Galan receives promising early stage lithium brine results from Candelas

By Trevor Hoey. Published at May 29, 2019, in Mining

Galan Lithium Limited (ASX:GLN) has received initial assays from its fifth drill hole at the Candelas lithium brine project located in Catamarca province, Argentina.

The drill hole is located approximately 2.5 kilometres south of the maiden drill hole which provided outstanding results, including an intercept of 192 metres at 802 mg/l Li with low impurities.

Laboratory results for the fifth hole indicate robust lithium grades from the brine horizon from 220 metres to 380 metres, ranging from 491 mg/l to 856 mg/l.

Impurity levels continue to return low values with Mg:Li of approximately 2.6, similar to those observed at the nearby Livent’s (NYSE:Fenix) and Galaxy Resources’ (ASX:GXY) Sal de Vida operations.

Keeping up with the neighbours

As a backdrop, Galan 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’s primary target is the adjoining Candelas channel target, a wide valley filled channel approximately 15 kilometres long and between three and five kilometres wide.

Recent geophysics and drilling indicate the potential for this target to host a substantial volume of brine.

Heavy wintry weather has recently delayed operations and final sampling onsite from the fifth hole, and as such further information regarding the remainder of testing could yield even better results.

However, as we previously highlighted and as illustrated below, lab results to date point to further promising news as they indicate good lithium grades from the brine horizon from 220 metres to 380 metres, ranging from 491 to 856 mg/l lithium.

Hole six data could be another catalyst

Drillhole C-06-19 was also recently completed to a depth of 422 metres after encountering basement at 419 metres.

Field results conducted before operations had to cease encountered brines with SG ranging from 1.09 to 1.13 for the last 42 metres of the hole, with the higher SG met at the top of the 42 metres section.

Upon re-commencement of operations, sampling will be completed on the fifth hole and new ascending tests will be performed on the sixth hole to delineate the brine horizon and its total thickness.

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.

Publishers Notice

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.

Thanks for subscribing!

X