Highlights:
- Option to purchase strategic new tenement executed
- Right to acquisition increases flexibility and more area for pond location and infrastructure such as camp and processing plant for HMW
- Potential to increase lithium resource to be assessed with geophysics work to follow
Galan Lithium Limited (ASX:GLN) (Galan or the Company) is pleased to announce that it has executed a binding Option Agreement (Agreement) with a private Argentinian individual for the purchase of the right to earn a 100% interest in the Casa Del Inca III lithium brine tenement. The acquisition increases and consolidates our Hombre Muerto West (HMW) project footprint located in the South American Lithium Triangle in Catamarca, Argentina (Figure 1).
Galan has agreed to initially acquire 300ha for a total of US$150,000 with the initial deposit of US$80,000 being paid.
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