Top 5 Australian Mining Stocks This Week: Patagonia Lithium Powers on Stronger Lithium Interest

Market and commodities price round-up

The S&P/ASX 200 (INDEXASX:XJO) opened at 8,569.60 on Monday (March 16) and closed at 8,497.80 on Thursday (March 19), reflecting a 0.84 percent decrease over the period.

Gold and silver prices both fell this week. In US dollars, gold decreased 3.3 percent from US$5,018.75 on Monday to US$4,853.13 by Thursday's close of Australian markets. A larger 4.13 percent drop was seen in Australian dollars, with gold moving from AU$7,189.41 to AU$6,892.82.

Silver dipped 5.72 percent in US dollars from US$80.63 on Monday to US$76.02 on Thursday. In Australian dollars, the metal lowered 6.51 percent from AU$115.50 to AU$107.98.

Top ASX mining stocks this week

How did ASX mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Australian mining stocks below as the Investing News Network breaks down their operations and why these companies are up this week.

Stocks data for this article was retrieved at 4:10 p.m. AEDT on Thursday using TradingView's stock screener and reflects price movements between Monday and Thursday. Only companies trading on the ASX with market capitalisations greater than AU$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. Patagonia Lithium (ASX:PL3)

Weekly gain: 32.14 percent
Market cap: AU$37.27 million
Share price: AU$0.185

Patagonia Lithium is a junior explorer focused on the Lithium Triangle in Argentina’s Salta and Jujuy provinces, where it owns the Formentera, Cilon and Tomas III projects.

The company also has projects in Brazil, with exploration concession packages for ionic REE clays, niobium, antimony and lithium in pegmatites.

While Patagonia Lithium did not release any updates this week, its February corporate presentation outlined ongoing work at its Formentera lithium brine project, including pump testing and multiple surveys.

It is also submitting its application for a 1,000 tonne capacity direct lithium extraction demonstration plant using Ekosolve technology. Pilot plant tests achieved recovery rates above 92 percent.

Global interest in lithium projects has strengthened in 2026 as prices rebound from last year’s lows. Lithium carbonate prices have doubled year-on-year, driven by demand from the energy storage and electric vehicle sectors.

After closing at AU$0.140 last week, shares of Patagonia Lithium climbed to a peak of AU$0.180 on Thursday.

2. Jade Gas Holdings (ASX:JGH)

Weekly gain: 26.09 percent
Market cap: AU$49.66 million
Share price: AU$0.029

Jade Gas Holdings is a company focused on exploring and developing coal bed methane gas assets in Mongolia.

The company’s flagship project is the Tavantolgoi XXXII unconventional gas project, located in the South Gobi Basin. The permit area is positioned to supply Mongolia’s growing domestic energy demand with clean energy.

At the start of March, Jade Gas announced the completion of its appraisal program at Tavantolgoi XXXII. The company reported that its work delineated a gas resource and confirmed the project’s commercial potential.

If its maiden gas reserve booking submission is approved, Jade Gas can then submit its plan for development of operations.

Shares of Jade Gas Holdings closed at AU$0.023 last Friday and rose to AU$0.026 Monday as concerns about natural gas supply heighten due to the war in the Middle East. Its share price reached this week’s peak of AU$0.029 on Thursday.

3. Estrella Resources (ASX:ESR)

Weekly gain: 22.22 percent
Market cap: AU$70.74 million
Share price: AU$0.033

Headquartered in Perth, Estrella Resources is focused on its limestone and manganese mineral assets in Timor-Leste, an island nation located north of Australia.

On Monday, Estrella reported the final assays from its latest drilling program at the Werumata limestone project.

Intervals of baucau limestone and batu putih chalk measured up to 87 and 59 metres respectively, with both averaging 30 metres. The results will be used for defining a mineral resource, which the company expects to release by mid-April.

That same day, the company also published its half-year financial report, outlining extensive exploration activities at its Ira Miri manganese project during the second half of 2025. Drilling at the site intercepted broad high-grade intervals including 11.97 metres grading 28.9 percent manganese and 8.05 metres grading 53 percent.

As of now, extraction of up to 30,000 tonnes of manganese oxide is underway, which will be used as "material for sale, export and testing with potential future long-term offtake partners."

Shares of Estrella Resources closed last week at AU$0.027 and climbed significantly during the week to AU$0.033 on Thursday.

4. Pancontinental Energy (ASX:PCL)

Weekly gain: 22.22 percent
Market cap: AU$82.86 million
Share price: AU$0.011

Pancontinental Energy is a West Perth-based company with offshore petroleum projects in Namibia. Its main focus is the PEL 87 offshore exploration licence in the Orange Basin, in which it holds a 75 percent operating interest.

On Tuesday, Pancontinental requested a trading halt pending the release of material news.

The following day, Wednesday, Pancontinental announced that it had received an extension approval for PEL 87.

The company said the extension provides additional time to progress technical work and advance exploration activities in the region.

"We are pleased to have now confirmed ongoing tenure for PEL 87, which allows us to continue to focus on securing a farm-in partner in order to progress the project through to drilling at the earliest opportunity,” CEO Iain Smith commented.

After closing at AU$0.009 last week, shares of the company pulled back to AU$0.0085 Monday and then climbed to a peak of AU$0.011 on Thursday.

5. Thor Energy (ASX:THR)

Weekly gain: 20 percent
Market cap: AU$10.69 million
Share price: AU$0.012

Thor Energy is focused on its HY-Range hydrogen and helium project in South Australia. It also holds the Wedding Bell and Radium Mountain uranium projects in Colorado, US.

Thor expanded its hydrogen and helium assets late last month when it was awarded two exploration licences in South Australia's Otway Basin.

On Tuesday, Thor announced the completion of a three month geophysical survey at its HY-Range project designed to build on results from Phase 1, which "recorded highly elevated natural hydrogen up to 3,000 parts per million, or approximately 6,000 times the normal background value, along with helium anomalies," the report states.

"We have successfully delivered all our goals, effectively eliminating the risk of man-made contamination, refining our techniques and optimising increased data volume and fidelity," Managing Director Andrew Hume said.

Preliminary data analysis is underway and the company expects to release results in the weeks ahead.

After closing last week and opening this week at AU$0.010, shares of Thor Energy rose to AU$0.012 on Thursday.