Latest Patagonia Lithium (ASX:PL3) News

Patagonia Lithium’s Well 7 delivers strong porosity alignment between core and gamma surveys, with lithium levels near project averages. Preparations for Well 8 pump testing advance, while plans for Well 9 await regulatory approval.

Patagonia Lithium’s Well 8 at the Cilon project hit basement at 485m, delivering promising lithium assays and robust brine flow rates. Plans for porosity testing and a 72-hour pump test are underway to refine resource estimates.

Patagonia Lithium has received an interim technical report confirming promising porosity and lithium assay results from seven wells, setting the stage for a final resource estimate after well eight completion.

Carnaby led the market after Evolution Mining agreed to a A$213 million takeover. Coal and lithium names fell despite major production and funding news.
Across materials, investors rewarded deals and cash flow, but punished large capital needs and weak price follow-through.

Patagonia Lithium (ASX:PL3) reported solid progress in its June quarter, hitting key milestones in drilling, pump testing, and resource modelling at its Argentine lithium brine projects, supported by a strong cash position following recent capital raises.

Patagonia Lithium's Well 8 at the Formentera/Cilon project in Argentina has delivered impressive packer test flow rates up to 705 L/hr at 257m depth, alongside rising specific gravity and total dissolved solids that hint at promising lithium concentrations.

Patagonia Lithium has reached 200 metres depth at Cilon Well 8, reporting strong brine flow rates and specific gravity readings indicative of lithium presence, while confirming no environmental impact from drilling activities.

Patagonia Lithium advances drilling at its Cilon project, achieving 200 metres depth with promising packer test results showing good aquifer strength and lithium brine characteristics. Environmental assessments confirm no impact, while further pump testing and resource updates are planned.

Patagonia Lithium has reached 38 metres in drilling Well 8 at its Cilon project in Argentina, with encouraging early core porosity and community approvals progressing.

Patagonia Lithium has ramped up pumping rates at its Formentera-Cilon lithium brine project with a 58% increase from Well 2, while advancing drilling and testing at Wells 7 and 8. The progress supports ongoing resource upgrades and operational efficiencies.

Patagonia Lithium’s Well 7 at Formentera delivered a lithium assay of 270ppm at 282m, close to the project average, alongside encouraging porosity and specific yield results that underpin production potential. Drilling will now shift to the Cilon concession, targeting a high-grade lithium zone.

Patagonia Lithium has locked in A$3.4 million through a placement priced at 10 cents per share, attaching options exercisable at 16 cents. The capital injection aims to fund further drilling, resource upgrades, and a lithium carbonate demonstration plant at its flagship Formentera project.