Galan Lithium Limited
Galan Lithium Limited is an ASX listed (ASX: GLN) lithium exploration company with the rights to earn 100% interest in projects located within the South American Lithium Triangle in Argentina. The projects lie on the Hombre Muerto salar, one of the most important and prolific salt flats in Argentina and indeed the world. Hombre Muerto is home to Livent Corporation’s El Fenix lithium brine operation Galaxy Resources’ and POSCO’s Sal de Vida project and boasts the highest lithium brine grades with the lowest impurities within Argentina. Galaxy recently sold a portion of Sal de Vida to POSCO for US$280M. Galan’s projects are led by an extensive holding at Candelas which incorporates the Los Patos channel which feeds ~79% of the lithium laden waters into Hombre Muerto.
Recent first pass geophysical work highlighted a very deep channel, some 15km long and up to ~600m deep, interpreted to contain very conductive and shallow units that are compatible with units being saturated with brine. This potential brine material is ~150 to 400m thick and represents a very large target for hosting lithium bearing brine material. Recently, the Company commenced its maiden drill programme at Candelas with success in the first hole which confirmed the presence of thick, high-grade, low impurity, lithium-bearing brines. As a result the Company has fast tracked its exploration with a view towards estimating a resources as soon as possible.