Galaxy Resources Provides Update on Mt Cattlin Resource, Reserve and Exploration Program

Galaxy Resources Limited (ASX: GXY) announced that a Mineral Resource and Ore Reserve update following drilling activities undertaken at the Mt Cattlin Project in Western Australia.

galaxy

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.

Table 1

The updated Mt Cattlin Ore Reserve at 31 December 2017 was estimated to be 7.6 million tonnes at 1.1% Li2O or 81 thousand tonnes of contained Li2O metal. A breakdown of the Ore Reserve, as at 31 December 2017 is reported in Table 2 below.

Table 2

As previously reported to the market, Galaxy is implementing a series of capital works at the Mt Cattlin Project, which includes the installation of an ultra-fines DMS circuit and optical sorting, to further optimize processing efficiencies and improve plant recoveries to a targeted 70-75%. When combined with the increase in the resource head grade delineated from recent resource development drilling, higher annual production volumes are targeted after these capital works have been completed.


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