Patagonia Lithium (ASX:PL3) Executive Chairman Phillip Thomas says the company is “making great progress at 335m” of drilling and has not encountered any well problems to date at the Formentera concession well in the Jujuy province in Argentina.
“The well will be conditioned on 6 January 2026 and a packer test may be taken prior to recommencing drilling at the 335m level,” Thomas says.
“To date, we have encountered sandy and clay layers, but the volume of brine in these layers has been very encouraging.”
Patagonia has taken two lots of samples from drillhole JAM 25-05 from a depth between 98m and 104m, as well as a depth of 134m and 140m.
Samples have been sent to Alex Stewart and ALS Global laboratories for analysis.
The company intends to use a special double packer system in order to sample all brines once reaching the terminal depth of the drillhole. Four core samples have been packed for porosity analysis in the Buenos Aires testing laboratory.
Samples of surface and subsurface brines were tested for oxygen 18 and carbon 14 isotopes to determine the fluvial conditions and age of brines in order to complete the environmental plan submission.
Previously speaking to Mining.com.au, Thomas described the lithium market as a “rapidly evolving” landscape in 2025 that will see more demand in coming years due to the global shift towards electrification.
Trading Economics reports the price of lithium as ¥119,500 ($25,467), representing a 58.07% increase for this year over year.
Patagonia intends to be producing lithium within two years, positioning itself within the global demand for batteries.
Write to Maddison Elliott at Mining.com.au
Images: Patagonia Lithium
