Galan Lithium Ltd (Galan) is an Australian based international mining development company whose main focus is its lithium brine projects located in the Hombre Muerto Basin in Argentina. The December 2020 PEA on the company’s 100% owned Hombre Muerto West (HMW) Project confirms it to be a tier 1, world class lithium brine asset.
Galan’s combined total resources is now ~3.0Mt Mt @ 858mg/l Li and is the 3rd largest publicly disclosed lithium resource in the Hombre Muerto basin.
In January 2021, Galan acquires 80% of the Greenbushes South Lithium Project. The Project is located 3 kms south of the world-class Greenbushes Lithium in Western Australia. The acquisition secures and consolidates a significant package of exploration ground of 396km2.
With close to AUD$60M in the bank, the company plans to initiate a Feasibility Study (FS) at Hombre Muerto, dependent on the results of the brine samples.
Cash: Cash AUD$59M (as of May 2022)
Havelock Mining (90% Ganfeng) – 5.9%
JP Vargas de la Vega – 5.7%
CS Third Nominees (L1 Capital) – 5.2%
Citicorp Nominees – 5.2%
BNP Paribas DRP (Thematica) – 4.5%
Management Ownership – 17%
7 April 2022 – Extensive Drilling Success at HNW Project
• Diamond drillhole, PP-02-22, completed to a depth of 450m at Pata Pila licence.
• Results confirm HMW Project Mineral Resource extends to the east at depth,
delivering further resource and potential production upside:
• Results to be incorporated into HMW Project Mineral Resource update, on track
for completion during Q3 CY2022.
• Further exploration drilling of new target zones to commence this quarter.
• HMW pilot plant S1 pond filling with brine, evaporation testing to commence.
31 Mar 2022 – Hombre Muerto West Project Update: DFS and Pilot Plant Works Making Strong Progress, New Resource Targets Identified
• HMW Definitive Feasibility Study (DFS) on budget and on track for completion
• Two pumping boreholes now completed with short term pumping tests successfully performed on both wells; third borehole to commence shortly.
• Long term borehole hydraulic pumping tests set to commence in May.
• Mineral Resource update on track for delivery Q3 CY2022.
• New target zones exploration drilling set to commence in Q2 CY2022.
24 Mar 2022 – Positive Anomalous Soil Assays Delineate Donnybrook Bridgetown Shear Zone
• Pathfinder element concentrations from soil samples and rock chips
indicate prospective targets near the trace of the mineralising Donnybrook-Bridgetown Shear Zone.
• Completion of 7,622 km of airborne magnetic and radiometric
geophysics flown at an average height of 55 m for high-resolution data.
• Processing of geophysical data underway by Thomson Airborne, and
soon to be interpreted by Southern Geoscience Consultants
• New Conservation Management Plan for exploration activities for its
• 100% owned Donnelly tenement.
HMW Project Mineral Resources Update
Results from ongoing work at Greenbush South
Deliver a DFS
Future funding and the lithium market pose some risk. There is also a country risk but we are very well positioned to mitigate these risks.