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Galaxy Resources Ltd.
Summary
| Project: | Mt Cattlin | |
|---|---|---|
| Deposit: | Mt Cattlin | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 9/20/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 20-9-2016: Galaxy Resources Ltd. announces an Exploration/Drilling Update report for its Mt Cattlin deposit at the Mt Cattlin project. Drilling results incl. 11.00m @ 2.09% Li2 from 0.50m. Galaxy Resources Limited ("Galaxy" or the "Company") (ASX:GXY) is | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Craig Hall (Internal) | |
| ABSTRACT: | Galaxy Resources Limited ("Galaxy" or the "Company") (ASX:GXY) is pleased to provide an update on exploration activities at the Mt Cattlin Project near Ravensthorpe in the south-west of Western Australia. Assays have been received for pegmatite samples within the first four of six holes drilled during 2016 (Hole MTCDD1 and daughter hole MTCDD1W1 (MTCDD1/W1) through to Hole MTCDD4). The six holes formed a deep stratigraphic diamond drilling programme designed to provide greater geological understanding of the Mt Cattlin structural architecture and assist in determining optimal depths for planned infill and extensional drilling of the known lithium-tantalum resource (refer figures 1, 2, 3, and 4). Importantly, the Company has greatly improved its geological knowledge beneath the existing depth extent of the current Mineral Resource. The recent drilling has now defined a new zone some 500m wide and at least 150m long, open in all directions but in particular to the east, where it appears to be increasing in thickness. Galaxy believes that given the revised scale of the mineralizing system, significant potential exists for finding additional repetitions in upthrust faulted positions closer to surface in open-pittable scenarios, given the complex post-mineralization history of the area and the lack of exploration around the known resource. | |
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