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Galan Lithium Surveys Positive Anomalous Soil Assays at Greenbushes South

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THE DRILL SERGEANT: Galan Lithium (ASX: GLN) recently completed the first exploration sampling and mapping work undertaken by the company at its Greenbushes South lithium project in Western Australia.

The Greenbushes South lithium project is a Joint Venture between Galan (80%) and Lithium Australia (ASX: LIT) (20%).

Galan Lithium has received the results of a completed geochemical survey covering 425 soil samples and 14 rock chip samples taken at the northern edge of its E70/4790 tenement and at the mapped location of the Donnybrook-Bridgetown Shear Zone (DBSZ).

The DBSZ a primarily associated with syntectonic emplacement of the lithium-bearing pegmatites of the Greenbushes mine to the north.

After the raw data from the survey has been processed it will be sent to Southern Geoscience Consultants, who have been contracted to interpret results for potential lithium targets.

Pathfinder elements such as arsenic and antimony have been demonstrated in elevated levels in soil samples near the trace of the DBSZ.

When combined with historical data in the area, Galan believes this indicates the strong potential for pegmatite targets within pending applications to the north.

Other pathfinder elements such as tin and rubidium show a broad lag signal east of the DBSZ.

“We are excited with the prospectivity at our Greenbushes South lithium project and are encouraged with the new soil sample results that continue to indicate that the tracing elements that are found within the Donnybrook sheer zone may well host lithium pegmatites the same as in the Greenbushes mine bordering to the north of our tenements,” Galan Lithium managing director JP Vargas de la Vega said in the company’s ASX announcement.

“Galan looks forward to further strengthening its geological data and knowledge within its tenements as soon as the report from our consultants is completed.

“The results will formulate our next exploration phase when we will be able to generate and prioritise specific exploration targets in the area.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@galanlithium.com.au

 

Web: www.galanlithium.com.au

 

Quarter Time Wrap.

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COMMODITY CAPERS: Company Quarterly Reports are a good way to catch up on what’s been happening over the past three months. Here we take a quick glimpse at a few.

Caspin Resources (ASX: CPN) completed a solid December Quarter with highlights including:

At the Yarawindah Brook project RC drilling at the XC-22 prospect intersected further nickel-copper sulphides that included a zone of up to 40 metres of disseminated nickel and copper sulphides in serpentinised ultramafics and pyroxenites in drillhole YARC0022, including a 2m zone of up to 20 per cent sulphides (assays pending).

Drilling was carried out of drillhole YARC0027 (assays pending), 175m along strike and down dip of YARC0022 that intersected gabbro and pyroxenite sequences with trace to minor disseminated sulphides.

Caspin sees the XC-22 prospect to be emerging as a separate prospect with mineralisation remaining open at this stage.

Other work has resulted in large-scale PGE-nickel-copper mineralisation trends emerging at the Central Yarabrook Hill prospect.

Continuity of mineralised ultramafic has been demonstrated over 1,500m down-dip and 3,000m of strike extent.

Multiple target concepts are still to be evaluated.

Caspin completed an EIS-funded stratigraphic diamond hole with multiple zones of sulphides intersected and lithologies supporting the company’s conceptual geological model.

Drilling is scheduled to recommence in February 2022 with several Phase 2 holes to be extended with ‘diamond tails’ in addition to drilling new, previously untested targets.

Airborne Electromagnetic survey now providing complete project-wide coverage Corporate.

The company is in a strong financial position with $12.3 million in the bank at end of quarter.

 

The focus for Argentina-focused lithium play Galan Lithium (ASX: GLN) during the December Quarter was ongoing feasibility works, construction activities and further drilling at the company’s high-grade Hombre Muerto West (HMW) project and the completion of the PEA/scoping study for the Candelas project.

Both projects are in the Hombre Muerto West salt flat in the South American Lithium Triangle.

Galan completed an updated stronger, compelling HMW economic study, resulting in unleveraged pre-tax NPV of US$2.2 billion, IRR of 37.5 per cent and less than three year payback period.

The HMW Feasibility Study was awarded to Hatch an independent firm that is anticipated to work with Galan’s close knit, highly experienced group of consultants.

Long term average lithium price assumption of US$18,594 per tonne lithium carbonate equivalent (LCE) battery grade used for both the HMW and Candelas projects economic assessments.

The company achieved excellent Preliminary Economic Assessment (PEA) results for Candelas, including unleveraged pre-tax NPV of US$1.225 billion, IRR of 27.9 per cent and a four year payback period.

The study determined an initial capital cost of US$408 million with a long project life of 25 years at 14,000 tonnes per annum of battery grade LCE.

A competitive cash production cost for Li2CO3 of US$4,227/t would position Candelas as a low-cost developer in the lithium industry.

