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Patagonia Lithium Ltd (ASX:PL3)

ALERT: Price-sensitive ASX Announcement for PL3
Current share price for PL3 : $0.100 -0.025 (-20%)+
Announcement
Release
27 Jul 2026 9:09AM
Price at Release
$0.125
Full Release
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Summary
Patagonia Lithium Ltd is advancing its lithium exploration efforts with significant progress at its Cilon Well 8, where drilling reached a depth of 257 meters. The company reported outstanding packer flow rates, with one interval flowing at 705 liters per hour, and an increase in specific gravity to 1.074 gm/cm3, which is beneficial for lithium concentration. The target zone for lithium concentration spans from 250m to 400m+. The failure of certain packer tests acts as a natural cap, helping to concentrate lithium. Patagonia Lithium, listed on the ASX under PL3, continues its exploration activities in Argentina and Brazil with two major projects and additional exploration for rare earth elements and other minerals.
Key Points
  • Patagonia Lithium Ltd is focused on exploration and development of lithium brine projects.
  • The company has encountered outstanding packer flow rates at Cilon Well 8, with drilling down to 257 meters.
  • Packer test flow rates at Cilon Well 8 reached up to 705 liters per hour.
  • Specific gravity increased to 1.074 gm/cm3, indicating increased total dissolved solids beneficial for lithium concentration.
  • The main zone of interest is between 250m to 400m+ where lithium concentration is likely highest.
  • The 7th and 8th packer tests failed, providing a cap for the aquifer to concentrate lithium.
  • The aquifer is described as having high porosity with well-sorted sands.
  • Patagonia Lithium is listed on the ASX under the code PL3.
  • The company is involved in two major projects in Argentina and exploration in Brazil for lithium and other minerals.
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.