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Galaxy Resources Ltd.
Summary
| Project: | James Bay | |
|---|---|---|
| Deposit: | James Bay | |
| Location: | Canada | |
| Commodities: | Lithium | |
| Date: | 6/27/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-6-2017: Galaxy Resources Ltd. announces an Exploration/Drilling Update report for its James Bay deposit at the James Bay project. Drilling results incl. 48.60m @ 1.64% Li2O from 118.9m. Galaxy Resources Limited ("Galaxy" or the "Company") (ASX: GXY) is | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Albert Thamm (Internal) | |
| ABSTRACT: | Galaxy Resources Limited ("Galaxy" or the "Company") (ASX: GXY) is pleased to announce its first assays from its 2017 drilling campaign at its James Bay lithium pegmatite project in Quebec, Canada. In late March, Galaxy’s James Bay team commenced a ~31,000m diamond drilling campaign to extend and develop the existing James Bay resource. Phase 1, which completed 20,245 meters, is now complete and the drill program has shown the resource to be open at depths below -100m and the existing recoverable resource was reported to an average of -110m (maximum -200m) below surface. All intercepts are reported below. The Phase 2 drilling program is ongoing and expected to be completed by the end of July 2017. Further results will be released over the coming weeks. Galaxy’s Managing Director and CEO, Anthony Tse, commented: “The new phase of drilling at James Bay was put in place to reinforce the scale of the pegmatite and the significant potential for further growth. James Bay’s proximity to local infrastructure, including the accessible road networks, water and power supply are all natural advantages and key to the development of the Project. The Project Team will now focus on concluding the activities required on the resource upgrade campaign, in addition to progressing the work in relation to the Feasibility Study, both for the upstream mine and concentrator plant, as well as the downstream lithium conversion facility.” The James Bay Pegmatite swarm is located It is 2 kilometers south of the Eastmain River and 100 kilometers east of James Bay. The property is accessible by paved road from the James Bay Road (highway) which cuts through the property close to the 381km road marker on the highway Route/109 from Val d’Or, Quebec, Canada. Val d’Or is approximately 526km westward from Montreal, Quebec. A large, multi-service truck stop is located at marker 381. The James Bay Lithium project is located 1,850 road kilometers from Montreal and 1,650 road kilometers from Québec City. | |
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