 

During the December Quarter Neometals (ASX: NMT) advance progress of the company’s Lithium Battery Recycling Project (Neometals 100%, SMS earning into 50% through Primobius GmbH incorporated JV).

Neometals has developed a sustainable process flowsheet targeting the recovery of battery materials contained in production scrap and end-of-life lithium-ion batteries (LIBs) that might otherwise be disposed of in land fill or processed in high-emission pyrometallurgical recovery circuits.

Neometals’ process flowsheet (LIB Recycling Technology) targets the recovery of valuable materials from consumer electronic batteries (devices with lithium cobalt oxide (LCO) cathodes), and nickel‐rich EV and stationary storage battery chemistries (lithium‐nickel-manganese‐cobalt (NMC) cathodes).

The LIB Recycling Technology is designed to recover cobalt, nickel, lithium, copper, iron, aluminium, carbon and manganese into saleable products that can be reused in the battery supply chain.

A pilot trial at SGS Lakefield, Canada in 2019/20 produced cathode-grade nickel and cobalt sulphate products which collectively represent approximately 80 per cent of the value of the basket of products recovered.

A demonstration scale trial commenced in DecQ 21, which is expected to generate data for the company’s Feasibility Study.

Source: Company announcement

Neometals entered an incorporated 50:50 Joint Venture with SMS group GmbH, called Primobius GmbH.

Primobius was incorporated to co-fund and complete final stage evaluation activities and to consider commercialisation of the LIB Recycling Technology.

 

 

JP Vargas de La Vega Galan Lithium (ASX: GLN) October 2021

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Galan Lithium (ASX: GLN) has just banked $50 million to finance advancement of the company’s lithium projects in Argentina and Western Australia. Before heading off to the South West Connect Conference, Galan managing director JP Vargas de la Vega zoomed into The Resources Roadhouse to explain to Wally Graham how the money is to be spent.

Galan Lithium Prepares for Further HMW Drilling

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THE DRILL SERGEANT: Galan Lithium (ASX: GLN) has received permits for its next round of drilling from the Secretaria de Estado de Minería – Gobierno de Catamarca (the authority that approves drilling permits in Catamarca, Argentina).

Galan Lithium will soon commence its next drilling program over the Hombre Muerto West (HMW) project located on the Hombre Muerto salar in Argentina.

Preparatory works to access sites for drilling have now commenced within the Pata Pila and Rana de Sal concessions and drilling equipment has already mobilised to site.

The company explained that this next round of drilling aims to confirm and expand current resources and to test the dynamics of brine flow rates, and lithium grade necessary to estimate a maiden Reserves Estimate to be used as part of HMW’s Definitive Feasibility Study (DFS).

“We are pleased to be able to return to HMW, this time to drill for Reserves,” Galan Lithium managing director Juan Pablo (JP) Vargas de la Vega said in the company’s ASX announcement.

“With our new funding, Galan will also test new undrilled areas aiming to firm-up and increase resources.

“We want to prove that HMW could have a productive well field to support potential production as part of the DFS.”

The HMW project currently houses a high-grade, low impurity lithium brine resource of approx. 2.3 million tonnes lithium carbonate equivalent (LCE) at 946mg/l lithium.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@galanlithium.com.au

 

Web: www.galanlithium.com.au

 

Galan Lithium Tops Up Coffers with $50M Raising

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THE BOURSE WHISPERER: Galan Lithium (ASX: GLN) announced firm commitments to raise $50 million through a two-tranche placement to institutional, sophisticated and professional investors.

Galan Lithium said the Placement provides it with flexibility in respect to its ongoing capital expenditure requirements at Hombre Muerto West (HMW), Candelas and Greenbushes South.

Proceeds from the Placement will be applied to accelerate:

• Drilling activities at HMW to establish well fields for production and convert existing Resources to Reserves;

• Drilling activities at Candelas to convert existing Resources to Reserves;

• Ongoing exploration activities at Galan’s projects at HMW, Candelas and Greenbushes South;

• Completion of feasibility studies at HWM and Candelas; and

• General working capital.

The Placement is in two tranches.

Tranche One will raise $29.8 million and was well supported by high-quality domestic and offshore institutions.

Tranche Two, which is subject to Galan shareholder approval, will raise $20.2 million and was subscribed for by two institutional investors with a track record of successful investment in the natural resources sector.

Upon settlement of both tranches of the placement, Galan will have a cash balance of approximately $65.1 million.

“We are delighted to announce the completion of the Placement which has enabled us to introduce a number of high-quality institutions to Galan’s register,” Galan Lithium managing director Juan Pablo (JP) Vargas de la Vega said in the company’s ASX announcement.

