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Galan Lithium managing director buys 123,030 shares on-market

The company is exploring lithium brines within the lithium triangle region in Argentina.
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Galan’s share price closed today at 28 cents.

Galan Lithium Ltd’s (ASX:GLN) managing director Juan Pablo Vargas de la Vega has indirectly purchased 123,030 ordinary shares through on-market trades.

Vargas de la Vega also directly sold 17,241 shares on-market for a net value of $30,857.

His current holding now comprises 123,030 in-directly held shares, more than 6.8 million directly-held and more than 5 million unquoted options exercisable at 14 cents.

 

In mid-December last year, Galan received permits to conduct the maiden drilling program at its Candelas Lithium Brine Project in the Hombre Muerto salar in Argentina.

Receiving the permits was a significant step forward for the company in Argentina.

At the time, field activities in preparation for drilling had already begun, with local contracts for drilling, camp establishment, operational health and safety, catering and technical assistance soon to be awarded.

READ: Galan Lithium receives drilling permits for Candelas Lithium Brine Project in Argentina

The maiden drilling program will comprise five holes to be drilled over a 12-15-kilometre section of the Candelas channel.

An initial hole will aim to test Galan’s geophysical model and will provide detailed data on the stratigraphy within the Candelas channel to a depth of more than 400 metres.

The results from the initial hole will also assist in the planning of subsequent drilling.

- Jessica Cummins

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