Next Investors logo grey

Galan Lithium to kick off drilling program at Candelas


Published 22-JAN-2019 11:45 A.M.


2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

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.”

The diamond drilling rig arrives at the Candelas Project, Hombre Muerto

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (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 and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.