“This represents a significant milestone in the history of the company and the recognition from these leading investors provides significant external validation for Galan’s extensive portfolio of strategic lithium projects.

“I would like to thank all new and existing shareholders for their ongoing support and look forward to accelerating the development of Galan’s projects at a particularly exciting time for the industry”.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@galanlithium.com.au

 

Web: www.galanlithium.com.au

 

 

Galan Lithium HMW Project Review Optimises Capex Profile

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THE DRILL SERGEANT: Galan Lithium (ASX: GLN) has made considerable advancement of feasibility study foundation works underway at the company’s Hombre Muerto West project (HMW project) located in the South American Lithium Triangle.

Galn Lithium’s HMW project team completed a preliminary evaporation ponds design making full use of the company’s tenement holding for producing up to 25,000 tonnes per annum lithium carbonate equivalent (LCE).

The company said the work had confirmed the robustness of the evaporation design to achieve a high-quality brine concentrate by successfully completing two additional brine evaporation tests.

“Galan continues to strengthen and broaden the flexibility of the HMW project with a view to production as soon as possible,” Galan Lithium managing director Juan Pablo (JP) Vargas de la Vega said in the company’s ASX announcement.

“We have confirmed the existence of a strong product with lithium concentrate levels beyond six per cent lithium, and we continue to optimise our evaporation route.

“Our team is confident of the HMW project’s potential to increase its production levels up to 25,000 tonnes per annum LCE in the next feasibility studies.

“The Galan team continues to look at solutions to grow and make HMW as robust and as low risk as possible by using proven technology.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@galanlithium.com.au

Web: www.galanlithium.com.au

 

Galan Lithium Takes Hombre Muerto West Indicated Resource over 2Mt

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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

 

Email: admin@galanlithium.com.au

 

Web: www.galanlithium.com.au

 

 

Galan Lithium Takes 100% Ownership of Argentine Projects

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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

 

Email: admin@galanlithium.com.au

 

Web: www.galanlithium.com.au

 

Galan Lithium to Focus on HMW Project Following Pond Modelling Results

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THE DRILL SERGEANT: Galan Lithium (ASX: GLN) has sharpened its focus on the company’s Hombre Muerto West lithium project in Argentina.

Galan Lithium made the adjustment following the completion of preliminary predictive modelling for brine concentration through an evaporation ponds system at the HMW project.

Results indicate concentrate with up to a 4.8 per cent lithium (or 25.6% Lithium Carbonate Equivalent (LCE)) can be obtained including high lithium recovery and low impurities.

Galan declared HMW has the potential to be a world class lithium brines project.

“The preliminary modelling results for HMW confirm that it is a higher priority development project than Candelas,” Galan Lithium managing director JP Vargas de la Vega said in the company’s announcement to the Australian Securities Exchange.

“Our efforts are now fully focussed on developing an economic and competitive project at Hombre Muerto West.

“Importantly, due to the project’s high-grade/low-impurity settings, Galan’s HMW project ranks very favourably amongst new developing lithium brine projects in the world-renowned lithium triangle.

“We fully believe in our special project and are primarily focused on proving that HMW can and will be, a future lithium producer.

“We remain on track to deliver our PEA/Scoping Study in Q4 2020.

“We look forward to continuing to optimise results and to test work further solutions once we have our brine delivered to the laboratory.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Web: www.galanlithium.com.au

 

Galan Lithium Makes Strategic Argentinian Land Acquisition

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THE BOURSE WHISPERER: Galan Lithium (ASX: GLN) increased its land tenure at the company’s Hombre Muerto West (HMW) project in Catamarca, Argentina.

Galan Lithium has acquired a 100 per cent interest in the Deceo III tenement, located at the Hombre Muerto salar, under a new re-negotiated agreement, under which it will pay US$30,000 to the vendors.

“This strategic 100 per cent project acquisition by Galan evidences our intentions to consolidate a significant continuous ground holding (currently ~14km) at HMW,” Galan Lithium managing director JP Vargas de la Vega said in the company’s announcement to the Australian Securities Exchange.

“Moreover, we are of the conviction that Candelas and HMW could become low-cost, profitable lithium producing projects, even at today’s lithium prices.

“Both of these 100 per cent-owned Galan projects have a solid resource base of high-grade lithium and low impurity levels in the best-known lithium producing region in Argentina.

“We are confident Deceo III will increase our lithium inventory given our previous work and the short distance to the drill hole Galan completed at Pata Pila.

‘Despite the constrains of the current COVID-19 pandemic, we continue to advance all the conceptual models of our Scoping and Pre-Feasibility Studies.

“We have commenced preparations to undertake additional laboratory test work to process our brine into battery grade lithium carbonate once the restrictions are lifted in Argentina and Chile.”

 

Web: www.galanlithium.com.au