James Bay’s potential reaffirmed: Galaxy Resources has announced further assays from its 2017 drilling campaign at the James Bay Project in Quebec, Canada, on September 14, 2017 with stock price surging 3.1%. In late March, the Galaxy James Bay team commenced a ~33,000m diamond drilling campaign to extend and develop the existing resource at the James Bay Project. The entire program is now complete. Earlier assay results (drill hole JBL17-19, 98.0m @ 1.62%, ASX, 2 August 2017) have confirmed the extent and continuity of spodumene mineralization. Further, the earlier results have been re-confirmed elsewhere in the pegmatite swarm (drill holes JBL17-21, JBL17-36, JBL17-38 and JBL17-39, below) with the latest assays. Mineralisation remains open below and to the west of the currently drilled out resource. Drill hole JBL17-21 (with drill hole JBL-17-20) extended parts of the resource a further -75m vertically below the current resource. GXY now expects to finalise mineral resource re-estimate and upgrade by end of October 2017. Earlier, the group had also announced that Mt Cattlin has transitioned into commercial production as of 1 May 2017.
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