Galan Lithium Limited (ASX: GLN) has announced a further consolidating increase to its JORC (2012) reported MRE for the Hombre Muerto West Project located in Catamarca Province, Argentina.
Commenting on the significant resource upgrade, Galan’s managing director, Juan Pablo (JP) Vargas de la Vega, said: “This latest significant upgrade in the high grade, low impurity HMW resource highlights the potential enormity of the brine resource that sits within Galan’s 100% owned tenements in Argentina. The initial HMW resource in March 2020 was 1.08Mt LCE @ 946mg/L Li, upgraded in May 2023 to 6.6Mt LCE @ 880mg/L Li. This has now been increased a further ~20% to a tier one size of 8.6Mt LCE at 859mg/L Li, with the inclusion of our Catalina tenements.
The revised MRE was completed by a team of leading independent geological consultants, WSP Chile (WSP). The maiden HMW Project MRE was prepared by SRK and was further upgraded on 17 November 2020, 24 October 2022, and 1 May 2023.
Each upgrade has not only significantly increased the total resource inventory but also enhanced the resource category classifications and hence confidence in the viability and robustness of the HMW project. This latest resource upgrade enhances Galan’s objective to achieve the necessary production conditions for Stage 3 (40Ktpa LCE), towards the company’s four-stage lithium production target of up to 60Ktpa LCE.
“Coupled with our Candelas resource, Galan has a very solid foundation, and more importantly has delivered a further validation that its Hombre Muerto Salar resources fully support our four-stage lithium production target of up to 60Ktpa LCE. The HMW Project is robust and underpinned by strong financial metrics as illustrated in its Stage 1 and Stage 2 DFS results. We constantly evaluate opportunities to increase the value of the HMW Project in parallel with continuing to construct Stage 1 as we look forward to first commercial production in 1H 2025.” Added Juan.
To read more about this, please visit www.galanlithium.com.au
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