Galan Lithium Releases High-Grade Hombre Muerto West Lithium Resource

THE DRILL SERGEANT: Galan Lithium (ASX: GLN) released the maiden JORC (2012) reported Mineral Resource estimate for the company’s Hombre Muerto West lithium brine project located in Catamarca province, Argentina.

The mineral resource estimation was undertaken by SRK Consulting (Australasia) and was based upon results from drill holes within Galan’s Pata Pila and Rana de Sal tenement holding at Hombre Muerto West.

The maiden Inferred mineral resource for Pata Pila and Rana de Sal came in at 1.08 million tonnes of contained lithium carbonate equivalent (LCE) at 946 milligrams per litre (mg/l) lithium (no cut off).

Galan Lithium said the numbers had far exceeded its expectations in terms of grade, impurities and size while increasing its total combined mineral resource by 158 per cent from 685,000 tonnes LCE at 672mg/l lithium to 1.77 million tonnes LCE at 837mg/l lithium.

“We are delighted to deliver a JORC reported maiden Resource estimate resulting in an approximate 1.1 million tonnes of LCE product within the HMW project area,” Galan Lithium managing director Juan Pablo (JP) Vargas de la Vega said in the company’s announcement to the Australian Securities Exchange.

“This Inferred resource helps to consolidate Galan’s Scoping and Pre-Feasibility Study and has exceeded the company’s expectations significantly, further validating the high-grade, low impurity nature of the HMW and Candelas projects.

“With the new combined resource of 1.8 million tonnes of LCE and flexibility of two solid projects, our strategy is now stronger to advance towards commercial development and to demonstrate the economic product viability.

“I look forward to updating investors on the progress of our Scoping and Pre-Feasibility study.”

Galan Lithium signalled further work is to come to better define the synergies of the mineral resources from its Candelas and HMW projects that will include additional drilling within the HMW and the Candelas North project areas to provide better geological definition and mineralisation potential of the aquifers.

Additional works will include the new HMW resource for inclusion in the Scoping and Pre-Feasibility Study which will include base hydrogeological modelling and the investigation of various processing technologies with a focus on traditional evaporation ponds as a precursor to processing.

Galan has recently acquired the option to purchase strategic projects (Del Condor and Pucara de Salar) at HMW from Portofino Resources.

 

Web: www.galanlithium.com.au