GLN

7.14%

13.0¢ galan lithium limited

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billyen

6,892 Posts.

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06/02/19

13:25

Post #: 37349031
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Originally posted by Weatherman ↑

Few observations.

1. We are drilling 800m north of CSAMT Line 1. Not on Line 1. So comparing the results directly with the large purple 'brine' blobs on the resistivity cross sections (especially cross section 1 - the closest) is not entirely accurate or reliable - the sediment/ignimbrite layer will vary, especially across hundreds of meters, or even kilometers.

2. The main thing here is that we have seen exactly what we were hoping for - drilling into brine with conductivities exceeding 200ms/cm. The company is greatly encouraged, and so am I - I'm really pleased this announcement came out as it did (unexpectedly), as the alternative would have not been so good (drilling to 500m and hitting bugger all).

3. 60m+ from 235m and still drilling in brine. Massive positive. Would love another announcement (later in the week) if we are still in it.

To find brine (and probably lithium-bearing brine) on the first drill hole - great outcome. All the other variables (layers/depths/conductivity/porosity etc) will be uncovered as we drill more, not just on this hole but on the next 4. But at least we know it's there!

If we keep going like this, at some point there will be a re-rate of this stock. 'People' are no doubt taking more notice now. I'm excited and nervous (as I am sure all us holders are) but this news - at least for me - has de-risked my investment some more.

I need to do some work now and stop hitting refresh on commsec every 10 seconds!

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GLN Price at posting: 34.0¢ Sentiment: Buy Disclosure: Held
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Last 13.0¢		Change -0.010(7.14%)		Mkt cap ! $63.56M

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Welcome and thank you for your first GLN post and insight into...

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