Formentera Lithium Drilling Results and Update.

Patagonia Lithium Ltd (ASX: PL3) has concluded drilling at its Formentera concession well JAM 25-05, reaching a depth of 401m. The drilling encountered compacted low-porosity clay sediments from 250m to 400m, leading to the decision to call end of hole (EOH). Brine samples from depths of 99-102m, 132-133.5m, and 165-170m showed lithium concentrations of 156ppm, 195ppm, and 219ppm, respectively. However, multiple packer tests from 250m to 400m failed to yield measurable brine. Six core samples have been sent for porosity analysis to a Buenos Aires laboratory. While disappointing not to reach the target depth of 600m, the data obtained from this drilling campaign, particularly regarding the low resistivity and clay-bound water, is valuable for future drilling efforts. Preparations are underway for the next well, JAM 26-06, located south of well JAM 24-02.

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