At HMW, resources for Pata Pila and Rana de Sal are 1.08 million tonnes of contained lithium carbonate equivalent grading 946 milligrams per litre lithium.

 

Galan's total combined mineral resource increased by 158% from 685,000t LCE at 672mg/l lithium to 1.77Mt at 837mg/l lithium.

 

Managing director Juan Pablo Vargas de la Vega claimed Galan's projects host some of the highest grade/lowest impurity resources within Argentina, where fellow Australians Lake Resources, Argosy Minerals and Orocobre are also active.

 

He said the new resources would help consolidate the junior's scoping and prefeasibility studies for both HMW and Candelas projects, and provide the company a greater degree of flexibility in its planning.

 

HMW is located on the shores of the Hombre Muerto Salar, close to Sal de Vida, being developed by Australia's by Galaxy Resources, and projects owned by Livent Corporation and POSCO.

 

Galan is working to better define the synergies between its projects, and is assess the potential of the nearby Del Condor and Pucara de Salar leases it recently optioned from Canada's Portofino Resources.

 

Pending legal and title due diligence, Galan will pay a total of C$100,000 and issue 650,000 shares if its triggers its option by late May.

 

Galan had around A$1.2 million cash at the end of January. 

 

Shares in the junior were steady at 25c, valuing the company at $39.8 million.