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Galaxy Resources Ltd.
Summary
| Project: | James Bay | |
|---|---|---|
| Deposit: | James Bay | |
| Location: | Canada | |
| Commodities: | Lithium | |
| Date: | 10/26/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-10-2017: Galaxy Resources Ltd. announces an Exploration/Drilling Update report for its James Bay deposit at the James Bay project. Drilling results incl. 94.4m @ 1.66% Li2O from 106.5m. 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 announce the final assays from its 2017 drilling campaign at the James Bay Project (“James Bay “or the “Project “) in Quebec, Canada. In late March 2017, the Galaxy James Bay team commenced a ~33,000m diamond drilling campaign to extend and develop the existing James Bay spodumene resource. The drilling program is now complete and all assays have been received. All intercepts below are reported downhole. Mineralized pegmatites outcrop at surface and the drill program has targeted approximately 2,360m of known pegmatite strike and outcrop west of the James Bay Highway. These final results include assays from exploratory drill holes east of the highway which have also retuned economic grades in the pegmatite. Resource development, an updated recoverable resource estimate and the project feasibility study will focus on pegmatite mineralization west of the James Bay Road. The known pegmatite mineralization east of the James Bay Road, was tested using scout drilling in the recent campaign and will require further confirmatory drilling. An estimated 1,400m of the eastern zone remains untested by drilling. | |
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