THE DRILL SERGEANT: Galan Lithium (ASX: GLN) announced a revised JORC 2012-compliant Mineral Resource estimate for the company’s Hombre Muerto West lithium brine project located in Catamarca province, Argentina.
Galan Lithium released the initial Hombre Muerto West resource estimate in March this year, which was subsequently updated by the company’s consultants, SRK Consulting in June to include the acquisition of the Deceo III concession, adjacent to the Pata Pila licence area.
At this time the resource estimate was re-classified from Inferred to Indicated.
SRK has now updated the HMW resource based on Galan’s recent acquisition of the Del Condor concession and a review of specific yield values used in the resource calculations.
The key HMW concessions (Del Condor, Deceo III, Pata Pila and Rana de Sal) have been combined to produce a total indicated resource of approximately 2.3 million tonnes of contained lithium carbonate equivalent (LCE) product grading at 946mg/l lithium (with no Li cut off).
“Being the third largest publicly disclosed resource in the Hombre Muerto and overtaking POSCO, is an amazing milestone,” Galan Lithium managing director Juan Pablo (JP) Vargas de la Vega said in the company’s ASX announcement.
“This is something we were not even dreaming about when we first started drilling late last year.
“The increase from 1.4 million tonnes to 2.3 million tonnes of LCE at HMW is a huge step up for the project’s economic and technical potential that we will now reflect in our ongoing PEA and scoping studies due for completion in early December 2020.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE