Colonia Glacier is a valley glacier located in the Northern Patagonian Ice Field, Chile. The glacier spills out to the southeast from an ice plateau north of Cerro Arenales and has its terminus about 4 km (2.5 mi) from Colonia Lake. Colonia Glacier dams two lakes; Cachet II and Arco Lake. The ice dam containing the waters of Cachet II Lake fails regularly, which generates glacial lake outburst floods.
On March 31, 2012 for the second time in 2012, Lake Cachet II with 200 million cubic liters of water is vanishing in less than 24 hours due to glacier wall normally acts as a dam containing the water is perforated due to rising temperatures driven by climate change. The lake has drained 11 times since 2008 and experts predicted it will increase in frequency