- Galan Lithium (GLN) is gearing up for exploration at its recently acquired 80 per cent stake in the Greenbushes South Lithium Project in WA
- Fieldwork activities are expected to commence at the project, which sits three kilometres south of the prospective Greenbushes mine, in the coming weeks
- Work includes mapping and rock chip and soil sampling
- The announcement comes just days after the explorer wrapped-up its acquisition for an 80 per cent interest in the project from Lithium Australia (LIT)
- Galan shares are down 4.63 per cent on the back of the announcement, trading at 51.5 cents each
Galan Lithium (GLN) is gearing up for exploration activities at its recently acquired 80 per cent stake in the Greenbushes South Lithium Project in WA.
The explorer says it has formulated a work plan for the project, with fieldwork programmes including mapping, rock chip and soil sampling set to kick off over the coming weeks.
The news comes just days after Galan wrapped up its joint venture acquisition with Lithium Australia (LIT), under which GLN entered a sale and joint venture for an 80 per cent interest in the Greenbushes South Lithium Project.
Galan is expected to solely fund joint-venture expenditure share until a preliminary feasibility study has been completed.
The Greenbushes Lithium Project in West Australia — which is owned by Talison Lithium — is considered to be the largest hard-rock lithium mine in the world.
The company's Greenbushes South Lithium Project sits approximately three kilometres south of the mine and is considered to have a low level of exploration maturity, with no available lithium drilling results.
GLN has referenced the numerous MINDEX (a spatial and textual database on data on mining and exploration sites in WA) occurrences of lithium, beryl, tin feldspar tourmaline and mica in the project area, as potential indicators of lithium mineralisation.
Galan shares are down 4.63 per cent on the back of the announcement, trading at 51.5 cents each at market close.