Argentina-focused lithium play Galan Lithium says geophysical survey results at its Candelas lithium project have further defined lithium brine potential at the project.
The survey conducted by the ASX-listed company (ASX: GLN) aimed to extend on the results of an earlier survey conducted along the Candelas channel.
The initial survey was interpreted by the Company’s geophysical consultants Quantec Geoscience as showing “…very conductive and shallow units that are compatible with units being saturated with brine, which constitute a great potential for lithium exploration”.
According to Quantec, these conductive units remain open laterally largely to the west and it was recommended the survey be extended to define the lateral limits of the brine horizons.
The CSAMT survey covered 25.6-line kilometres over 6 profiles, 5 of which were extensions to previously surveyed lines with one new line surveyed to extend strike coverage along the channel to the south.
The six lines now cover the entire 15km extent of the channel within Company’s project area and show very conductive and shallow units that are compatible with units being saturated with brine.
Galan’s Non‐Executive Chairman Nathan McMahon said this constitutes significant potential for further exploration.
The recent survey has further confirmed our belief that Candelas has the very real potential to host a significant resource of potentially economic brine,” he said.
“We have extended the target from 10 to around 15 kilometres within our project which is adjacent to significant lithium projects and on one of the world’s most prolific salt flats for the production of high‐quality lithium carbonate for the battery minerals market.
“We now await the granting of our permits to allow drilling of this extensive target for the very first time” he added.
The Company is also awaiting the results of CSAMT surveying over some of the Company’s other leases in the Hombre Muerto Western basin which are currently being processed.
Permitting procedures to conduct drilling over the project are well advanced and the Company is advancing contracts to commence drilling in the current quarter.
Quantec has significant experience in this type of exploration targeting lithium brine mineralisation and has previously conducted work at the neighbouring Sal de Vida project for Galaxy Resources.
Shares in Galan were at 29c in Thursday trade.