Investing

Grant of Highly Prospective Greenbushes Tenement in Western Australia – E70/4629

Galan Lithium Limited (ASX:GLN) (Galan or the Company) is pleased to announce the grant of an additional key tenement, E70/4629 targeting lithium-bearing pegmatites. The exploration licence has been granted for a period of 5 years to February 2029. The tenement is approximately 260 km south of Perth, the capital of Western Australia, and less than 30 km south of the Greenbushes pegmatite at the Greenbushes Mine (Talison Lithium). The area covers roughly 43 km2 and expands Galan’s 100% owned tenement package to a total area of 315 km2.

Newly granted tenement (E70/4629) located less than 30 km south of Greenbushes mineImportantly, tenement contains the historic tin workings associated with lithium-bearing pegmatitesA re-interpretation of historical geophysical data acquired by Galan indicates that the Donnybrook-Bridgetown Shear Zone extends into E70/4629 and may be responsible for the emplacement of pegmatites.Processing of previous airborne geophysical data provides initial exploration targetsMaiden exploration campaign, including hand sampling and ground, geophysics set for H2 2024 over this highly prospective tenure

The Company is excited to commence exploration activities on the newly acquired tenement, leveraging our previously acquired data set of high-resolution radiometric and magnetic geophysical data from the airborne geophysical campaign flown in March 2022 (refer ASX Announcement dated 24 March 2022). Currently, the Company’s primary targets are historic tin workings in the Smithfield pegmatite area in the eastern portion of the tenement. These historic workings provide valuable geological insights and indicate potential spodumene mineralisation patterns within the region. Tin and tantalum are often associated with lithium-bearing pegmatites, and alluvial tins were the precursor to the Greenbushes Mine. Galan’s initial exploration activities will include geologic mapping, soil sampling and rock chipping, as well as ground geophysical surveys set to commence later this year.

Commenting on this important milestone, Galan’s Managing Director, Juan Pablo Vargas de la Vega said ”The grant of this key exploration licence is an important pillar of Galan’s exploration and evaluation activities at Greenbushes South. The tenure is highly prospective and its geological setting gives us the confidence to commence a maiden field campaign at the earliest opportunity. We look forward to updating the market as we advance the project.”

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