James Bay

A strategically located asset with a high grade and shallow hard rock resource. James Bay provides strong expansion potential into the North American and European market.

The James Bay lithium pegmatite project (“James Bay”) represents one of the highest quality development projects in North America and provides strong future expansion potential within Galaxy’s portfolio. Galaxy aims to define and optimise an upstream mine and concentrator operation with an integrated downstream conversion facility. The wholly owned project is located in Quebec, Canada, approximately 100km east of James Bay and the community of Eastmain.

The project comprises five sets of claim blocks with a defined Mineral Resource of 40.3 Mt @1.40% Li2O. For further information on James Bays’ Mineral Resource, click here

The deposit is shallow, relatively flat-lying and outcropped at surface in several locations. Comprising a swarm of pegmatite dykes that form a discontinuous corridor that is approximately 2 kilometres long and 500 metres wide. Modelling completed indicates that the resource is amenable to open pit extraction.

The project is close to local infrastructure including road access, accommodation, water, power and an existing airport.

Indicated Mineral Resource:

40.3mt

at 1.4% Li20

Close proximity to key local infrastructure and a low-cost hydro power supply

Pre-Development Agreement signed with the Cree Nation Government and the Cree Nation of Eastmain in March 2019

PROJECT ACTIVITIES

Project activities undertaken on the James Bay project during FY 2019 were focused on advancing ongoing feasibility works including an integrated mining and concentration (“upstream”) and chemical processing/conversion operation (“downstream”). Upstream work programs will be prioritised first to present a robust business case, before advancing the downstream program.

Feasibility work on the upstream mine and concentrator includes the completion of a test-work program confirming the suitability of a DMS only flowsheet, as well as key operating parameters and the process design criteria for the concentrator over life of mine. Other key outputs include completion of the “pre-work’ mandate by Hydro-Quebec confirming the availability of power required for the operation, a mine plan and preliminary design and costing of the concentrator and associated infrastructure.

Value engineering work on the upstream commenced in 2019 with the objective of reducing capital and operating costs. The work program will also address logistical and functional challenges of operating in a cold climate and remote location. In parallel, a site investigation program was initiated to collect geotechnical information that will support both the value engineering and feasibility phase of the project.

The Cree Nation of Eastmain

The Cree Nation of Eastmain is located roughly 130KM from the project site and is home to over 800 members of the Cree Nation. The Galaxy team is working in close collaboration with the community and the Cree Nation Government to ensure that a positive working relationship continues through the permitting process and if approved, through construction and mine life. A relationship built on transparency, cultural awareness and mutual respect has been demonstrated by both parties and is the foundation for the current Impact and Benefits Agreement (IBA), discussions.

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