- Galan has found “exceptional” grades of lithium at its Hombre Muerto project, Argentina
- Grades exceeding 900 milligrams per litre were identified, making it some of the highest ever discovered in the country
- The company’s Managing Director said the project has potential to be one of the highest-grade lithium brine projects in the world
- Galan’s share price has fallen flat today after a spike in early trade. Shares in the company are currently worth $0.20 each
Galan informed the market this morning it has found “exceptional” grades of lithium at its Hombre Muerto project in Argentina.
Grades in excess of 900 milligrams per litre were identified, which according to the company, is some of the highest recorded grades ever in the country.
The grades were intercepted as part of a maiden drill program at the Pata Pila drill hole. Brine zones ranging from 25 metres to 258 metres in thickness were encountered.
Commenting on the high grades and low impurities of lithium at the project, Managing Director of Galan, Juan Pablo Vargas de la Vega said: “Pata Pila has the potential to be one of the highest-grade lithium brine projects in the world.”
Based on the new discoveries at Pata Pila, Juan Pablo believes its lithium resource will exceed the company’s Candelas project, which has been a main focus of exploration. Candelas is also located at Hombre Muerto.
There are six project areas at Hombre Muerto, spanning 25,000 hectares. The project has been given a 20 year lifespan.
Further double packer tests will be undertaken following downhole geophysics, which is currently underway.
Galan’s share price has fallen flat today after a spike in early trade. Shares in the company are currently worth $0.20 each, as of AEST 12:10 pm.