What Does It Mean?
You are correct!
From our dictionary:
sta•lac•tite
(stu•lak'tIt, stal'uk•tIt"),
—n.
a deposit, usually of calcium carbonate, shaped like an icicle, hanging from the roof of a cave or the like, and formed by the dripping of percolating calcareous water.
(stu•lak'tIt, stal'uk•tIt"),
—n.
a deposit, usually of calcium carbonate, shaped like an icicle, hanging from the roof of a cave or the like, and formed by the dripping of percolating calcareous water.