THE BOURSE WHISPERER: Galan Lithium (ASX: GLN) has acquired further, important strategic projects alongside the company’s Hombre Muerto West tenements in Argentina.
Galan Lithium announced that it has completed the purchase of 100 per cent interest in the Del Condor and Pucara lithium brine salar projects that abut the Hombre Muerto West tenements.
The Del Condor and Pucara comprise two claim blocks totalling 1,804-hectares and are located within the world-class, Salar del Hombre Muerto, where Livent Corporation (NYSE: LTHM) is currently producing lithium carbonate and Galaxy Resources (ASX: GXY).
Galan has now consolidated HMW that is expected to host a resource with a continuous polygon of approx. 7.5 kilometres strike, up to approx. 2.5km in width and up to 718m in depth as recorded at Pata Pila.
Of note, the projects abut Galan’s Pata Pila, Deceo III and Rana de Sal interests, which currently house an indicated resource of 1.37 million tonnes LCE at 946Mg/L lithium.
“Despite COVID-19 constraints, the team in Argentina has delivered on our original vision from 2017,” Galan Lithium managing director JP Vargas de la Vega said in the company’s announcement to the Australian Securities Announcement.
“HMW is now a significant polygon, the acquisition and the annex of these new tenements consolidates the project as a genuine lithium development in Argentina.
“We look forward to receiving the Resource Update from SRK and including the new data into our PEA/Scoping Study due in Q4 2020.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE