Galaxy Resources Limited (ASX: GXY) is pleased to announce a significant development at its Mt Cattlin lithium/Tantalum project located near Ravensthorpe, Western Australia, arising from the geological logging of the first holes in the recently recommenced RC infill and extension drilling program.

The program has initially focussed on infill of the western side and extension drilling in the north western extension of the pegmatite hosted lithium/tantalum deposit. In addition two deep (200 metres and 220 metres) RC drill holes have been completed as the first ever test for repetitions below the extensively-drilled near surface flat lying pegmatite which is the subject of the current BFS.

Based on geological logging, both of the deep holes have intersected at least two new spodumene (lithium) bearing pegmatites and the holes testing the north western extension have confirmed that the near surface pegmatite remains open in this direction.

Galaxy Managing Director Michael Fotios said the encouraging results returned from the initial logging increased the potential for significant additions to the resource, both beneath the existing pegmatite and to the west and north-west of the existing deposit at Mt Cattlin.

"The results from this program so far have identified at least two pegmatites at depth which adds a significant new dimension to future exploration and resource definition," said Mr Fotios.

The results have also opened up the north western extension to the deposit that was previously thought to terminate at a north northwest trending fault.

"These are very encouraging results, and represent the first ever testing below the near surface pegmatite. The next phase will include further drill testing of these deep targets to allow assessment of their impact on medium-term resource definition activities beyond the completion of the current BFS," he said. – Press Release