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Patagonia Lithium Ltd (ASX:PL3)

ALERT: Price-sensitive ASX Announcement for PL3
Current share price for PL3 : $0.096 -0.039 (-28.89%)+
Announcement
Release
3 Aug 2026 9:24AM
Price at Release
$0.135
Full Release
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Summary
Patagonia Lithium Ltd has presented an interim progress report on its ongoing Mineral Resource Estimate, with significant contributions from Atacama Water Consultants. The report analyzes data from seven wells, using lithology correlations and passive seismic data among other metrics. The previous estimate outlined a resource of 3.814 million tonnes LCE, with expectations for additional data from a new well to further refine the estimate. Executive Chairman Phil Thomas emphasized the value of the work in identifying high lithium assays in aquifers, which are critical to the company’s production goals in Argentina and exploration efforts in Brazil.
Key Points
  • Patagonia Lithium Ltd has released an interim progress report for its Mineral Resource Estimate.
  • The report includes data from seven wells, including lithology correlations, passive seismic data, specific gravity, and porosity data.
  • A previous Mineral Resource Estimate indicated a maiden resource of 3.814 million tonnes of lithium carbonate equivalent (LCE) and a drainable 0.551 million tonnes.
  • The company anticipates new data from an eighth well, currently at a depth of 362 meters, to complete the Mineral Resource Estimate.
  • Phil Thomas, the Executive Chairman, highlights the significance of the work done by Atacama Water Consultants in correlating porous sand units and interpreting passive seismic data.
  • The aquifer between 250m and 400m depth is where lithium assays are highest, with porosity over 10%, double that of nearby major salars.
  • Eight major geological units have been identified, including clastic-evaporitic sedimentary infill and interbedded volcaniclastic sequences.
  • The company is also involved in exploration activities in Brazil and Argentina within the lithium triangle.
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.