EXPLORATION & DEVELOPMENT

Galan claims exceptional Argentina brine grades

Junior has maiden success while also working on nearby resource

Michael Quinn

This article is 6 years old. Images might not display.

Preliminary assays "indicate consistent lithium grades in excess of 900mg/l lithium", Galan said.

Galan is currently working on a resource for the nearby Candelas project at Hombre Muerto, with an estimate believed to be imminent.

The company has been flagging initiation of a pre-feasibility study next quarter.

Galan raised A$2 million last month when it issued new shares priced at 18c each.

Shares in Galan were up 5% to 21.5c in morning trade, capitalising Galan at $17 million.

The stock spiked to more than 60c in March after Galan's unconventional brine exploration play gave indications of vindication.

 

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