Patagonia Lithium Hits 40% Core Porosity and 412ppm Lithium at Formentera Well Six

Exceptional Core Porosity Confirms Aquifer Potential

Patagonia Lithium Ltd (ASX:PL3) has unveiled compelling core porosity results from Well Six at its Formentera Lithium Brine Project in Argentina, with Relative Brine Release Capacity (RBRC) reaching a remarkable 40% at 160 metres depth. This figure not only surpasses the outstanding 6% threshold but also aligns with the BMR Gamma survey's average porosity of 22% over a 462-metre log, which peaked at 39%. The high porosity indicates a substantial volume of lithium-bearing brine within the aquifer, suggesting the potential to sustain larger pumping volumes and, by extension, support a bigger processing plant.

The well also recorded a lithium concentration of 412ppm, consistent with prior assay results released in March 2026, underscoring the quality of the brine resource. Executive Chair Phillip Thomas emphasised the significance of porosity alongside lithium concentration, stating, "Without porosity nothing comes out of the aquifer!" The encouraging pump rates from recent packer tests further validate these findings.

Continued Drilling and Testing at Formentera

Drilling at Well Seven (JAM 26-07) is underway, currently at 218 metres depth, with the sixth assay packer test recently completed. Results from this well, along with pending passive seismic surveys and the BMR gamma porosity survey, are expected to inform an updated Mineral Resource Estimate (MRE). Patagonia Lithium confirms there have been no material changes to the existing MRE, which currently stands at 551,400 tonnes of lithium carbonate equivalent (LCE), comprising 14,800 tonnes indicated and 536,600 tonnes inferred, based on a lithium concentration averaging 294mg/L.

The company's progress builds on a solid foundation of exploration, including previous drilling and geophysical surveys. The Formentera project benefits from a substantial aquifer zone of 222 metres, with vertical drilling proving effective in sampling the horizontal brine layers. The meticulous sampling and assay protocols, involving dual laboratories Alex Stewart and SGS, ensure data reliability and quality control.

Strategic Positioning in the Lithium Triangle

Patagonia Lithium's Formentera project is situated in the lithium triangle of northern Argentina, a globally significant lithium-producing region. The company holds two major lithium brine projects in Argentina and has exploration interests in Brazil targeting ionic rare earth element clays and lithium in pegmatites. The Formentera project’s high porosity and lithium assays reinforce its strategic value, particularly as the company advances environmental approvals and drilling, including at Well Seven, where recent packer tests have demonstrated strong aquifer flow rates.

This announcement complements earlier updates on environmental clearances and drilling progress, such as the recent environmental approvals and drilling progress and the strong packer test and environmental approval, which highlighted robust aquifer characteristics and community engagement efforts.