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Galaxy Resources Ltd.
Summary
| Project: | Mt Cattlin | |
|---|---|---|
| Deposit: | Mt Cattlin | |
| Location: | Australia | |
| Commodities: | Lithium-Tantalum | |
| Date: | 3/23/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 23-3-2018: Galaxy Resources Ltd. announces a Resource Estimation report for its Mt Cattlin deposit at the Mt Cattlin project. Updated mineral reserve and resource estimate at project. Galaxy Resources Limited ("Galaxy" or the "Company") (ASX: GXY) is plea | |
| Resources: | (Reserve, P+P): 7.64Mt @ 1.05% Li2O for 80.5Kt LiO2 contained | |
| CP/QP: | [Resources]: David Billington (Mining Plus Consulting Pty Ltd.) | |
| ABSTRACT: | Galaxy Resources Limited ("Galaxy" or the "Company") (ASX: GXY) is pleased to announce a Mineral Resource and Ore Reserve update following drilling activities undertaken at the Mt Cattlin Project in Western Australia. Following a full year of mining and processing operations at Mt Cattlin, along with a comprehensive RC and grade control drilling campaign (>10,000m), Galaxy has significantly improved its geological interpretation of the Mt Cattlin resource. As at 31 December 2017 Mt Cattlin was estimated to contain 11.6 million tonnes at 1.2% Li2O or 140 thousand tonnes of contained Li2O metal. A breakdown of the Mineral Resource, as at 31 December 2017 is reported in Table 1 below. Galaxy has also initiated a significant brownfield and greenfield exploration program at Mt Cattlin and its surrounding tenements. The Mt Cattlin exploration team has recently completed a ~15,000m infill RC drilling program, which was solely focused on further resource development. Galaxy is awaiting assays and validation of the results from this drilling and will update the market in due course. Further to this, the exploration team plans on undertaking a second phase of brownfields infill RC drilling for resource development of an additional ~15,000m. This campaign will further enhance Galaxy’s geological understanding of the underlying mineralisation and is targeting an upgrade of Inferred Resources to M&I status and Mineral Resource to Ore Reserves | |
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