Lithium explorer Galan Lithium (ASX: GLN) has continued its good run of form in Argentina, intercepting highly conductive heavy brines from their maiden drill hole at Pata Pila, their second Lithium prospect.
The drilling at Pata Pila which forms part of Galan’s Western Basin projects located within South America’s lucrative Lithium Triangle, follows up Galan’s high-grade brine confirmations at their Candelas prospect on the south-east end of the basin where the company anticipates declaration of a maiden resource estimate in Q3 2019.
With recent experience drilling at Candelas, Galan elected to drill to greater depths at Pata Pila testing for the presence of postulated sand horizons overlying the basement which could potentially host further brine, which has proven to be successful with two further brine aquifers encountered.
The maiden drill hole at Pata Pila is currently at a depth of 647 metres and has intercepted three major brine horizons, all containing heavy brines with specific gravity readings >1.20 and conductivities >200 mS/cm.
Between Pata Pila and Candelas lies the valuable El Fenix lithium project, owned by Livent Corporation (NYSE: LTHM), where heavy brines may extend into Galan’s tenement.
“The discovery of heavy brines not only in the Livent production aquifer but also from two new previously unknown aquifers at Pata Pila is beyond our expectations,” said Galan Lithium Managing Director, Juan Pablo Vargas de la Vega.
“We are very excited by the potential of Pata Pila to host a significant lithium brine resource and are confident that Galan has the potential to increase its lithium resource inventory beyond the maiden Candelas resource estimate due this month.”
Previously named Dempsey Resources, Galan underwent a rebrand to their current name in August 2018 after acquiring the projects from Blue Sky Lithium in June 2018. Since then, the Company has made solid progress on the ground, most recently appointing South American lithium expert Daniel Jiménez Schuster to their board.
Galan currently has a Share Purchase Plan open to eligible shareholders and is seeking to raise up to $1,000,000, closing 13 September 2019, to fund a pre feasibility study at Candelas.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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