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Galan Lithium Confirms High-Grade Lithium over 143 Metres

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THE DRILL SERGEANT: Galan Lithium (ASX: GLN) received final assays from the third drillhole (C‐03‐19) drilled at the company’s Candelas lithium brine project, located in Catamarca province, Argentina.

The drillhole is located approximately 2.5 kilometres south of the company’s maiden drillhole (C‐01‐19), which provided results including an intercept of 192 metres at 802 milligrams per litre (mg/l) lithium with low impurities.

Following downhole geophysical logging several packer tests were performed and samples collected and sent for analyses.

Field tests and logging indicated a substantial intercept of brine where assays confirmed an intercept of 143m at 784mg/l lithium from 311m to 454m.

The company explained that following sampling of drillhole C‐04‐19 the rig will be moved north with drilling to focus on resource definition in the northern Candelas channel area.

Permitting for further drilling beyond the initial five holes approved is advanced and expected in the near term.

“The results to date confirm that a potentially substantial volume of high quality, low impurity lithium bearing brine exists over a large area and the company remains on target to define a resource in Q3 this year,” Galan Lithium said in its ASX announcement.

 

Website: www.galanlithium.com.au

 

Galan Lithium Extends Third Candelas Hole

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THE DRILL SERGEANT: Galan Lithium (ASX: GLN) announced completion of drilling, casing and sampling of the third drillhole (C‐03‐19) at the company’s Candelas lithium brine project located in Catamarca province, Argentina.

The drillhole is located approximately 2.5 kilometres south of the maiden drillhole (C‐01‐19, figure 1) that included results such as 192 metres at 802mg/l Li with low impurities.

Galan Lithium carried out downhole geophysics following its initial termination of the drillhole, results from which indicated that highly conductive and high Specific Gravity (SG) brine was still being encountered to the bottom of the hole.

The company decided to deepen the hole to a final depth of 454m.

Several packer tests were performed using the downhole data as guidance which indicated a preferred section from 313m to 454m with conductivities in excess of 200mS/cm and SG readings approximately 1.19g/cm3.

The hole was then cement cased to 315m and left open to the bottom of the hole within the brine section.

“Final samples have now been undertaken with results expected in the next fortnight to allow for the Easter break,” Galan Lithium said in its ASX announcment.

The company has now commenced drilling drillhole 4 (C‐04‐19), around 3km south of C‐03‐19 and 5.3km south of drill hole C‐01‐19 on CSMAT Line 3.

 

Website: www.galanlithium.com.au

 

Galan Lithium Hits Further Brines With Third Hole

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THE DRILL SERGEANT: Galan Lithium (ASX: GLN) has completed a third drillhole, C‐03‐19, at the company’s Candelas lithium brine project located southeast of the Hombre Muerto salar in Argentina.

Galan Lithium drilled the hole approximately 2.5 kilometres south of its maiden drillhole (C‐01‐19) that provided results including an intercept of 192 metres at 802mg/l lithium with low impurities.

“The geological sequence largely replicates that observed in the maiden drillhole comprising a thick layer of ignimbrite lying below surficial alluvial cover,” Galan Lithium Said in its ASX announcement.

“The hole then encountered a sequence of sands and clays hosting salty waters which then, at approximately 276 metres, turned to brines hosted within a permeable breccia‐ conglomerate and, from 398 metres, within fractured basement.”

Galan Lithium said it would now case the hole and conduct downhole geophysical logging and further sampling of the brine.

Once this has been completed, it anticipates moving the drill rig to a new location to undertake drilling of a fourth drillhole.

The company is also awaiting the permitting for further drillholes at Candelas beyond the initial five holes approved by the Catamarcan authorities.

 

Website: www.galanlithium.com.au

 

Galan Lithium Raises $4M

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THE BOURSE WHISPERER: Galan Lithium (ASX: GLN) announced it has received commitments via a share placement to professional and sophisticated investors to raise gross proceeds of $4 million.

