Galan Lithium Limited (ASX:GLN) (Galan or the Company) is pleased to provide an update on the newly consolidated Catalina tenure, which greatly enhances the potential to add to the existing HMW Resource. The tenure consolidation announced on 28 July 2023 includes 5,954 hectares of existing HMW tenements in Catamarca and holds strong prospects for future development.
Key Highlights:
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Tenure Consolidation: The newly consolidated tenure overlaps with existing HMW tenements and is adjacent to the HMW Resource. The consolidation also includes the Catalina, Rana de Sal II, Rana de Sal III, Pucara del Salar, Deceo I, and Deceo II tenements.
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Strong Validation from Existing Exploration: Data from Galan's well PS-01, located approx. 500m south of the consolidated area, ranges 953 to 988 mg/L Li, with an explored depth of 300m, still open at depth. This strongly validates the positive prospectivity of the consolidated area.
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Anticipated Resource Target Increase: As a result of the consolidation, Galan anticipates a Resource target (1) of between 500kt and 1.5Mt LCE ranging 953 to 988 mg/L.
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Favorable Conditions for Future Pond Construction: The consolidated tenure presents an area favorable for future pond construction.
Galan’s Managing Director, Juan Pablo Vargas de la Vega, expressed enthusiasm about the move, stating:
“This important transaction comes at a pivotal time for consolidating and securing Galan’s tenure at HMW. Our geological and hydrogeological information has identified this new target area as an exciting opportunity to increase our actual resource footprint, providing exceptional conditions for both brine quality and productive yield."
He further elaborated:
"Existing exploration data on the HMW area, located on the southern limit of the consolidated area, provides an excellent foundation for Resource expansion at HMW. Furthermore, exploration has now already commenced on this tenure. We expect the future production phases of our HMW project (Phases II, III and IV) will be cemented by the expected resulting resource expansion.”
About us:
Galan Lithium Limited (ASX:GLN) is an ASX-listed lithium exploration and development business. Galan’s flagship assets comprise two world-class lithium brine projects, HMW and Candelas, located on the Hombre Muerto salar in Argentina, within South America’s ‘lithium triangle’. Hombre Muerto is proven to host lithium brine deposition of the highest grade and lowest impurity levels within Argentina. It is home to the established El Fenix lithium operation (Livent Corporation) and the Sal de Vida (Allkem) and Sal de Oro (POSCO) lithium projects. Galan is also exploring at Greenbushes South in Western Australia, approximately 3km south of the Tier 1 Greenbushes Lithium Mine.
Contact details:
Jane Morgan