Galan Lithium to kick off drilling program at Candelas
South America-focused explorer, Galan Lithium (ASX:GLN), will begin its maiden drilling program at the Candelas Lithium Brine Project this week.
GLN is exploring for lithium brines within South America’s Lithium Triangle on the Hombre Muerto salar in Argentina. Hombre Muerto is proven to host the highest grade and lowest impurity levels within Argentina and is home to Livent Corporation’s El Fenix operation and Galaxy Resources and POSCO’s Sal de Vida projects.
Galan has engaged Canada-based Major Drilling to perform its diamond drilling campaign at the site. Major Drilling has extensive experience in drilling salt flats for brine in Argentina and the surrounding areas.
On top of that, GLN has also contracted the services of SRK Australia (with support from their offices in Argentina) to oversee resource definition, QA/QC and review work over the project area, with a view to potentially generate a JORC-compliant resource estimation.
GLN remains firmly committed to sourcing, contracting and training local residents from the Catamarca Province for its operations. As part of this process, some residents have been trained by Major Drilling to assist in the operations, which has led to the slight delay in commencing the drilling program.
The maiden drilling campaign will test the geophysical model, which was developed by the company and its consultants, and is planned to provide detailed data on the stratigraphy within the Candelas channel.
Initial drill hole results will assist in the planning of subsequent drilling, with the maiden program to comprise of five holes, drilling along the ~12-15km extent of the Candelas channel.
GLN managing director, Juan Pablo Varga de la Vega, commented on the update: “We are excited to commence our maiden drilling at Candelas. The team in Argentina is well experienced in the exploration for lithium bearing brines and is focused on providing the company with the best chance to prove our thesis that Candelas can host commercial levels of lithium similar to our neighbours at Hombre Muerto.”
Short-term positions in small, early stage ASX companies,
with high potential and near term price catalysts.
Focusing on resource exploration, early-stage tech, and biotech.
Exceptional opportunities across a broad range of
early-stage growth sectors with strong management.
Seeking 1,000% plus returns across medium to long-term holds.
Longer-term positions in a variety of sectors.
Seeking strong management where traction is established and have entered into a growth phase.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.