Old 03-22-2011, 01:31 AM
Sparty Sparty is offline
Join Date: Mar 2009
Posts: 1,128
Default Galaxy Up Resources and Reserves - Mine life is now 18 years

Galaxy has a nice run of news lately. The recent resource upgrade announcement allays one of the few remaining worries... GXY's Mt Caitlin mine now has a life of 18 years based on the upgrade as below:

The new estimate of contained mineral resources for the Mt Cattlin deposit is 197,000 tonnes of lithium oxide (Li2O) and 6.26 million pounds of tantalum pentoxide (Ta2O5) above a cut off grade of 0.4% lithium oxide, reported below in accordance with the JORC Code and Guidelines. The new estimate has increased the total tonnes for all resources by 2.31 million tonnes, while tonnes in the measured and indicated resource categories have increased by 1.50 million tonnes, or 12% compared to 2010.

See previous posts about GXY

The next exciting news will be a JORC for GXY's rich rare earths find that might just rival LYC's Mt Weld resource.
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