Galan Lithium Moves to Full Ownership of Candelas Project
THE DRILL SERGEANT: Galan Lithium (ASX: GLN) managing director JP Vargas de la Vega is always up for a chat and next week at the RIU Explorers Conference will be no exception.
Vargas de la Vega will no doubt be enthusiastic to spruik the company’s progression to 100 per cent-ownership of the Candelas project in the Catamarca Province, Argentina.
A PEA Study completed in 2021 estimated a production profile for Candelas of 14,000 tonnes per annum of battery grade lithium carbonate product including some technical grade product for the first three years.
The Candelas project is supported by a full Preliminary Economic Assessment (PEA) and a JORC 2012 Resource and is close to the company’s Hombre Muerto West project.
“The Candelas project was our first project foray into Argentina, and we now have final full ownership of the project,” Vargas de la Vega said in the company’s ASX announcement.
“Over the journey, our focus has understandably been on Hombre Muerto West but once we complete the DFS and associated works and infrastructure projects we will move forward on Candelas.
“With our five years of lithium knowledge in the region, we will initially re-visit all our geological data and analysis.
“Don’t forget, Candelas is a stand-alone, lithium brine project in the Catamarca province, with no water access concerns, that shows robust economic returns.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE