Galan Lithium Ltd (ASX:GLN) has been granted a trading halt by the ASX today pending the release of information regarding a drilling program.
Shares in the company will remain halted until the earlier of, either the release of relevant information, or the commencement of trading on Wednesday, March 6, 2019.
READ: Galan Lithium’s maiden drill hole hits 166 metres of lithium bearing brines at Candelas in Argentina
The company recently drilled 166 metres of lithium-bearing brines at its Candelas Lithium Brine Project in Hombre Muerto, Argentina.
The hole was completed to a depth of 401 metres and intersected a substantial amount of brine from depths of around 235 metres to the end of the hole.
Galan managing director Juan Pablo Vargas de la Vega said that the initial results are exceptional, confirming the presence of high-grade lithium-bearing brines within a geological setting unique to the Hombre Muerto Salar.