The Conversation (0)
The Board of Galan Lithium Limited (Galan or the Company) is pleased to provide an update on the newly secured Catalina tenure, and its strong potential to significantly add to the existing HMW Resource. As announced on 28 July 2023, Galan has consolidated the Catalina tenure, which also covers the Catalina, Rana de Sal II, Rana de Sal III, Pucara del Salar, Deceo I and Deceo II tenements (see Figure 1).
- Recently consolidated tenure overlaps with 5,954 hectares of existing HMW tenements in Catamarca, and adjacent to the existing HMW Resource.
- Data from existing exploration by Galan strongly validates the positive prospectivity of the consolidated area. Galan’s well PS-01, located approx. 500m south of the newly consolidated area, ranges 953 to 988 mg/L Li, with explored depth of 300m, still open at depth.
- As a result of the consolidation, Galan anticipates a Resource target (1) of between 500kt and 1.5Mt LCE ranging 953 to 988 mg/L.
- The consolidated tenure is also an area that is favourable for future pond construction.
Galan’s Managing Director, Juan Pablo Vargas de la Vega, said:
“This important transaction comes at a pivotal time for consolidating and securing Galan’s tenure at HMW. Our geological and hydrogeological information has identified this new target area as an exciting opportunity to increase our actual resource footprint, providing exceptional conditions for both brine quality and productive yield.
Existing exploration data on the HMW area, located on the southern limit of the consolidated area, provides an excellent foundation for Resource expansion at HMW.
Furthermore, exploration has now already commenced on this tenure. We expect the future production phases of our HMW project (Phases II, III and IV) will be cemented by the expected resulting resource expansion.”
Figure 1. Secured consolidated tenure (blue polygon) in relation to actual HMW brine Resource footprint and existing exploration well PS-01.
In June 2023, a team of structural geologists completed a field campaign at the Hombre Muerto West project. The key aim was to map the structural controls of the regional geology to build a geological model and create a detailed geologic map of Galan's northern fractured rock domain (NFRD). Four (4) major fault zones were defined from the collection of bedrock measurements, geomorphological analyses and syntheses of previous drilling results.
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This article includes content from Galan Lithium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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