Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to announce a material increase in its JORC (2012) Mineral Resource estimate for its 100% owned Candelas Project (Candelas or the Project) located in the Catamarca Province, Argentina. Galan engaged SRK Consulting (Australasia) Pty Ltd (SRK) to update the Mineral Resource Estimate (MRE) of Lithium Carbonate Equivalent (LCE) and potassium chloride equivalent (KCl).
- 100% owned Candelas Mineral Resource grows by more than 150% to 1.6Mt LCE.
- Galan’s Hombre Muerto resource position (9.5 Mt LCE) places it within the top 10 of lithium construction and production projects globally (1)
- Material increase at Candelas provides greater optionality in commercialising the Project
- Significant upside potential also identified to further enhance the latest Candelas Mineral Resource
In late 2024, Galan completed surface mapping and undertook additional geophysics over Candelas and its surrounding environs. Based on this additional geoscience data, SRK remodelled the hydrogeological domains and re-estimated mineral resources for lithium, potassium, LCE, and KCl (potash), leading to the material increase in the Candelas MRE Estimate (Table 1).
Managing Director, Juan Pablo (JP) Vargas de la Vega, commented:
“Applying sound geoscientific knowledge and modern exploration techniques to a world-class lithium resource has continued to deliver outstanding results for Galan. We identified the potential to add significant value-accretive LCE tonnes at Candelas on a very modest budget and have delivered on that opportunity.
On behalf of the Board and myself, I would like to thank our team and our consultants. With this material resource growth, Galan now sits within the top 10 lithium production and construction projects, by Mineral Resource, which is an unbelievable achievement from our maiden resource generated in 2019.
Our resources are focused on finalising the Phase 1 financing and offtake process followed by completion of the Phase 1 construction and operations at HMW.”
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