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Galan Lithium halts shares ahead of maiden lithium brine assays

Notably, preliminary observations already confirmed a substantial intersection of brine.

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The halt will be lifted once lab assays from drill hole C-01-19 are released

Galan Lithium Ltd (ASX:GLN) has requested its shares be placed in a trading halt ahead of the release of assays from its maiden drill hole at its Candelas Lithium Brine Project in Argentina.

Shares in the company will remain halted until the earlier of either, the release of the drilling results, or, the commencement of trading on Wednesday 13 February 2019.

READ: Galan Lithium drills brine in maiden hole at lithium project

Last week, Galan revealed that it had encountered a substantial intersection of brine in its maiden drill hole at Candelas.

The hole, C‐01‐19, intersected the brine from depths of 235 metres to the hole’s current depth of ~300 metres.

Candalas is part of the greater Hombre Muerto Lithium Brine tenement package

Quick facts: Galan Lithium Ltd

Price: 0.185 AUD

ASX:GLN
Market: ASX
Market Cap: $25.98 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