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Galan Lithium (ASX: GLN) – Key Canadian Lithium Project Acquisitions

Galan Lithium Limited (ASX: GLN) 4 mins read
  • Galan has entered into a binding JV agreement with Redstone Resources Limited (as JV manager) to acquire 100% of the Taiga, Camaro, and Hellcat Lithium Projects in the heart of the James Bay lithium province. 
  • Initial exploration in the James Bay Projects completed by Axiom Exploration Group Ltd identified 28 prospective pegmatite dykes. 
  • James Bay Projects cover 5,187 hectares adjacent to Patriot Battery Metals Inc (TSX.V:PMET) discovery – Taiga and Camaro both share tenement boundaries with PMET. 
  • PMET’s CV8 pegmatite, with samples averaging 4.6% Li2O, is located 1.4 km north of the Taiga Project and PMET’s newly-discovered CV13 pegmatite cluster is located 1.5 km north of the Camaro Project. 
  • Galan and Redstone Resources Limited have also entered into a JV agreement to secure an option to acquire 100% of the PAK East and PAK Southeast Lithium Project in Ontario’s Electric Avenue. 
  • PAK Projects cover agreements over 1,415 hectares in Ontario and are adjacent to Frontier Lithium Inc’s (TSX.V:FL) PAK Lithium Project
  • Frontier Lithium Inc’s PAK Lithium project contains North America’s highestgrade lithium resource and is the second largest in North America by size
  • With these acquisitions Galan continues to build a quality exploration portfolio including in world class lithium provinces, renowned for Tier 1 lithium discoveries.

Galan Lithium Limited (ASX: GLN, “Galan” or the “Company”) is pleased to announce it has entered into an exclusive binding agreement to acquire 100% of the Camaro-Taiga-Hellcat property blocks collectively covering 5,187 hectares located in the world-class James Bay Lithium Province, host to several advanced lithium projects and new lithium discoveriesin Quebec, Canada. The Joint venture also includes an option to acquire 1,415 hectares in Ontario’s Electric Avenue near the Frontier Lithium’s PAK Lithium Project.

All projects (see Figure 1) will be housed within a 50/50 unincorporated joint venture with ASX-listed Redstone Resources Ltd (ASX:RDS) (Redstone). 

Commenting on the lithium acquisitions and joint venture with Redstone, Galan’s Managing Director Jian Pablo (JP) Vargas de la Vega said:

“Galan is very pleased to invest in the world renowned James Bay Lithium district in Québec, Canada. In Joint Venture with Redstone, who will be the manager. Galan is very experienced in lithium exploration and looks forward to the Joint Venture initiating exploration in the region. Securing an option in a premier lithium district of North-West Ontario also pleasing to Galan. Both projects are low entry cost ventures into Canada.

The JV projects are of quality and situated nearby excellent lithium discoveries, with the James Bay Lithium Projects being adjacent to the Patriot Battery Metals high-grade CV8 pegmatite discovery, and the PAK Lithium Projects situated in Ontario's Electric Avenue area. 

Securing a prospective position in two premier lithium exploration global hotspots is value accretive and complements our exploration efforts in Greenbushes South in Western Australia to create further value for shareholders in parallel with our development and production lithium brine assets in Argentina.”

Geology

Three primary ingredients have been identified in the industry as necessary for spodumene-bearing pegmatite emplacement: 1) Nearby granites, providing a source for melts; 2) Greenstone belts, acting as host rocks; and 3) large-scale structural features acting as conduits for the melts. The Taiga, Camaro and Hellcat properties in James Bay contain all three ingredients and multiple high-value exploration targets. 

Taiga and Camaro Projects

These properties are situated in the Meso-Archean to Paleoproterozoic La Grande Subprovince of the Superior Provence. The Corvette Pegmatite series is hosted in the Mesoarchean Guyer Grupe, which is dominantly a meta-basalt (greenstone). The Taiga and Camaro projects are underlain by the Poste Le Moyne and Langelier plutons, respectively. The Camaro project is hosted in the Semonville Pluton with local windows of the Rouget Formation metabasalt. Properties are hosted in hornblende biotite diorite, quartz-rich diorite, biotite hornblende tonalite, granodiorite, granite, conglomerate, wacke, and amphibolite. Pegmatite dykes range from cm-scale irregular anatectic sweats to locally 5m wide dykes traced up to 200 m in length. The dykes are comprised of plagioclase feldspar, potassium feldspar, quartz, and minor biotite with local tourmaline and muscovite. 

Hellcat Project

The Vieux Comptoir Granitic suite contained within the properties is believed to be the source of the spodumene-bearing pegmatite dykes found within the region. The properties host multiple greenstone belts. The primary greenstone within the Project is Amphibolites of the Rouget greenstone belt, a similar age to the Grupe de Guyer greenstone belt, located within Patriot Battery Metals Corvette discovery. Additionally, the Corvette Shear Zone transects the property roughly E-W, creating an additional zone of weakness for pegmatite emplacement within the greenstone belt. 

Geologic Sample Collection

During October 2022, Infinity Stone Ventures contracted Axiom Exploration Group to complete basic geologic reconnaissance and assess the prospectivity of the Taiga-Camaro-Hellcat properties. Axiom collected eleven (11) samples from the Taiga property, twelve (12) samples from the Camaro property and forty-seven (47) from the Hellcat Tenement. Overall, sixty-one (61) samples were classed as pegmatite (See Figure 2). Pegmatite samples were collected from outcropping dykes ranging from 30cm to 2.5 m thick. The samples from the Hellcat properties host the greatest concentration of prospective dykes with multiple dykes encountered at one outcrop. 

Most of the assay data provided show encouraging geochemical trends indicative of fractionation commonly associated with pegmatite mineralisation (e.g. trends to very low ratios of K/Rb, Mg/Li, and Nb/Ta), while two pegmatite samples show Ta values above 100 ppm.

Ontario Lithium Projects - PAK South and PAK Southeast 

In addition to the acquisition of the Hames Bay Projects, Galan and Redstone have secured an option to acquire 100% of the PAK South and PAK Southeast claims located approximately 170 km north of Red Lake, Ontario, in the Red Lake Mining Division. The PAK South and PAK Southeast properties cover 1258 hectares and 157 hectares, respectively, and several pegmatite units have been identified in regional mapping by the Ontario Geological Survey (OGS)1 . The Properties are adjacent to Frontier Lithium’s (TSX.V:FL) PAK Lithium Project, which includes two lithium deposits, the Spark Deposit and PAK Deposit, and two other prospects3. On February 16, 2022, Frontier Lithium announced it encountered “405 metres of 1.5% Li2O” at its Spark Deposit4 . Frontier Lithium’s PAK Deposit hosts a mineral resource in measured and indicated categories of 6.68Mt @ 2.02% Li2O and inferred of 2.67Mt @ 2.29% Li2O. In comparison, the Spark Deposit hosts an indicated resource of 14.4Mt @ 1.40% Li2O and an inferred resource of 18.1Mt @ 1.37% Li2O2,3.


About us:

Galan Lithium Limited (ASX:GLN) is an ASX-listed lithium exploration and development company. Galan’s flagship assets comprise two 100% owned, world-class lithium brine projects, Hombre Muerto West (HMW) and Candelas, located on the Hombre Muerto salar in Argentina, within South America’s ‘lithium triangle’. HMW 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 operations (Livent Corporation) and Sal de Vida (Allkem) and Sal de Oro (POSCO) lithium projects.  Galan is also exploring at its 100% owned Greenbushes South lithium project in Western Australia, located approximately 3km south of the Tier 1 Greenbushes Lithium Mine.


Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

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