Galan Lithium Ltd

ASX Code: GLN

9ch.etr

Australian based mineral exploration company exploring lithium brines in the lithium triangle region of South America.

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Galan Lithium Limited

Galan Lithium Limited is an ASX listed (ASX: GLN) mineral exploration company with rights and rights to earn a 100% interest in lithium brine projects located within the South American Lithium Triangle in Argentina.

The six projects, covering around 25,000 hectares, lie on the Hombre Muerto salar, one of the most important and prolific salt flats in Argentina and indeed the world. The Hombre Muerto salar is home to Livent Corporation’s El Fenix lithium brine operation, Galaxy Resources Limited’s (Galaxy) and POSCO’s Sal de Vida project and boasts the highest lithium brine grades along with the lowest impurities within Argentina. In February 2019, Galaxy received US$280M after selling a portion of Sal de Vida to POSCO. 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.

In January 2019, Galan accelerated work at its Candelas project conducting an eight drill-hole campaign. Drilling primarily in the northern zone of the project unearthed some stellar numbers including 192 metres at 802 mg/l Li with very low impurity levels.

A maiden, Candelas North JORC resource of 684,850 tonnes of contained lithium carbonate equivalent (LCE) at 672 mg/l Li (based on a 500mg/l Li cut-off) was announced on 1 October 2019.

In December 2019, the Company commenced another drilling campaign on its Western Basin tenements (Rana de Sal and Pata Pila) in the Hombre Muerto salar. The Rana de Sal and Pata Pila licences both cover large alluvial fans lying adjacent to Livent Corporation’s tenure.

Recently announced results were spectacular:

  • At Rana de Sal, 72-hour air lift test sample returned 1,010 mg/l Li over a >330m interval confirming outstanding grade average for drillhole RS-01-19. The results are the highest lithium grade reported by Galan on any drill hole at Hombre Muerto.
  • At Pata Pila, 72 hour air lift test sample returned 946 mg/l Li over a >670m interval confirming exceptional grade average for drillhole PP-01-19. The Mg/Li averages of 1.49 are the lowest levels of impurity to date reported by Galan on a drill hole at Hombre Muerto.

The data from Rana de Sal and Pata Pila will be used for the maiden resource estimate of the Western Tenements, which is expected during Q1 CY2020.