Galan Lithium said the placement received strong support from a range of sophisticated and institutional investors from Australia and North America.

Approximately 14.5 million shares will be issued under the placement at an issue price of 27.5 cents per share.

The company indicated the funds raised will enable it to continue and expand its maiden drilling campaign along the Candelas channel at the Hombre Muerto lithium project in Argentina, commence initial resource work and for working capital purposes.

“We are pleased to have received such strong support from a range of Australian and North American investors, who now join our existing shareholders in aligning themselves to the success we are looking to achieve through our ongoing exploration at the Hombre Muerto lithium project,” Galan Lithium managing director Juan Pablo (JP) Vargas de la Vega said in the company’s announcement to the Australian Securities Exchange.

“We have achieved positive results to date, which we plan to expand through well planned exploration activities.”

 

Website: www.galanlithium.com.au

 

Galan Lithium Drilling Encounters Highly Conductive Brines

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THE DRILL SERGEANT: Galan Lithium (ASX: GLN) announced highly conductive brines have been intercepted in the third drillhole at the company’s Candelas lithium brine project located on the Hombre Muerto salar in Argentina.

Galan Lithium said field measurements had indicated the upper levels of a brine bearing aquifer were encountered in the third drillhole to be drilled at Candelas, C-03-19.

The brine was intercepted from depths of approximately 280 metres to the current depth of approx. 309m.

This hole is located approximately 2.5 kilometres southeast of the maiden drillhole which provided results including an intercept of 192 metres at 802mg/l lithium with low impurities.

The company explained the geological sequence largely replicates that observed in the maiden drillhole incorporating a thick layer of ignimbrite lying below surficial alluvial cover.

The hole then encountered a sequence of sands and clays hosting salty waters which then, at around 280m, turned to brines hosted within a permeable breccia-conglomerate.

“The discovery of further brines within the Candelas channel reinforces our view that the project has the very real potential to host a significant lithium resource in one of the world’s premium salars at Hombre Muerto,” Galan Lithium managing director Juan Pablo (JP) Vargas de la Vega said in the company’s announcement to the Australian Securities Exchange.

The company has also now received assays from this second drill hole (C-02-19) located some 9.5km south of the maiden drillhole that encountered fractured basement at 632m and was completed to a total depth of 662m.

These assays confirm the field observations which indicated a lower grade lithium bearing aquifer interpreted to be due to dilution from hydrothermal waters.

 

Website: www.galanlithium.com.au

 

Galan Lithium Continuing Drilling at Candelas

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THE DRILL SERGEANT: Galan Lithium (ASX: GLN) reported on progress of drilling underway at the company’s Candelas lithium brine project in Argentina.

Galan Lithium informed the market that drillhole (C-02-19) at the Candelas project encountered fractured basement at 632 metres and was completed to a total depth of 662m.

Preliminary field data from a 202m section (from 460 to 662 to the end of hole) returned conductivity levels of a lower order than those the company recorded in C-01-19 but it still expects these to return lithium values albeit at lower levels.

The company’s technical team has interpreted the results to indicate that brines were introduced at depth into the channel from the north with drillhole C-02-19 drilled into a hydrothermally affected area.

Lithium bearing brines lie around the base of the channel in interbedded breccia and conglomerates and infiltrate into fractured bedrock, from which the team has determined hydrothermal activity proximal to C-02-19 may be diluting the aquifer at this location.

“Much has been achieved to date in a short time frame,” Galan Lithium managing director Juan Pablo Vargas de la Vega said in the company’s announcement to the Australian Securities Exchange.

“We are dealing with a unique geological setting for lithium brines and our knowledge of the region increases with the more work we do.

“The lithium potential remains strong for Candelas as it does for our prospective Western tenements at Hombre Muerto.”

