Galan Lithium Increases HMW Resource to 8.6Mt LCE

THE DRILL SERGEANT: Galan Lithium (ASX: GLN) managing director JP Vargas de la Vega eventually flew into Singapore in time for the company to announce an increase to the JORC (2012) reported Mineral Resource estimate for the company’s’ Hombre Muerto West project located in Catamarca Province, Argentina.

Galan Lithium has now increased its 100 per cent-owned Mineral Resources to 8.6 million tonnes of contained lithium carbonate equivalent (LCE) at 859mg/L lithium (previously 7.3Mt LCE @852mg/L Li).

The company has declared this to now be one of the highest-grade resource estimates in Argentina.

“This latest significant upgrade in the high grade, low impurity HMW Resource highlights the potential enormity of the brine resource that sits within Galan’s 100 per cent-owned tenements in Argentina,” Galan Lithium managing director Juan Pablo (JP) Vargas de la Vega said in the company’s ASX announcement.

“The initial HMW resource in March 2020 was 1.08 million tonnes LCE at 946mg/L lithium, upgraded in May 2023 to 6.6 million tonnes LCE at 880mg/L lithium.

“This has now been increased a further approx. 20 per cent to a tier one size of 8.6 million tonnes LCE at 859mg/L lithium, with the inclusion of our Catalina tenements.

“Coupled with our Candelas resource, Galan has a very solid foundation, and more importantly has delivered a further validation that its Hombre Muerto Salar resources fully support our four-stage lithium production target of up to 60,000 tonnes pe annum LCE.

“The HMW Project is robust and underpinned by strong financial metrics as illustrated in its Stage 1 and Stage 2 DFS results.

“We constantly evaluate opportunities to increase the value of the HMW Project in parallel with continuing to construct Stage 1 as we look forward to first commercial production in 1H 2025.”

The updated HMW Mineral Resource was supported by new core porosity data from Santa Barbara, Casa del Inca III and Del Condor tenements.