Galaxy expands lithium footprint

Lithium producer Galaxy Resources has extended its tenement footprint near the Mt Cattlin Project at Ravensthorpe in Western Australia.

Emerging lithium producer Galaxy Resources announced yesterday it has significantly extended its tenement footprint near the Mt Cattlin Project at Ravensthorpe in Western Australia.

Galaxy agreed to acquire an 80% interest in a block of tenements from Traka Resources.

The company says the acquisition could significantly extend the life of the 100% owned project.

According to Galaxy managing director Iggy Tan, the acquisition indicates the company’s intention to develop a longer life for the mine and expand its global lithium interests.

“Our clear intent it to fast track moves towards production and build a sustainable resource and tenement base,” he said.

“This acquisition is a clear example of the company’s intent to capture a large part of total world lithium production.”

Tan said that the newly acquired Traka ground is made up of a similar geological sequence to its existing Mt Cattlin tenement, and contains a number of spodumene (lithium)-bearing pegmatite outcrops.

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