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Galaxy Resources Ltd.
Summary
| Project: | James Bay | |
|---|---|---|
| Deposit: | James Bay | |
| Location: | Canada | |
| Commodities: | Lithium | |
| Date: | 8/2/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-8-2017: Galaxy Resources Ltd. announces an Exploration/Drilling Update report for its James Bay deposit at the James Bay project. Drilling results incl. 98.8m @ 1.62% Li2O from 0.0m. Galaxy Resources Limited ("Galaxy" or the "Company") (ASX: GXY) is ple | |
| 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 the James Bay Project in Quebec, Canada. In late March, the Galaxy James Bay team commenced a ~31,000m diamond drilling campaign to extend and develop the existing resource at the James Bay Project in Quebec, Canada. 29,300m of drilling to date has been completed with the entire program now expected to be completed by the end of August 2017. Both resource infill and resource extension diamond ( core ) drilling has been conducted. Pegmatites outcrop at surface as seen in Figure 1 and the drill program as outlined in Figure 2, has been targeting approximately 1,850m of pegmatite to the west of the James Bay Highway. Resource infill type drilling can be seen within known pegmatites, as shown in Figures 3 and 4 below. The objective of this drilling is to improve and upgrade the resource classification of the existing resource to “measured” and “indicated” classifications. Galaxy’s Managing Director and CEO, Anthony Tse, commented “The ongoing successful drilling at James Bay has demonstrated the significant scale of the project. The results of the campaign will provide the essential inputs to the James Bay resource upgrade, as well as the feasibility studies to be completed. The project will look to leverage off the existing infrastructure in Quebec, which we believe is a premier location for an integrated upstream and downstream operation to be developed” | |
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