Patagonia Lithium starts drilling final Formentera well

• Patagonia Lithium has commenced drilling on well JAM 26-09 at its Formentera Project.
• The company's stock closed unchanged at $0.14 following the exploration update.
• This well represents the final drill hole required before updating the project's mineral resource estimate.

Patagonia Lithium (ASX:PL3) has commenced drilling well JAM 26-09 at its Formentera Lithium Project to complete its exploration sequence.

The company positioned the final drill hole strategically between existing wells 6 and 7.

“Our exploration continues at a rapid pace with the commencement of drilling Well 9. This is an important well, and I am expecting it to make a significant contribution to our MRE," said Patagonia Lithium Executive Chair Phil Thomas.

Workers are preparing 30m of 12.5-centimetre diameter steel casing to insert into the concrete into the top of the well.

Following the announcement the Patagonia Lithium share price was unchanged at $0.14.

The business completed setting the slotted liner and gravel insertion at well 8 ahead of scheduled porosity surveys and a 72-hour pump test.

The exploration programme targets brine resources across horizontal sand and clay formations to upgrade the current mineral deposit classification.