Galan Lithium Limited (ASX:GLN) is thrilled to announce the acquisition of a significant exploration tenement, E70/4629, situated less than 30 km south of the world-renowned Greenbushes Mine. This strategic move marks a pivotal expansion of Galan's exploration footprint in a region known for its rich lithium-bearing pegmatites, underpinning the company's commitment to securing high-potential lithium resources.
The newly granted tenement, which spans approximately 43 km², is located about 260 km south of Perth and enriches Galan's portfolio to a comprehensive 315 km². This acquisition is granted for a five-year period, extending until February 2029, and is poised to play a crucial role in Galan's exploration strategy.
Central to the tenement's value are the historic tin workings within the Smithfield pegmatite area, which are closely associated with lithium-bearing pegmatites. These workings not only offer a window into the region's geological past but also hint at the presence of spodumene mineralisation, a key lithium ore. The proximity to the Greenbushes pegmatite further elevates the tenement's prospectivity, given the well-documented tin and tantalum markers associated with lithium deposits.
Galan's approach to unlocking the tenement's potential involves a re-interpretation of historical geophysical data, which suggests the extension of the Donnybrook-Bridgetown Shear Zone into E70/4629. This geological feature is believed to be instrumental in the emplacement of pegmatites, offering promising exploration targets. Initial efforts will leverage high-resolution radiometric and magnetic data from a previous airborne geophysical campaign, setting the stage for a comprehensive exploration campaign slated for the second half of 2024.
The campaign will encompass hand sampling, ground geophysics, geologic mapping, soil sampling, and rock chipping, aimed at delineating the extent and quality of lithium mineralisation within the tenement.
Juan Pablo Vargas de la Vega, Managing Director of Galan Lithium, expressed his enthusiasm for the new venture, stating, "The grant of this key exploration licence is an important pillar of Galan’s exploration and evaluation activities at Greenbushes South. The tenure is highly prospective and its geological setting gives us the confidence to commence a maiden field campaign at the earliest opportunity. We look forward to updating the market as we advance the project."
This strategic expansion underscores Galan Lithium's dedication to securing and developing high-quality lithium resources, reinforcing its position in the global lithium market. Stakeholders and investors are keenly watching as Galan embarks on this exciting exploration journey, poised to contribute significantly to the burgeoning lithium industry.
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, just south of the Tier 1 Greenbushes Lithium Mine.
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