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Maiden reserve for Galaxy's Sal de Vida

10th April 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Lithium miner Galaxy Resources has delivered a maiden Joint Ore Reserves Committee- (Jorc-) compliant reserve of 1.1-million tons of lithium carbonate at its Sal de Vida project, in Argentina.

A potash reserve estimate of 4.2-million tons of potassium chloride equivalent has also been estimated at the project site.

Galaxy said on Wednesday that the reserve estimate supported yearly production of some 25 000 t of lithium carbonate and 94 000 t of potash, over a 40-year life-of-mine.

“We are extremely pleased to deliver a robust maiden Jorc-compliant reserve estimate for Sal de Vida,” said Galaxy MD Iggy Tan.

He noted that the reserve base and mine life put Sal de Vida in line with other significant brine deposits in the world.

“Furthermore, we believe with further drilling in other areas of the basin, we have the potential to lift the reserve base and extend the life of the project beyond the current 40 years,” Tan added.

Galaxy currently holds a 70% interest in the Sal de Vida project, which it acquired following its merger with Lithium One, in July last year.

Edited by Creamer Media Reporter

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