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Galan Lithium Limited

Galan has been successful in securing a strategic position in the Hombre Muerto salar – a low cost producer with neighbouring lithium heavy weights either in production or developing new projects. Galan’s lithium targets are prospective and require drill testing to confirm that conductive zones identified from geophysical surveys are indeed lithium bearing saturated brines.

  • Galan Lithium (formerly Dempsey Minerals) has refocused on lithium exploration and development by securing a significant lithium project in Argentina – the Hombre Muerto Lithium Project.

  • The Hombre Muerto Salar (salar = salt lake) is a prestige location with neighbours including FMC, Galaxy and Posco. FMC has been producing lithium from the salar for 27 years and Galaxy recently announced the sale of a portion of its tenements to Posco for US$280m to finance its own Sal de Vida project further south on the salar.

  • Galan’s tenement package includes the Candelas project covering the Los Patos Channel immediately south of Galaxy’s Sal de Vidaproject and also a number of tenements in the  Western Basin area which surround FMC’s lithium operations.

  • The Candelas project is a significant lithium target as the Los Patos channel is interpreted to have been the conduit for approximately 80% of the lithium present in the Hombre Muerto salar.

  • Geophysics carried out by Galan on the Los Patos channel has identified substantial thicknesses (150m to +400m) of conductive sediments and volcaniclastics within the channel and which have independently interpreted to be saturated with lithium rich brines. With a 15 km channel length and 3 to 5 km wide the total prospective area is around 6,000 ha.

  • Next steps involve drilling to test the sediments in the channel later in 2018. This is a major milestone as confirmation that saturated brines occur in this large target with economic lithium grades will drive a major re‐rating in the Company.

  • Overall, if the exploration is successful, Galan could provide an opportunity for a major new entrant into the lithium space in a proven lithium producing area.

Galan Lithium is an ASX listed (ASX: GLN) Company which has recently changed its name from Dempsey Minerals in August 2018 with a change in focus towards lithium exploration. In line with the name change, the Company has also recently acquired the rights to earn 100% interest in projects located in the Hombre Muerto salar...

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More details about Galan Lithium Limited

Official website: https://galanlithium.com.au/

ASX on Hotcooper: http://hotcopper.com.au/asx/GLN