Galan picking up more lithium ground at Hombre Muerto West
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Galan has expanded the footprint of its Hombre Muerto West lithium brine project after executing an option agreement to acquire the Casa Del Inca III tenement.
The acquisition of up to 900-hectare tenement will increase flexibility for the company by providing more ground for pond location and infrastructure such as camp and processing plant.
Galan Lithium (ASX:GLN) has agreed to acquire an initial 300ha of land for US$150,000
Casa del Inca III abuts the company’s Pata Pila interest, which shares the same geology setting forming part of the suite of tenements that comprise the HMW project.
“This strategic project acquisition by Galan consolidates its Hombre Muerto West project with an extension of the concessions from Catalina to Pata Pila and onwards to Casa del Inca III,” managing director JP Vargas de la Vega said.
“This provides Galan with the opportunity to quickly build additional scale to its already significant brine resource and tenure in the region.”
Hombre Muerto West and the new Casa del Inca III tenement are located within the world-class, Salar del Hombre Muerto, where Livent Corporation is currently producing lithium carbonate and Galaxy Resources (ASX:GXY) is developing its Sal de Vida project.
The project currently hosts a resource of 2.3 million tonnes of lithium carbonate equivalent.
Laboratory testing recently proved that battery-grade lithium carbonate can be produced from lithium concentrate sourced from Hombre Muerto West.
Additionally, a review of its preliminary ponds design layout confirmed the robustness of the evaporation design, which could lower capital expenditure for Hombre Muerto West.
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.