Galan Lithium (ASX:GLN) - Managing Director, Juan Pablo Vargas de la Vega
Managing Director, Juan Pablo Vargas de la Vega
Source: The Market Herald
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  • Galan Lithium (GLN) has completed a data review at the Greenbushes South Lithium Project in Western Australia
  • The company has reviewed the historical CSIRO data, which has indicated prospectivity at the project
  • Results confirmed the feasibility to explore for a concealed deposit of this style of mineralisation
  • On the market this morning, Galan is up 4.79 per cent and is trading at 76.5 cents per share

Galan Lithium (GLN) has completed a data review at the Greenbushes South Lithium Project in Western Australia.

The company has reviewed the historical CSIRO data, which has indicated prospectivity at the project.

Data has defined geochemical anomalies within the laterite soils across the Greenbushes region.

This study confirmed the feasibility to explore for a concealed deposit of this style of mineralisation.

Galan will now increase this data set by expanding the coverage of soil sampling on the historical data sets.

The Greenbushes Project is located 200 kilometres south of Perth and is a joint venture project with Lithium Australia (LIT).

LIT holds 20 per cent of the project and holds over 1.2 million shares in Galan.

“Historical geochemical assays of pisolitic laterites surrounding the Greenbushes deposit indicate well defined multi-element dispersion from the source of the outcropping mineralised pegmatites,” Galan’s Competent Person Dr Luke Milan said.

“Additional soil sampling within the current holdings is planned to augment the current data set to delineate any potential along strike extension of the Greenbushes deposit to the south,” he added.

On the market this morning, Galan is up 4.79 per cent and is trading at 76.5 cents per share, while LIT is in the grey, trading at 12.5 cents each at 11:49 am AEST.

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