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Galaxy Resources Ltd.
Summary
| Project: | James Bay | |
|---|---|---|
| Deposit: | James Bay | |
| Location: | Canada | |
| Commodities: | Lithium | |
| Date: | 9/14/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-9-2017: Galaxy Resources Ltd. announces an Exploration/Drilling Update report for its James Bay deposit at the James Bay project. Drilling results incl. 56.6m @ 1.615 Li2O from 89.3m. Galaxy Resources Limited ("Galaxy" or the "Company") (ASX: GXY) is p | |
| Resources: | (Resource): 11.75 Mt @ 1.3% Li20 (Ind.), 10.47 Mt @1.2% Li20 (Inf.) | |
| CP/QP: | [Overall Report]: Albert Thamm (Internal) | |
| ABSTRACT: | Galaxy Resources Limited ("Galaxy" or the "Company") (ASX: GXY) is pleased to announce further assays from its 2017 drilling campaign at its James Bay Project (“James Bay “), Quebec, Canada. In late March, the Galaxy James Bay team commenced a ~33,000m diamond drilling campaign to extend and develop the existing James Bay spodumene resource in Quebec, Canada - the program is now complete. All assays are expected to be finalized by the end of September 2017. Assays (Tables 1 and 2, below) have been received for a further 49 diamond holes for 10,111m of NQ drilling (collars, Table 1, below). Drilling has been both resource infill and resource extensional in type. All drilling is diamond (core). Pegmatites outcrop at surface and the drill program has targeted approximately 1,850m of pegmatite outcrop westward of the James Bay Highway. The first three drill holes east of the highway returned economic grades in pegmatite. The resource remains open and largely untested east of the James Bay Highway. Thicker pegmatites at the western extremity of the known mineralization remain open and untested below the limits of the current drilling. The now-completed drilling program will be used for a mineral resource re-estimate and upgrade, which is expected to be finalised by the end of October 2017. Galaxy’s Managing Director and CEO, Anthony Tse, commented “The results from this last set of assays are very good and reaffirm the potential of James Bay, as a long-life high grade spodumene project. We look forward to the outcome of the resource upgrade which will follow. The Project Notice, which outlines the scope of the project, is expected to be submitted shortly to the relevant departments in both the Quebec Government and the Federal Government of Canada. “ Further assay results will be released as they are received over the coming weeks | |
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