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In This List

Galaxy Resources updates lithium reserves, resources at Mount Cattlin

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Galaxy Resources updates lithium reserves, resources at Mount Cattlin

Galaxy Resources Ltd. on March 23 released updated estimates of lithium reserves and resources at its Mount Cattlin mine in Western Australia.

The property hosts proven and probable reserves totaling 7.6 million tonnes grading 1.05% lithium oxide, or Li2O.

Reserves are included within measured, indicated and inferred resources totaling 11.6 million tonnes grading an average 1.20% Li2O. Reserves and resources were estimated using a cutoff of 0.4% Li2O.

Galaxy Resources said reserves contain 80,500 tonnes of Li2O metal, with 139,600 tonnes contained in resources, and both include stockpiles.

The estimate incorporates mining, processing and drilling completed in 2017 as well as a mining reconciliation study. Tantalum pentoxide and ferric oxide were assessed independently, with no assumptions made about byproduct recoveries.

A 15,000-meter reverse circulation drill program is underway focused on upgrading inferred resources. Galaxy Resources also reported the finalization of plans for a regional greenfields exploration program over the next two years, which is expected to include up to 60,000 meters of additional drilling.