Galileo Mining Limited (ASX:GAL) is a company that comes out of the stables of Mark Creasy. The main project is the Fraser Range Nickel Project and it has returned some promising results from its drilling campaign.
Galileo is drilling again and all indications are that it may come up with some promising results.
The Fraser Range is one of the 'mineral provinces' that I have admired from afar and while nickel has never been my geology and I tend to leave it with the 'experts.
The recent success of Legend Mining and Galileo has perked my interest. Nova Nickel Mine and the Tropicana Gold Mines have been the recent interests for the last decade.
Many companies have come and gone playing the 'nearology' card - all except the tenements that are owned by Mark Creasy. This is why I have an interest in these projects.
About Galileo
Galileo Mining is a resources company listed on the Australian Securities Exchange (ASX) under the code GAL and is exploring for base metals in southeast Western Australia.
The company has a 100% ownership of its Norseman Project and has joint ventures with the Creasy Group over highly prospective tenements in the Fraser Range.
The Norseman Project is adjacent to the regional town of Norseman in an infrastructure-rich area of Western Australia.
A bitumen highway runs parallel to the project area and is less than 10 kilometres from the company’s current JORC cobalt-nickel resources.
Norseman Project includes numerous areas with potential for further cobalt discoveries as well as additional nickel and copper prospects.
The Fraser Range Project covers two zones of the extensive Fraser Range geological belt.
Fraser Range is known for the world-class Nova nickel-copper-cobalt mine discovered by Sirius Resources in 2012.
Galileo’s northern Fraser Range tenement is 80 kilometres from the operating Nova mine while the southern tenements are just 30 kilometres from the mine.
Galileo is targeting Nova-style nickel-copper-cobalt mineralisation in the Fraser Range and has a deep level of experience in the region.
The company was originally privately owned by renowned prospector Mark Creasy and Galileo managing director Brad Underwood spent eight years as general manager of the Creasy Group’s exploration at the Fraser Range and at Norseman.
Galileo Mining listed on the ASX in May 2018, raising $15 million in IPO funding.
Creasy continues to be the largest shareholder, controlling approximately 31% of the company. ASX-listed miner IGO Ltd (ASX:IGO) and Mineral Resources’ founder Chris Ellison are included within the company’s top five largest shareholders.
Key milestones:
- 2003 – Registered as a private company wholly-owned by Mark Creasy
- 2004 – Acquired the Norseman project
- 2006 – Initial drilling conducted at Norseman
- 2017 – Maiden JORC Resource completed at Norseman
- 2018 – Acquired interest in the Fraser Range project
- 2018 – Launched on the ASX as a public company
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