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The explorer already increased its resource estimate by 2.5 times in October to 5.8 million tonnes lithium carbonate equivalent at 866 milligrams per litre and has followed that with a further 14% boost to 6.6Mt grading 880 mg/L.
More than 70% of the resource remains in the measured category.
Together with the nearby Candelas growth project, Galan has resources of 7.3Mt at 852mg/L, which it said is one of the highest-grade lithium endowments in Argentina's share of the ‘lithium triangle'.
Rapid development
The company is keen to develop HMW in the shortest practical timeframe, starting with a pilot plant next year, with commercial production in 2025 and a gradual ramp-up production up in stages to 60,000tpa LCE.
The latest resource update puts Galan alongside other world-class developments and gives the company a solid foundation to develop its projects on the Hombre Muerto Salar, according to managing director Juan Pablo Vargas de la Vega.
Nearby developments are owned by heavyweights such as Allkem, Ganfeng. Lithium Americans, SQM, Albermarle, Livent and POSCO.
The resource boost includes the results of 19 holes for 5918m completed since last year and was calculated without a cut-off grade given its brines all exceed 800mg/L.
Galan continues exploration drilling in tandem with plans to establish the $50 million, 4000tpa pilot plant, with maiden reserves due for release in the near future.
Studies advance
An optimised definitive feasibility study process is ongoing but has been delayed to allow for further refinements by its new technical team, Juan Carlos Barrera and Claudia Pohl, both of whom joined Galan from SQM.
The pilot DFS is due this month, and a second step to assess the stage two expansion to 20,000tpa is due in August.
Construction on the pilot plant is expected to begin later this year.
Investment bank Macquarie kicked off coverage of Galan in January with a $1.90 per share valuation.
Galan remains well funded with $38 million cash.
Shares in the lithium hopeful were off 3% this afternoon at $1.04, capitalising the company at $319 million.
The stock has traded between 90c and $1.77 over the past year.
