- Galan’s Candelas Project comprises 14 exploration permits covering over 24,000 hectares hosted within an approximately 15km long by 3-4km wide structurally controlled basin. The Candelas Project is supported by a full Preliminary Economic Assessment and a JORC 2012 Resource and lies approximately 40 km ESE of the HMW Project. Candelas is located in the Puna geological province and approximately 170 km west-southwest of the city of Salta.
- Candelas has no third-party royalties attached to it and has a readily accessible reverse osmosis water source, meaning that no river water will be required.
- The Candelas project will be incorporated into Phase 4 of the revised 60ktpa production plan.
2021 Preliminary Economic Assessment Highlights
- Low-risk, proven process technology (similar to proximate Hombre Muerto West Project)
- Expected 14 ktpa Li2CO3 over +25 year life1
- Unlevered pre-tax NPV8% of US$1,225M
- IRR of 27.9% with 4 year payback period
- Significant potential cost synergies and value enhancements available from integrated development with HMW Project; not currently incorporated in PEA forecasts
Galan Lithium Total Resource Estimate, January 2025 2*
Notes:
1. A cut-off grade of 500 mg/L updated Mineral Resource Estimate for Candelas.
2. The Mineral Resource Estimate for Hombre Muerto West in unchanged from 27 March 2024. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements, and that all material assumptions and technical parameters have not changed.
3. There may be minor discrepancies in the above table due to rounding.
4. The conversion for LCE = Li x 5.3228, KCl = K x 1.907.
5. Candelas tenements are located about 40 km to the Southeast of the HMW Project. The Candelas Mineral Resource Statement was originally announced by Galan on 1 October 2019.
