Galaxy Resources Limited (ASX:GXY) Exports Trial Mica Shipment

Perth, Australia (ABN Newswire) - Galaxy Resources Limited (ASX:GXY) advises that it has exported a 10 tonne trial shipment of mica from its Mt Cattlin operation in Western Australia under a purchase agreement with an overseas international industrial minerals group that specialises in mica-based products.

Galaxy said a sea container of mica in bulk bags was exported from the Port of Fremantle and was en route to the customer's plant.

Galaxy said the customer would test the raw mica product which, subject to results, could lead to a long term sales agreement. The purchaser is an international leader in a number of product applications and sources mica feedstock from a variety of suppliers.

Mica is a non-toxic co-product of spodumene production and occurs naturally in spodumene in the form of muscovite. Mica products are used in ceramic tile coatings, but other common uses include wallboards, toothpaste, cosmetics, makeup, glitter, paints, adhesives, lubricants and plastics.

At Mt Cattlin, Galaxy separates the mica from spodumene and is developing the technology to further process it to create another potentially high-value marketable product.

Galaxy Resources Managing Director Iggy Tan said: 'Following the receipt of initial mica samples and assays, the purchaser confirmed its interest in the quality of the Mt Cattlin product and agreed to purchase a 10 tonne trial parcel for further test work at its overseas plant.

'If further testing proves successful, sales of mica could be a valuable revenue stream for the Company and become a significant supplier in the Asia Pacific region.

'We were always hopeful of developing this market, however to be conservative, we did not factor this potential opportunity into the original feasibility study for Mt Cattlin,' Mr Tan said.

About Galaxy Resources Limited:

Galaxy Resources Limited (ASX:GXY) is an Australian-based integrated lithium mining, chemicals and battery company listed on the Australian Securities Exchange and is a S&P/ASX 300 Index Company. Galaxy wholly owns the Mt Cattlin project near Ravensthorpe in Western Australia where it mines lithium pegmatite ore and processes it on site to produce a spodumene concentrate and tantalum by-product. At full capacity, Galaxy will produce 137,000 tpa of spodumene concentrate and 56,000 lbs per annum of contained tantalum. The concentrated spodumene is shipped to Galaxy's wholly-owned Lithium Carbonate Plant in China's Jiangsu province. Once complete, the Jiangsu plant will produce 17,000 tpa of battery grade lithium carbonate, the largest producer in the Asia Pacific region and the fourth largest in the world.

Galaxy is also advancing plans for a lithium-ion battery plant, to produce 350,000 battery packs per annum for the electric bike (e-bike) market. The Company also has a farm in agreement with TSX-listed Lithium One Inc to acquire up to 70% of the James Bay Lithium Pegmatite Project in Quebec, Canada.

Lithium compounds are used in the manufacture of ceramics, glass, electronics and are an essential cathode material for long life lithium-ion batteries used to power e-bikes and hybrid and electric vehicles. Galaxy is bullish about the global lithium demand outlook and is positioning itself to achieve its goal of being involved in every step of the lithium supply chain.

Source:

Galaxy Resources Limited

Contact:

Iggy Tan
Managing Director
Galaxy Resources Limited
T: +61-8-9215-1700
F: +61-8-9215-1799
http://www.galaxyresources.com.au