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Galan Lithium Ltd

Galan Lithium’s geophysical survey expands lithium potential in Argentina

Permitting procedures to conduct drilling over the project are well advanced to commence drilling in the current quarter.

lithium elementary table
Project is adjacent to Galaxy Resources’ and POSCO’s Sal de Vida projects

Galan Lithium Ltd (ASX:GLN) has received promising results from a second resistivity survey conducted at its Candelas prospect within the Hombre Muerto Lithium Project in Catamarca Province, Argentina.

The company’s geophysical consultants have identified conductive and shallow units that are compatible with being saturated with brine, which constitute a great potential for lithium exploration.

Depths to brine are relatively shallow and conductive units, interpreted to be brine material, range from about 150 to 400 metres in thicknesses over the 15 kilometre long channel.

Notably, the total area covering potential brines has increased to about 5,930 hectares.

 

Galan non‐executive chairman Nathan McMahon said: “The recent survey has further confirmed our belief that Candelas has the very real potential to host a significant resource of potentially economic brine.

“We have extended the target from 10 to around 15 kilometres within our project which is adjacent to significant lithium projects and on one of the world’s most prolific salt flats for the production of high‐quality lithium carbonate for the battery minerals market.

“We now await the granting of our permits to allow drilling of this extensive target for the very first time.”

READ: Galan Lithium reveals third director share increase this month

Galan is awaiting the results of surveying over some of its other leases in the Hombre Muerto Western basin which are being processed.

Additionally, permitting procedures to conduct drilling over the project are well advanced and Galan is advancing contracts to commence drilling in the current quarter.

Quick facts: Galan Lithium Ltd

Price: $0.21

Market: ASX
Market Cap: $28.79 m
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Galan Lithium makes new discovery at Candelas project in Hombre Muerto

Galan Lithium Ltd (ASX:GLN) advisor Clive Jones speaks to Proactive Investors about the company's new discovery at the Candelas Lithium Brine Project in Agrentina's Hombre Muerto region. Drilling is ongoing, and more detailed sampling and downhole geophysics will be undertaken.

on 13/2/19

2 min read