Galaxy Resources Ltd eyes potential to expand lithium resource in Canada, galaxy pharma.#Galaxy #pharma

Galaxy Resources eyes potential to expand lithium resource in Canada

Galaxy pharma

Galaxy Resources Ltd (ASX:GXY) is continuing to receive further high-grade lithium results from drilling at its James Bay Project in Quebec, Canada.

Highlights from the most recent stage of drilling are as follows:

– 68.7 metres at 1.55% lithium from 49.7 metres;

– 30.20 metres at 1.52% lithium from 51.23 metres; and

– 23.3 metres at 1.57% lithium from 61.91 metres.

In late March, the company commenced a circa 31,000 metres diamond drilling campaign to extend and develop the existing resource at the James Bay Project.

The entire programme is expected to be completed by the end of this month.

Importantly, early assay results have confirmed the extent and continuity of spodumene mineralisation.

The mineralisation remains open below and to the west of the existing resource.

The James Bay project contains an indicated resource of 11.75 mln tonnes grading 1.30% lithium and an inferred resource of 10.47 mln tonnes grading 1.30% lithium.

Significantly, the James Bay deposit occurs at surface and resource modelling indicates that the resource is amenable to open pit extraction.

There is excellent potential to increase the resources through additional delineation of the pegmatite dykes along strike and at depth and potential to increase grade through infill drilling.

The demand for lithium from the electric vehicle industry is forecast to grow exponentially as global car manufacturers launch new models to secure electric vehicle market share.

Galaxy pharma

Galaxy Resources Ltd

Galaxy Resources Ltd Timeline

Related Articles

Galaxy pharma

Galaxy pharma

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.





Leave a Reply