Acquires Option To Purchase Key Lithium Tenement
Galan Lithium Limited (ASX:GLN) has executed a binding Option Agreement with a private Argentinian individual for the purchase of the right to earn a 100% interest in the Casa Del Inca III lithium brine tenement.
The acquisition increases and consolidates our Hombre Muerto West (HMW) project footprint located in the South American Lithium Triangle in Catamarca, Argentina.
Galan has agreed to initially acquire 300ha for a total of US$150,000 with the initial deposit of US$80,000 being paid.
Casa del Inca III is located within the world-class, Salar del Hombre Muerto, where Livent Corporation is currently producing lithium carbonate and Galaxy Resources Limited (ASX:GXY) is developing its Sal de Vida project.
Managing Director, JP Vargas de la Vega, said that more importantly, it abuts Galan’s Pata Pila interest, which shares the same geology setting forming part of the suite of tenements that comprise the HMW project. The HMW project currently houses a high-grade, low impurity lithium brine resource of ~2.3Mt LCE @ 946mg/l Li.
“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. This provides Galan with the opportunity to quickly build additional scale to its already significant brine resource and tenure in the region,” he said.
For further information please visit: https://galanlithium.com.au
