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 FMC’s El Fenix lithium brine operation and Galaxy Resources’ Sal de Vida project and boasts the highest lithium brine grades and 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, >4,000 Ha, 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. Maiden drilling permits have been applied for and it is expected that drilling will occur in Q4 2018.
The Company recently changed its name from Dempsey Minerals Limited to Galan Lithium to better reflect its new direction whilst also embracing the importance of Cerro Galan; a volcano and caldera complex located nearby and considered the most important feed source of lithium into the Hombre Muerto Basin.
Galan Lithium Ltd is an Australian based mineral exploration company established to generate shareholder wealth by identifying, acquiring and/or developing mineral projects.
The Company believes that the emerging battery minerals sector provides exceptional upside for investors.
The key focus of the Company is the transaction of February 2018 whereby the Company signed an exclusive option agreement (OptionAgreement) with Australian company Blue Sky Lithium Pty Ltd (Blue Sky) to acquire 100% (royalty free) of Blue Sky’s interests in mining tenements located in the world class lithium bearing Hombre Muerto salt flat in the province of Catamarca, Argentina. Blue Sky, through its Managing Director and founder Mr. Juan Pablo Vargas de la Vega, has had a long association in the mining industry in Australia and Latin America and in particular within the lithium sector. Under the terms of the Agreement, Galan completed the exercise of the Option in June 2018, by acquiring 100% of the issued capital of Blue Sky Lithium.