Galan Lithium’s (ASX: GLN) maiden drillhole program at its Candelas lithium brine project located on the Hombre Muerto salar in Argentina continues to impress with highly conductive brines discovered in its fifth drillhole at the project.
Investors were suitably pleased with the news. The stock climbed to a high of 27.5c, up 10%, in morning trade on Tuesday.
Field measurements indicate the upper levels of a brine bearing aquifer have been encountered with low impurities in the fifth drillhole.
The fifth drillhole – the last of Galan’s maiden drillhole program at its Candelas project – lies ~2.4kms southwest of the maiden drillhole (192m @ 802 mg/l Li) and ~1.8 km west of drillhole C-03-19 (143m @ 784 mg/l Li).
Conductivity measurements from brine samples taken from packer testing an interval from 280m to 320m exceeded the 200 millisiemens/cm limits of the field recording instrument whilst high specific gravity was recorded at 1.195 g/cm3.
“The discovery of further brines confirms that there is consistent brine coverage over a large area in this northern part of the Candelas channel,” Galan’s Managing Director, Juan Pablo (“JP”) Vargas de la Vega said.
“The result reinforces our view that the project has the potential to host a significant lithium resource on one of the world’s premium salars at Hombre Muerto. We look forward to finalising the hole and confirming that grades and impurity levels are consistent with those already observed in this area”.
Drilling is ongoing and progressing well. Once complete, downhole geophysical logging will be conducted, and further packer tests performed to collect samples for analyses.
Shares in Galan were last trading at 27c.