 

Website: www.galanlithium.com.au

 

Galan Lithium Claims Argentina Lithium Discovery

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THE DRILL SERGEANT: Galan Lithium (ASX: GLN) claimed a new lithium discovery based on results from the first samples taken from the maiden drillhole (C‐01‐19) at the company’s Candelas lithium brine project in Argentina.

Galan Lithium indicated the ongoing drillhole is currently at 354 metres having encountered a substantial intercept of brine from depths of approximately 235m to 354m within coarse clastic sediments to 311m and fractured basement lithologies from 311m to 354m.

The exploration program is being led by the company’s chief geologist, Francisco Lopez, with onsite QA/QC control and technical support provided by Camilo de los Hoyos from SRK Consulting (Argentina) a specialist in hydrogeology and in the exploration of lithium brines.

Hoyos declared the initial results as exceptional, adding they confirm the presence of high‐grade lithium bearing brines within a geological setting unique to the Hombre Muerto salar.

“Preliminary field measurements and laboratory analyses on brine suggests that the Candelas project has the potential to become a world‐class soluble lithium deposit hosted in a unique geological setting,” Hoyos said in Galan Lithium’s announcement to the Australian Securities Exchange.

“Further results from exploration must be assessed step by step to define matrix specific yield and hydraulic conductivity, brine quality and aquifer geometry.”

Acknowledging that the exploration is in its early days, the company said it was greatly encouraged by this initial success and now awaits confirmation of these results from further samples and testing.

Galan will aim to fast track the exploration at Candelas with the goal of targeting a resource as soon as practicable.

Th e current maiden drill program is planned to comprise five holes drilled along the approximate 15-kilometre extent of the Candelas channel.

“To encounter lithium grades of this tenor with low impurities in our first hole is remarkable and has given us further encouragement that the Candelas project has the potential to host a significant resource of lithium bearing brines,” Galan Lithium managing director Juan Pablo Vargas de la Vega said.

 

Website: www.galanlithium.com.au

 

Galan Lithium Hits Brines with First Drillhole

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THE DRILL SERGEANT: Galan Lithium (ASX: GLN) informed the market of its encounter with a substantial intercept of brine from its maiden drillhole at the company’s Candelas lithium brine project, located on the Hombre Muerto salar in Argentina

Galan Lithium reported the hole, C‐01‐19, encountered the intercept from depths of approximately 235 metres to a depth of approximately 300m.

The company explained the hole had initially intersected around 9m of alluvial cover before intersecting a thick layer of ignimbrite (a volcanic pyroclastic flow) to 165m and went on to meet a sequence of sands and clays hosting salty waters which then, at about 235m, turned to brines hosted within coarse clastic sediments including a breccia‐conglomerate.

Conductivity measurements from brine samples exceeded the 200 milli siemens/cm limits of the field recording instrument.

Galan Lithium said the early results from its first hole drilled at Candelas had confirmed its geological model that brine does exist within the feeder channel into Hombre Muerto and that it was obviously in the early stages of exploration at the project it was greatly encouraged by this initial success and now awaits confirmation that the brine is lithium bearing from preliminary samples which are to be transported to the laboratory in Argentina.

Samples will also be collected and sent to the USA for porosity test work particularly to determine specific yield (drainable porosity).

Should the testwork confirm expectations then Galan will aim to fast track the exploration at Candelas with the aim of targeting a resource as soon as practicable.

This current maiden drill program is planned to comprise five holes drilled along the approx. 15-kilometre extent of the Candelas channel.

“We are delighted that we have successfully encountered this amount of brine in ideal host sediments in our very first drillhole at Candelas,” Galan Lithium managing director, Juan Pablo Vargas de la Vega said in the company’s announcement to the Australian Securities Exchange.

“Whilst we still await confirmation that the brine is lithium bearing, the fact that brines even exist in an area not previously thought to be prospective is particularly pleasing and augers well for the continued exploration of the 15-kilometre long channel at the project.”

 

Email: admin@galanlithium.com.au

Website: www.galanlithium.com.au