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Galan Lithium Ltd.
Summary
| Project: | Candelas | |
|---|---|---|
| Deposit: | Candelas | |
| Location: | Argentina | |
| Commodities: | Lithium-Potassium | |
| Date: | 10/1/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-10-2019: Galan Lithium Ltd. announces a Resource Estimation report for its Candelas deposit at the Candelas project. Initial mineral resource estimate for project. Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to announce the maiden | |
| Resources: | (Resource): 685Kt LCE @ 672Mg/L Li | |
| CP/QP: | [Resources]: Michael Cunningham (SRK Consulting (Australasia) Pty Ltd.) | |
| ABSTRACT: | Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to announce the maiden JORC (2012) compliant Mineral Resource estimate for the Candelas lithium brine project located in Catamarca province, Argentina. The resource estimate was completed by the Company’s consultants SRK (Australia) and was conducted by their Australian and Argentinian based teams. The indicated mineral resource estimate for the higher grade Candelas North zone is 684,850 tonnes of contained lithium carbonate equivalent (LCE) product grading at 672mg/l Li (at 500mg/l Li cut off). A summary of the Candelas North Zone mineral resource and sensitivity to grade-tonnage and cut-off, as well as an inferred resource for the Central Zone, is provided in the Summary of Resource Estimate (Table 2). Galan’s Managing Director Juan Pablo (JP) Vargas de la Vega said: “We are delighted to deliver a JORC compliant maiden Resource estimate resulting in an approximate 685,000 tonnes of LCE product within the Candelas project area. This indicated resource forms a solid basis for the upcoming Pre-Feasibility Study and has exceeded the Company’s expectations, further validating the high-grade, low impurity nature of the Candelas project and our strategy to fast-track Candelas towards commercial development. With further drilling, we are confident of delivering future upgrades to this resource and I look forward to updating investors on our progress across our tenement holdings.” | |
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