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Galaxy Resources Ltd (ASX:GXY) announced an estimate 0f 4.2 million tonnes of potassium chloride (potash) equivalent at Sal de Vida.
Galaxy Resources Ltd (ASX:GXY) announced an estimate 0f 4.2 million tonnes of potassium chloride (potash) equivalent at Sal de Vida.
As quoted in the press release:
The Reserve estimate supports annual production at Sal de Vida of 25,000 tonnes of lithium carbonate and 95,000 tonnes of potash over a 40 year period. The maiden Reserve estimate is based on updated exploration drilling, well field pump tests and groundwater flow model projections.
Galaxy’s Managing Director, Iggy Tan said:
We are extremely pleased to deliver a robust maiden JORC-compliant Reserve estimate for Sal de Vida. This Reserve base and mine life puts 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.
To view the whole press release, click here.