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Galan’s Candelas delivers more high-grade lithium brines - The Pick Online Magazine

Written by Staff Writer | Jul 22, 2019 1:58:54 PM

Galan Lithium (ASX:GLN) has reported high-grade, low impurity lithium brines in the northern portion of the Candelas project in the Catamarca province of Argentina as it gears up for a maiden resource estimate in the current quarter.

The junior gained as much as 6% in today’s trading after reporting 70.4m @ 744mg/l Li from the eighth drill hole of its maiden drilling program, confirming lateral brine extension and high-grade continuity in the northern end of the Candelas basin.

The drill hole confirmed the presence of high-grade lithium close to the eastern boundary of the Candelas basin, indicating a minimum 3.5km strike and 2.5km width.

Importantly, the results continue to show exceptional low levels of impurities with Mg/Li ratios <2.8, in line with those observed at nearby projects.

“We are delighted with results from hole 8 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 Lithium Managing Director, Juan Pablo (“JP”) Vargas de la Vega 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,” he added.

A maiden resource estimate for Candelas remains on track for delivery in the current quarter.

SRK Australia will be visiting Candelas this week as part of their ongoing oversight of the project and to initiate the Mineral Resource Estimation process.

Galan will now continue pumping tests to ensure quality control, whilst awaiting maiden drilling permits at the western tenements.

Shares in Galan were last trading at 16.5c, up 3%, in Monday trade.