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Patagonia Lithium Ltd (ASX:PL3)

ALERT: Price-sensitive ASX Announcement for PL3
Current share price for PL3 : $0.135 0.01 (8%)+
Announcement
Release
17 Jul 2026 8:22AM
Price at Release
$0.125
Full Release
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Summary
Patagonia Lithium Ltd is making significant progress with its drilling operations at Cilon Well 8, part of the Formentera/Cilon Lithium Project in Jujuy Province, Argentina. The project aims to extract lithium brine, and current drilling has reached 200 meters, targeting a total depth of 600 meters. Positive results have been recorded from field packer tests, which are crucial for assessing lithium concentrations. The company's operations utilize advanced technology to ensure accurate and representative sampling. Further tests, including a planned 72-hour pump test, will contribute to an updated Mineral Resource Estimate.
Key Points
  • Patagonia Lithium Ltd is actively engaged in drilling activities at its Cilon Well 8 site.
  • The well is located in Cilon, Jujuy Province, Argentina, part of the Formentera/Cilon Lithium Project.
  • Current drilling at Cilon Well 8 has reached a depth of 200 meters, with a target depth of 600 meters.
  • The project is focused on lithium brine extraction, with tests indicating positive lithium concentrations.
  • The company has reported successful field packer tests with encouraging results for lithium extraction.
  • Porosity and transmissivity of the surrounding sands and clays affect brine inflow and lithium characteristics.
  • The drilling operations are conducted with the use of advanced technology and methodologies to ensure sample representativity.
  • A Mineral Resource Estimate update is planned following further tests, including a 72-hour pump test.
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.