Galaxy Resources (ASX:GXY)
has updated the lithium miner’s Sal de Vida resource estimates, indicating a significant increase in Inferred Mineral Resources of 27 per cent.
The adjustment came on the back of findings from drilling missions in the east sub-basin commencing in late 2020. The first two out of the eight wells to be constructed on the site returned readings of lithium concentrations at 911mg/L and 955 mg/L. The data from the company's flagship project in Argentina is significantly higher than the average lithium resource grade.
Shares in Galaxy Resources (ASX:GXY)
closed 4.49% higher at $3.26 yesterday.