Galaxy Resources Ltd.'s indicated mineral resource estimate at its James Bay project in Quebec increased to 40.8 million tonnes at 1.40% lithium oxide.
The estimate, at a 0.62% lithium oxide cut-off, holds 571,200 tonnes of contained metal, according to the Dec. 4 release. The total December 2010 estimate stood at 22.2 million tonnes at 1.3% lithium oxide for 278,390 contained tonnes.
The company is continuing preparation on a feasibility study, and an upgrade of resources to reserves is expected in the first half of 2018.
