Positive results at Mt Cattlin project

Galaxy Resources Ltd has received further positive assay results from its Reverse....

  Galaxy Resources Ltd has received further positive assay results from its Reverse Circulation drilling program at the Mt Cattlin Lithium/Tantalum project within the Archaean Ravensthorpe Greenstone Belt, Western Australia.The results are part of Galaxy’s recently completed resource definition program for a total of approximately 13,800m of which a total of 350 RC holes (GX450 to 799) have been drilled.Assay results have been received for GX697 to GX727. The holes in this part of the program have focussed on the eastern extension of the conceptual target.Galaxy’s Managing Director Michael Fotios said the drilling program at Mt Cattlin continued to produce pleasing results.“The results indicate there are significant extensions on the eastern side of the pegmatite,” said Mr Fotios.“The mineralised thickness of the pegmatite in this area is thinner than the western extension and averages between 5m and 10m with average spodumene grades of between 15% and 20%. Drilling in the southern part of the western extension of the pegmatite has also identified an extension that is open to the south,” he said.A number of holes (including GX700, 701, 724 & 725) were completed outside the interpreted eastern perimeter in order to confirm the conceptual extent of the pegmatite and appear to have intersected a quartz rich pegmatite indicating the pegmatite is open to the east. Further drilling will be undertaken at a later date to test this area. Assays are awaited for holes GX700,701, 714-716, 719, 724 & 725. Holes GX728 to GX799 - being the balance of the results outstanding – have been drilled. These holes have intersected mineralised pegmatite south and east of North Ravensthorpe and provided enough information to model the pegmatite in this area. Tantalum grades at North Ravensthorpe are generally higher than other parts of the pegmatite, and apart from the extensions to this target described above, the current program has not drilled inside the historic drill pattern. In addition, the drilling at the southern end of the western extension has intersected pegmatite which remains open to the south.Galaxy intends shortly to announce the details of a pre feasibility study being undertaken at Mt Cattlin.