Company
ASX:GAL
Galileo Mining Ltd (ASX:GAL) is exploring for palladium, platinum, nickel, copper, cobalt and rhodium at its Norseman and Fraser Range projects in Western Australia. Galileo's 100%-owned tenements near Norseman are highly prospective for palladium-copper-nickel sulphide deposits as highlighted by the Callisto discovery in 2022 The company also has joint ventures with the Creasy Group over tenements in the Fraser Range which are prospective for nickel-copper sulphide deposits similar to the operating Nova mine.
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In Rooster Talk Episode 50 Brad Underwood, managing director of Galileo Mining Ltd, says the company is not shying away from exploration with a systematic approach adopted to testing its palladium prospect at Norseman, Western Australia.
"The tenement has never been drilled and, given its proximity to known prospects, is one of the best unexplored tenements in the Fraser Range,” says MD.
The company drill program is designed to develop multiple prospects for follow up RC and diamond drilling programs scheduled for 2022.
"Assay results from the first round of drilling at the DB2 target were very encouraging with anomalous copper-gold sulphides in all three drill holes. Diamond core drilling will aim to determine whether the sulphide occurrences have economi
“Our Norseman project with palladium-nickel-cobalt fits well with our Fraser Range nickel-copper-cobalt project. Both areas have excellent potential for new discoveries as we explore for the metals which will drive the global transition tow
Galileo Mining finished the 2021 financial year strongly, with exploration projects advancing rapidly despite COVID-19 threatening logistical delays, and momentum has continued.
“The assay results from the first round of drilling at our Delta Blues prospect are very encouraging with anomalous copper-gold sulphides in all three drill holes at the DB2 target,” says MD.
Galileo has received firm commitments from sophisticated and institutional investors to raise the $6.5 million. Importantly cornerstone investments have been made by two major shareholders in Creasy Group and IGO Ltd.
The halt will remain in place until the beginning of trade on Wednesday, September 8, or when an announcement is released to the market.
Target generation electro-magnetic (EM) surveying has revealed a new shallow, large and conductive target less than five km from drilled nickel sulphides.
The precious and base metals explorer will follow up its soil sampling results with a first-pass aircore campaign over September and October.
Galileo recently completed its first deep RC drilling campaign at the Delta Blues prospect in WA’s Fraser Range with the mineralised strike expanded.
Initial RC drill testing is completed at DB1 target with hole DBRC004 touching only the very top of the EM model, which was calculated to start between 175 and 255 metres below surface. GAL will undertake deeper diamond drilling to determin
The intersections may represent a new style of Fraser Range mineralisation with sulphides occurring in association with both mafic and felsic intrusions.
The company’s current reverse circulation drilling is planned to intercept the top of the modelled conductors to provide information on the source of the modelled EM anomalies.
“We are pleased with our progress at both the Fraser Range and Norseman projects during the June quarter,” says MD.
Sampling is along strike of two highly prospective zones with maximum soil assays of 0.31 g/t palladium and 0.16 g/t palladium.
Two high priority nickel targets will be tested with 1,000 metres of diamond drilling planned for the initial program at the Delta Blues prospect.
The search for Nickel Sulphides is one of the most challenging for geoscientists in the mineral exploration industry. For this reason, investors, in general, find it hard to comprehend what is required to make a discovery.
Palladium and rhodium have both shown strong increases in prices which correspond with increased demand for the metals in their application as catalytic converters for pollution control.
