Galan Lithium Limited (ASX:GLN) has identified brines over a strike extent of about 2.5 kilometres at the Candelas Lithium Brine Project in Hombre Muerto, Argentina.
Drilling, casing and sampling have been completed at a third drill hole south of the maiden drill hole, which provided outstanding results including an intercept of 192 metres at 802 mg/l lithium with low impurities.
The third hole was extended to a final depth of 454 metres and was cased and cemented to 315 metres.
It was left open for 139 metres to 454 metres correlating to high specific gravity (SG) brine readings of 1.190 g/cm3.
Following initial termination of the drill hole, downhole geophysics was performed with results indicating that highly conductive and high specific gravity (SG) brine was being encountered to the bottom of the hole.
After further deepening the hole to 454 metres, several packer tests were performed using downhole data as guidance, which indicated a preferred section from 313 metres to 454 metres with conductivities in excess of 200 mS/cm.
The hole was then cement cased to 315 metres and left open to the bottom of the hole within the brine section.
Last week the company identified conductive brines over 154 metres, with conductivity levels ranging from 183 to more than 200 mS/cm in the third drill hole.
The hole encountered fractured basement at 398 metres.
Galan Lithium's tenure.
This geological sequence largely replicates that observed in the maiden drill hole, comprising a thick layer of ignimbrite lying below surficial alluvial cover.
Galan has also secured commitments from investors to raise $4 million in a share placement towards expanding the Candelas drilling campaign along the Candelas channel at the Hombre Muerto Lithium project as well as the start of initial resource work.
Galan’s managing director Juan Pablo Vargas de la Vega said: “We are pleased to have received such strong support from a range of Australian and North American investors who now join our existing shareholders in aligning themselves to the success we are looking to achieve through our ongoing exploration at the Hombre Muerto Lithium project.
“We have achieved positive results to date, which we plan to expand through well-planned exploration activities.”