Galan Lithium Increases Candelas Mineral Resources
THE DRILL SERGEANT: Galan Lithium (ASX: GLN) announced a material increase in the JORC (2012) Mineral Resource Estimate (MRE) for the company’s 100 per cent-owned Candelas project in the Catamarca Province of Argentina.
Galan Lithium reported a robust Scoping Study result for Candelas in October 2019 using a MRE of 685,000 tonnes Lithium Carbonate Equivalent (LCE) as the basis for the study.
The updated MRE has come in at 1.6 million tonnes LCE, which the company believes.
o Enhances the economic potential of Candelas.
o Provides a foundation for assessing other commercialisation options for Candelas, including larger-scale evaporation systems and/or alternative lithium extraction technologies.
o Highlights significant potential for further growth of the Candelas Mineral Resource, which could underpin further development and growth phases.
“Applying sound geoscientific knowledge and modern exploration techniques to a world-class lithium resource has continued to deliver outstanding results for Galan,” Galan Lithium managing director Juan Pablo (JP) Vargas de la Vega said in the company’s ASX announcement.
“We identified the potential to add significant value-accretive LCE tonnes at Candelas on a very modest budget and have delivered on that opportunity.
“With this material resource growth, Galan now sits within the top 10 lithium production and construction projects, by Mineral Resource, which is an unbelievable achievement from our maiden resource generated in 2019.
“Our resources are focused on finalising the Phase 1 financing and offtake process followed by completion of the Phase 1 construction and operations at HMW.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE