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Patagonia Lithium Ltd (ASX:PL3)

ALERT: Price-sensitive ASX Announcement for PL3
Current share price for PL3 : $0.115 0.025 (27.78%)+
Announcement
Release
8 Jul 2026 9:47AM
Price at Release
$0.090
Full Release
download
Summary
Patagonia Lithium Ltd announced positive progress at their Cilon Lithium Well 8, with 116 meters of drilling completed and a successful initial packer test indicating high specific gravity brines, suggesting lithium potential. The company is targeting a total depth of 600 meters and is conducting further tests to confirm lithium presence. Patagonia Lithium operates significant lithium brine projects in Argentina, within the lithium triangle, and Brazil, as part of its exploration initiatives.
Key Points
  • Patagonia Lithium Ltd has made positive drilling progress at Cilon Lithium Well 8.
  • The company completed 116 meters of drilling with a successful packer test at 70m depth.
  • High specific gravity brines were encountered, indicating potential lithium presence.
  • The drilling achieved a rate of 36 meters per 24 hours.
  • Next packer test planned between 120-125 meters depth.
  • The well's target depth is 600 meters.
  • Patagonia Lithium Ltd is exploring lithium brine projects in Argentina and Brazil.
  • The Formentera/Cilon project covers 19,500 hectares in the lithium triangle of Argentina.
  • The project has shown promising lithium assay results in past drilling.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.