Acquisitions confirm Hombre Muerto West as a ‘genuine lithium development’
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Special Report: Galan Lithium’s (ASX:GLN) expanded Hombre Muerto West tenements are expected to host a high grade lithium resource ~7.5km long, up to ~2.5km wide and 718m deep.
Galan is developing its Hombre Muerto West project in Argentina’s Hombre Muerto salar (salt flat), the world’s second best salar for the production of lithium from brines after the Atacama salar in Chile.
This is where Livent Corporation (NYSE:LTHM) is currently producing lithium carbonate and Galaxy Resources (ASX:GXY) and South Korea’s POSCO are developing their independent Sal de Vida projects.
Hombre Muerto West (HMW) already has a high grade, low impurity inventory of about 1.4 million tonnes lithium carbonate equivalent (LCE) at about 946 mg/l Li.
This inventory has enabled Galan to kick off project development studies, with a preliminary economic assessment (PEA)/scoping study due for release by the end of this quarter.
But this resource is about to get bigger with the purchase of the neighbouring Del Condor and Pucara lithium brine salar projects.
HMW is now consolidated and expected to host a resource with a continuous polygon of ~7.5km strike, up to ~2.5km in width and up to 718m in depth, Galan says.
The company will now update the resource on HMW to include the new Del Condor and Pucara concessions.
A geophysical survey is also expected to be undertaken in the first quarter of 2021 to investigate further exploration upside.
“HMW is now a significant polygon, the acquisition and the annex of these new tenements consolidates the project as a genuine lithium development in Argentina,” Galan managing director JP Vargas de la Vega says.
“We look forward to receiving the Resource Update from SRK and including the new data into our PEA/Scoping Study due in Q4 2020.”
This article was developed in collaboration with Galan Lithium, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.