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Galaxy Resources Ltd.
Summary
| Project: | James Bay | |
|---|---|---|
| Deposit: | James Bay | |
| Location: | Canada | |
| Commodities: | Lithium | |
| Date: | 10/19/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-10-2017: Galaxy Resources Ltd. announces an Exploration/Drilling Update report for its James Bay deposit at the James Bay project. Drilling results incl. 102.8m @ 1.56% Li2O from 150.3m. Galaxy Resources Limited ("Galaxy" or the "Company") (ASX:GXY) is | |
| Resources: | (Resource): 11.75 Mt @ 1.3% Li20 (Ind.), 10.47 Mt @1.2% Li20 (Inf.) at project | |
| CP/QP: | [Overall Report]: Albert Thamm (Internal) | |
| ABSTRACT: | Galaxy Resources Limited ("Galaxy" or the "Company") (ASX:GXY) is pleased to advise that it has now submitted a Project Notice for the James Bay Lithium Project (“James Bay“ or the “Project”) to the Government of Quebec, and the Federal Government of Canada, together with local stakeholders. The Project Notice submission marks the start of the regulatory process aimed at securing the necessary mining and infrastructure licenses. It also advises the Government of the proposed scale, scope and timeline of the James Bay Project so that it may set the appropriate levels of regulatory assessment. The preparation and submission of this project description is the initial step in the environmental impact assessment process, where Galaxy advises in writing, the relevant Québec ministry (Ministère du Développement durable, de l’Environnement et de la Lutte contre les changements climatiques, or “MDDELCC“) and the Canadian Environmental Assessment Agency (“CEAA“), of its intention to undertake the project. The project description also allows the relevant government agencies involved to determine the type of environmental study to be conducted and to issue a formal notice indicating the nature, area and scope of the study expected from the project promoter. The Project Notice outlines the general characteristics of the project. The Project is situated in the Nord-du-Québec administrative region of Québec, where Galaxy is planning to develop an open-pit lithium mine that would be located along the James Bay Road. Aside from the pit, the mining facility will include an ore concentrator, tailings/waste rock/ore/overburden storage areas, as well as accompanying infrastructure. The concentrated ore will be trucked to a transfer site, where it will be transported by train south, to the proposed conversion facility to be processed into lithium chemicals. The Company is also pleased to announce further assays from its 2017 drilling campaign at James Bay. The aim of this drilling was to support a mineral resource upgrade to be incorporated into the ongoing Project feasibility study work. In March 2017, the James Bay team commenced a ~33,000m diamond drilling campaign to extend and develop the existing James Bay resource. This drilling program has now been completed. All remaining assays are expected to be received by the end of October 2017. Results from a further 16 holes for an aggregate 3,879m drilled can now be reported. | |
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