viewGalan Lithium Ltd

Galan Lithium managing director shows faith in company with on-market purchases

Juan Pablo Vargas de la Vega has purchased a further 26,700 shares, his third acquisition this year.

Money bags
The company is focused on lithium in South America’s renowned Lithium Triangle

Galan Lithium Ltd (ASX:GLN) managing director Juan Pablo Vargas de la Vega continues to demonstrate his confidence in the company’s Argentine lithium strategy with on-market share purchases.

He has recently made his third share acquisition this year, purchasing a further 26,700 shares in on-market trades.

In March the MD acquired 17,000 shares and in early January he purchased 123,030 shares.

JP Vargas de la Vega now holds a total of more than 6.99 million shares with the vast majority in a direct interest.

READ: Galan Lithium confirms 160 metres of brine in latest drilling at Candelas in Argentina

Earlier this week the company confirmed that its fifth drill hole at the Candelas Lithium Brine Project on the Hombre Muerto salar in Argentina had returned 160 metres of lithium brine.

Initial field testing indicated a brine section with specific gravity up to 1.13 and conductivity of more than 200 mS/cm.

The hole, C-05-19, is about 2.5 kilometres south of maiden drill hole C-01-19 which provided strong results, including an intersection of 192 metres at 802 mg/I lithium with low impurities.

Following geophysical logging several packer tests were performed, and samples collected and sent for analyses.

READ: Galan Lithium receives second stage drilling permits

In mid-May Galan received required permits for a stage II drilling program of six holes at Candelas.

These holes will focus on the northern section of the property with the aim of defining a maiden JORC resource during the September quarter 2019.

Quick facts: Galan Lithium Ltd

Price: 0.2275 AUD

Market: ASX
Market Cap: $36.25 m

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