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Patagonia Lithium Ltd (ASX:PL3)

ALERT: Price-sensitive ASX Announcement for PL3
Current share price for PL3 : $0.170 0.074 (77.08%)+
Announcement
Release
19 Aug 2026 9:09AM
Price at Release
$0.096
Full Release
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Summary
Patagonia Lithium Ltd has successfully completed porosity tests on Well 7, revealing a lithium concentration of 270ppm at 310 meters depth, slightly below the project's average. The well's porosity exceeded expectations, highlighting a sandy zone with a specific yield between 16% and 34%, which is beneficial for pumping efficiency. Out of eighteen packer tests conducted, nine were successful. The company plans to drill Well 9 to address a 2km x 3km area pending regulatory approval.
Key Points
  • Patagonia Lithium Ltd announced the completion of core sample porosity tests for Well 7.
  • Well 7 recorded a lithium concentration of 270ppm at 310m depth.
  • The porosity of the well exceeded expectations, enhancing lithium availability.
  • A significant sandy zone with a high specific yield was identified, aiding in efficient pumping.
  • Nine out of eighteen packer tests were successful.
  • Future plans include drilling Well 9 pending approval.
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.