Galaxy Resources (ASX:GXY) bumps up resource estimates in Argentina

Company News

by Michael Luu

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.

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