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Galan Lithium Added to the MSCI Global Index
May 19, 2021
Galan Lithium Limited (ASX:GLN) (Galan or the Company) is pleased to announce that it has been added to the MSCI (Morgan Stanley Capital International) Australia Micro-Cap Index.
Global market index provider MSCI, designed this index to measure the performance of the micro-cap segment of companies traded on the Australian Securities Exchange.
The advantages on the admission to the MSCI index for Galan are increased exposure to global institutions, broader exposure to worldwide investment markets, increased liquidity and further access to capital sources.
MSCI indexes are reviewed quarterly and rebalanced twice a year. Stocks are added or removed from an index by analysts within MSCI to ensure that the index still acts as an effective equity benchmark for the market it represents. The changes to the MSCI Global Micro-Cap Indexes will take place as of the close of business on 27 May 2021.
29 July 2021
Galan Lithium's Quarterly Activities Report JUNE 2021
The Board of Galan Lithium Limited ("Galan" or "the Company") is pleased to provide this Quarterly Activities Report for the quarter ended 30 June 2021 to the date of this report. The main focus for the quarter was the commencement of foundation feasibility works and the completion of proof-of-concept laboratory testing for its low carbon footprint brine evaporation process at its flagship Hombre Muerto West Project located in the South American Lithium Triangle in Catamarca, Argentina.
HIGHLIGHTS
- Foundation works begin to accelerate the commencement of Feasibility Studiesat Hombre Muerto West (HMW) Project
- SRK Consulting (Australia) to commence resource to reserve works
- WSP Group appointed to support hydrogeological model at HMW – team includes ex SQM hydrogeologist
- Proof of concept laboratory test of HMW Project's Lithium Carbonate Equivalent(LCE) achieves 99.88% of purity (min requirement of battery grade quality is>99.5% LCE)
- Further Greenbushes South field work completed – two extra licences granted• Option to purchase key tenement executed• Galan donates five (5) ventilators to the local health authorities in Catamarca, Argentina
- Company continues to adhere to Covid-19 protocols in Argentina, Chile andAustralia with employee's health and safety our number one priority
- Imminent commencement of scoping study for Candelas Project also located inthe Hombre Muerto West salt flat
- Cash on hand at end of quarter was $15.5m ($14.9m - 31 March 2021)
OPERATIONS
Hombre Muerto West
As announced on 17 May 2021, the Company commenced early foundation works for its feasibility study at its flagship Hombre Muerto West (HMW) Project located in the South American lithium triangle in Catamarca, Argentina.
Resource to Reserves
The Company has recently appointed WSP Consulting Chile (WSP) and SRK Consulting (Australia) Pty Ltd (SRK) in respect of transforming the huge HMW resource into reserves, the main foundation for its feasibility study.
WSP will provide support and design work, including production wells, for different aspects related to the hydrogeology of the HMW tenements located in the Hombre Muerto Salar Basin. WSP's team includes two former SQM employees who have a long history working with lithium brines.
SRK, in association with WSP, will review the current resource estimate and then undertake reserve conversion work for the HMW project.
Drilling at HMW fill follow up soon after the design and location of the wells is confirmed. Galan is in advanced discussion with drilling companies to execute the programme.
On 12 July 2021, Galan announced exciting proof of concept test work results for the precipitation of battery grade lithium carbonate product at its HMW Project.
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19 July 2021
Galan to Initiate Candelas Scoping Study
Galan Lithium Limited (ASX: GLN) (Galan or the Company) is very pleased to announce the imminent commencement of a scoping study for the Company's Candelas project (see Figure 1). Candelas is Galan's second key project and is also located on Hombre Muerto West salt flat (on the southeast) in the well-known South American Lithium Triangle in Catamarca, Argentina.
Highlights:
• Candelas' brine concentrate modelling shows results up to 6%Li. Similar to Hombre Muerto West (HWM) concentrate with low impurities
• Galan to commence a Scoping Study building from the learnings at HMW's PEA Study (released 21 Dec 2020) with an in-house team and Ad-Infinitum
• Results expected during Q4 2021
• All other activities at HMW for its Feasibility Study to continue as planned
The scoping study for the Candelas Project will be performed by Galan's in-house engineering team whilst Ad-Infinitum in Chile will oversee the chemical processing and other relevant study sections. The study is expected to be finalised during Q4 2021.
Galan's Managing Director Juan Pablo (JP) Vargas de la Vega said "We are very pleased with Candelas' modelling results for its lithium chloride concentrate. Results are showing that it can reach up to 6%Li with a low impurity setting which can provide commercial flexibility to production. To date, we have accumulated a significant amount of data from our detailed studies and testing at HMW which gives us the confidence to take Candelas into the scoping study phase. This next step is a natural step to complement our lithium inventory from the same salt flat with an aim to adding further value by investigating an increase in production levels for Galan."
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