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Patagonia Lithium Ltd (ASX:PL3)

ALERT: Price-sensitive ASX Announcement for PL3
Current share price for PL3 : $0.105 -0.015 (-12.50%)+
Announcement
Release
21 Jul 2026 9:59AM
Price at Release
$0.120
Full Release
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Summary
Patagonia Lithium Ltd has released an update on their drilling progress at the Cilon Well 8, part of the Formentera/Cilon Lithium Project in Argentina. The drilling has reached a depth of 200 metres with six packer tests completed. The tests show a specific gravity range of 1.04-1.06, indicating the presence of total dissolved solids. The next testing phase will continue at deeper levels, aiming for a final depth of 600 metres. The company emphasizes that there has been no environmental impact from their activities. The drilling is part of a broader exploration effort in the lithium-rich region of the Salar de Jama, with the ultimate goal of increasing lithium carbonate mineral resource estimates.
Key Points
  • Drilling progress at Cilon Well 8 reached 200m depth.
  • Six packer tests completed with specific gravity range 1.04-1.06.
  • Next packer test planned at 210m depth.
  • No environmental impact reported.
  • Project part of Formentera/Cilon Lithium Project in Argentina.
  • Final drilling depth target is 600 metres.
  • Focus on increasing lithium carbonate mineral resource estimates.
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.