ASX:GLN

Galan Acquires Option to Purchase Key Tenement at Hombre Muerto West

Galan Lithium Limited (ASX:GLN) (Galan or the Company) is pleased to announce that it has executed a binding Option Agreement (Agreement) with a private Argentinian individual for the purchase of the right to earn a 100% interest in the Casa Del Inca III lithium brine tenement. The acquisition increases and consolidates our Hombre Muerto West (HMW) project footprint located in the South American Lithium Triangle in Catamarca, Argentina (Figure 1).


  • Option to purchase strategic new tenement executed
  • Right to acquisition increases flexibility and more area for pond location and infrastructure such as camp and processing plant for HMW
  • Potential to increase lithium resource to be assessed with geophysics work to follow

Galan has agreed to initially acquire 300ha for a total of US$150,000 with the initial deposit of US$80,000 being paid.

Figure 1 shows that the project abuts the east side of the Pata Pila tenement and highlights the initial 300ha to be purchased under the Agreement plus the total 900ha, if required.

Casa del Inca III is located within the world-class, Salar del Hombre Muerto, where Livent Corporation (NYSE:LTHM) is currently producing lithium carbonate and Galaxy Resources Limited (ASX:GXY) is developing its Sal de Vida project. More importantly, it abuts Galan's Pata Pila interest, which shares the same geology setting forming part of the suite of tenements that comprise the HMW project. The HMW project currently houses a high-grade, low impurity lithium brine resource of ~2.3Mt LCE @ 946mg/l Li.

JP Vargas de la Vega, the Galan Managing Director said, 'This strategic project acquisition by Galan consolidates its Hombre Muerto West project with an extension of the concessions from Catalina to Pata Pila and onwards to Casa del Inca III. This provides Galan with the opportunity to quickly build additional scale to its already significant brine resource and tenure in the region.



Figure 1: Location of Casa del Inca III concession (300ha in blue; 900ha dotted) and GLN's concessions (in red)


Click here for the full ASX release

GLN:AU
The Conversation (0)
Galan Lithium

Galan Lithium


Keep reading...Show less
Lithium periodic symbol and powder overlayed with world map.

Top 4 Largest Lithium Reserves by Country

Those interested in the lithium sector and investing in lithium stocks are often curious about which countries are the top producers of the battery metal, but they may not stop to consider the top lithium reserves by country.

Major lithium-producing countries are, of course, home to a large number of lithium companies. Many of the world’s top lithium producers also hold significant reserves, and their reserves can give an idea of how much room those countries have to grow. At the same time, nations with high reserves may become more significant lithium players in the future.

Looking forward, lithium demand is expected to continue increasing. That’s because, together with metals such as cobalt, lithium is a key raw material in the lithium-ion batteries used to power electric vehicles, and it is also essential for the energy storage sector.

Keep reading...Show less
Silver square with the lithium periodic symbol standing upright next to lithium metal.

Top 9 Lithium-producing Countries

Interest in lithium continues to grow due to its role in the lithium-ion batteries that power electric vehicles (EVs). As a result, more and more attention is landing on the top lithium-producing countries.

About 80 percent of the lithium produced globally goes toward battery production, but other industries also consume the metal. For example, 7 percent of lithium is used in ceramics and glass, while 4 percent goes to lubricating greases.

According to the US Geological Survey, lithium use in batteries has increased in recent years due to the use of rechargeable batteries in portable electronic devices, as well as in electric tools, EVs and grid storage applications.

Keep reading...Show less
Jindalee Lithium CEO Ian Rodger.

Jindalee Lithium Secures Funding to Advance One of the Largest Lithium Deposits in US

Jindalee Lithium (ASX:JLL,OTCQX:JNDAF) CEO Ian Rodger delves into the company’s strategy following the sale of a non-core asset and the significance of this transaction for the future development of Jindalee's flagship McDermitt lithium project in Oregon, US.

Watch the full interview with Ian Rodger, CEO of Jindalee Lithium, above.

Rapid Lithium

Investor Presentation Acquisition of the Strategic Prophet River Ge-Ga Project

Prophet River, British Columbia, Canada – Brownfields Exploration Project Strategic Metals – Germanium and Gallium

Rapid Lithium Limited (ASX:RLL) has announced Investor Presentation Acquisition of the Strategic Prophet River Ge-Ga Project.

Keep reading...Show less
Jindalee Lithium

Jindalee Realises $2.75M from Sale of Non-Core Asset

Jindalee Lithium Limited (Jindalee, the Company; ASX: JLL, OTCQX: JNDAF) advises that the Company has sold its shareholding in Dynamic Metals (ASX: DYM, Dynamic), raising $2.75M before costs.

Keep reading...Show less

Latest Press Releases

Related News

×