Galan Lithium’s Candelas lithium brine project in Argentina continues to impress with latest drilling results confirming high-quality brines over at least 3.5km strike at the northern end of the project.
The junior explorer (ASX : GLN) has successfully completed its stage two drilling program at Candelas and now has enough drill information to conduct a maiden resource for the northern end of the project which is on target for release in the current quarter.
Laboratory results were received for drill hole five (C-05-19), six (C-06-19) and seven (C-07-19), with brine samples from drill hole eight (C-08-19) currently being forwarded to the laboratory.
The results confirmed high-quality brines occur over at least a 3.5km strike extent at the northern end of Candelas with holes one, three, five and six all with >500mg/l Li ranging from 510-802mg/l Li and hole eight giving similar indications from field testwork.
Importantly, results continue to show exceptional low levels of impurities with Mg/Li < 3, which are in line with those observed at the nearby Livent project (NYSE: Fenix) and Galaxy Resources’ (ASX: GXY) Sal de Vida project.
“We are very pleased to have advanced Candelas this far in such a short period of time, with our local team continuing to deliver despite recent adverse weather conditions,” Galan Lithium Managing Director Juan Pablo (“JP”) Vargas de la Vega said.
“Our maiden JORC resource estimate for the northern portion of Candelas is on track for Q3 2019, with a PFS to commence soon after.
“We are also looking forward to drilling our targets in the Western basin at Hombre Muerto, which represents another exciting opportunity for Galan.”
Resource estimation work will now begin while drilling activities have been paused for 2-3 weeks as the company awaits drilling permits for the Western Tenements. The Company is also looking to prepare for the start of a Pre-Feasibility Study into the potential development of the project.
Shares in Galan were trading at 19.5c on Tuesday.