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Galaxy Resources Ltd.
Summary
| Project: | James Bay | |
|---|---|---|
| Deposit: | James Bay | |
| Location: | Canada | |
| Commodities: | Lithium | |
| Date: | 12/4/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-12-2017: Galaxy Resources Ltd. announces a Resource Estimation report for its James Bay deposit at the James Bay project. Updated Mineral Resource at James Bay. The James Bay Lithium Project is an undeveloped lithium property located in Canada. In Septe | |
| Resources: | (Resource, Ind.): 40.82Mt @ 1.4% Li2O for 571.2kt contained at project | |
| CP/QP: | [Resources]: Dominic Chartier, Sebastien Bernier (SRK Consulting (Canada) Inc.) | |
| ABSTRACT: | The James Bay Lithium Project is an undeveloped lithium property located in Canada. In September 2017, Galaxy Lithium (Canada) Inc (Galaxy) commissioned SRK Consulting (Canada) Inc. (SRK) to visit the property and prepare a geological and mineral resource model for the James Bay Lithium Project. The services were rendered between September and December 2017, leading to the preparation of the Mineral Resource Statement reported herein that was disclosed publicly by Galaxy in a news release on December 4, 2017. This technical report documents a Mineral Resource Statement for the James Bay Lithium Project prepared by SRK. It was prepared following the guidelines of the Canadian Securities Administrators’ National Instrument 43-101 and Form 43-101F1. The Mineral Resource Statement reported herein was prepared in conformity with generally accepted CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines The James Bay Lithium Project is located approximately 380 kilometres north of the town of Matagami, in northern Québec, Canada. The property is comprised of 54 contiguous mining titles that cover an area of approximately 2,164 hectares. The centre of the property is located at approximately 52.24 degrees latitude north and 77.07 degrees longitude west. On July 4, 2012, Galaxy, through its wholly owned subsidiaries, Galaxy Lithium (Canada) Inc. and Galaxy Lithium (Ontario) Inc., successfully completed a C$112 million merger with Lithium One Inc. (Lithium One), acquiring 100% of the James Bay Lithium Project. Lithium One had previously entered three option agreements between March 2008 and June 2009; the status of these agreements remains unchanged since Galaxy’s acquisition of the company. They are summarized as follows: | |
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