Positive factor: Lithium grade significantly above project average

Evidence · table

> 219

Context: 282–299

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### JAM 26-08

[Link to this fact](https://atlas-staging.minestarters.com/news/pl3-quarterly-activities-and-cashflow-report-30-september-2026--592754de-ee94-42c6-9e07-136488390c5d#fact-drill-facts-9)

Cilon · lithium

#### Identity

- Hole ID: JAM 26-08
- Project: Cilon
- Commodity: lithium
- Region: argentina
- Reported Region: argentina
- Ticker: PL3

#### Geometry

- Grade: 232
- Grade Unit: mg/L
- Intercept: 17 m
- From: 303 m
- To: 320 m
- Hole Depth: 485 m
- Intercept Depth: 66 m

#### Classification

- Sample Type: drill
- Group ID: JAM 26-08:303-320

#### QA/QC

- QP Signed: No
- QA/QC Methods: standards

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This packer test result from Well 8 represents the highest lithium grade reported in the current drilling campaign, significantly exceeding the project's average grade.

- Positive factor: Highest lithium grade reported for Well 8

- Positive factor: Significantly above project average

Evidence · table

> 232

Context: 303–320

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

## Resource Estimates (3)

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/pl3-quarterly-activities-and-cashflow-report-30-september-2026--592754de-ee94-42c6-9e07-136488390c5d#fact-resource-facts-10)

Formentera · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Formentera
- Commodity: lithium
- Region: argentina
- Reported Region: Argentina
- Ticker: PL3

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:8115b8b9ec250815f404

#### Resource Data

- Category: indicated
- Tonnes: 14800
- Grade: 393
- Grade Unit: mg/L

#### Prior Estimate

- Resource Date: 2025-07-14

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-07-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This is a restatement of a prior Indicated Mineral Resource Estimate, providing no new information but confirming previous figures.

Evidence · text

> 14,800t LCE @ 393mg/L Indicated MRE

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**JORC Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/pl3-quarterly-activities-and-cashflow-report-30-september-2026--592754de-ee94-42c6-9e07-136488390c5d#fact-resource-facts-11)

Formentera · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Formentera
- Commodity: lithium
- Region: argentina
- Reported Region: Argentina
- Ticker: PL3

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:0007c91892a24107c680

#### Resource Data

- Category: inferred
- Tonnes: 536600
- Grade: 292
- Grade Unit: mg/L

#### Prior Estimate

- Resource Date: 2025-07-14

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-07-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This is a restatement of a prior Inferred Mineral Resource Estimate, providing no new information but confirming previous figures.

Evidence · text

> 536,600t LCE @ 292mg/L Inferred MRE

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**JORC Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/pl3-quarterly-activities-and-cashflow-report-30-september-2026--592754de-ee94-42c6-9e07-136488390c5d#fact-resource-facts-12)

Formentera · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Formentera
- Commodity: lithium
- Region: argentina
- Reported Region: Argentina
- Ticker: PL3

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:41caedf13e246e6a93e7

#### Resource Data

- Category: inferred
- Tonnes: 551400
- Grade: 294
- Grade Unit: mg/L

#### Prior Estimate

- Resource Date: 2025-07-14

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-07-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-21T00:00:00.000Z

Reasoning: This is a restatement of the total prior Mineral Resource Estimate, providing no new information but confirming previous figures.

Evidence · text

> 551,400t LCE at 294 mg/L

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**JORC Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.
