Galan Lithium has green light to begin drilling at Western Basin projects
Galan Lithium公司在Candelas的PEA为该项目提供了12.25亿美元的未杠杆税前净现值。
Lithium brine explorer Galan Lithium (ASX: GLN) has secured the necessary permits to begin drilling at its Western Basin projects located in Argentina’s Hombre Muerto salar, with access work already underway.
The permits allow Galan to drill 14 holes plus five water bores within 18 months and follow from the companies resource drilling at the nearby Candelas project, which is in the south-east region of its Hombre Muerto tenements.
Drilling at the Western Basin will target anomalies identified from a controlled source audio-frequency magnetotelluric (CSAMT) survey that was completed in September last year.
The primary anomalies include Pata Pila which extends about 2km and Rana del Sal which revealed a highly conductive response over 1.5km.
Hombre Muerto salar
According to Galan, the Hombre Muerto salar hosts the highest-grade lithium brine deposits in Argentina with the lowest impurity levels.
Known projects on the salar include NYSE-listed Livent Corporation’s El Fenix operation and Galaxy Resources (ASX: GXY) and POSCO’s Sal de Vida project.
Galan holds six projects encompassing 25,000 hectares across the salar with Candelas the company’s primary focus.
The maiden drill hole at Candelas was 192m at 802 milligrams per litre lithium, with “very low” impurities.
In the latest eighth hole, 70.4m at 744mt/l lithium was intersected.
“We are delighted with results from hole eight and now have a fuller picture of Candelas that shows high-grade continuity over a large area in the northern section of the channel,” Galan managing director Juan Pablo said.
“With this new data, Galan will now commence work on its maiden JORC compliant resource estimate for the northern portion of Candelas which is on track for delivery in Q3 this year.”
“The resource will form the basis for our pre-feasibility study which will investigate conventional technologies and be complemented with results from brines already sent to international laboratories to test new lithium extraction technologies.”
In exploring the Western Basin, Mr Pablo added that the area had the potential to provide a new production front for the company.
Galan’s shares had lifted 2.63% to reach $0.195 in mid-morning trade.