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Patagonia Lithium Ltd (ASX:PL3)

ALERT: Price-sensitive ASX Announcement for PL3
Current share price for PL3 : $0.100 0.037 (58.73%)+
Announcement
Release
6 Jan 2026 8:49AM
Price at Release
$0.063
Full Release
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Summary
Patagonia Lithium Ltd, trading as PL3, has reported that their drilling at the Formentera concession well JAM 25-05 in Argentina has reached a depth of 335 metres. Drilling operations are set to recommence on 6 January 2026. Two packer brine samples were collected from depths of 98-104m and 134-140m and are being analyzed by Alex Stewart and ALS Global laboratories. A specialized double packer system is employed to sample all brines once the terminal depth is reached. Four core samples were sent to Buenos Aires for porosity analysis, and environmental tests on surface and subsurface brines are ongoing. Executive Chairman Phillip Thomas highlighted the progress and encouraging brine volumes encountered. The project is part of broader efforts in Jujuy province's lithium triangle, with significant assay results anticipated in the coming weeks.
Key Points
  • Drilling at Formentera well JAM 25-05 has reached 335m depth.
  • Operations to resume on 6 January 2026.
  • Brine samples sent for analysis to Alex Stewart and ALS Global laboratories.
  • Use of specialized double packer system for brine sampling.
  • Core samples sent to Buenos Aires for porosity analysis.
  • Environmental testing includes oxygen 18 isotopes and carbon 14 evaluations.
  • Encouraging brine volumes encountered.
  • Located in Jujuy province within the lithium triangle of Argentina.
  • Significant lithium assay results expected.
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.