Galileo Mining Ltd (ASX:GAL) has identified intersections of high-value palladium and rhodium from its existing drill hole database with multiple targets developed through a geological interpretation of prospective contact zones.
As palladium and rhodium are high-value 'green' metals critical for pollution reduction, investors have responded positively with shares more than 21% higher to 27 cents intraday.
Around 35 reverse circulation (RC) drill holes have returned anomalous palladium greater than 0.4 g/t in regolith and 16 RC holes with anomalous palladium greater than 0.2 g/t in fresh rock.
Multiple drill-ready targets along more than 5 kilometres of prospective strike have been identified at Mt Thirsty and more than 10 kilometres of strike length has been discovered at Mission Sill.
Results demonstrate “project quality”
Managing director Brad Underwood said: “Our ongoing review of the Norseman Project has delivered results with the recognition of the outstanding prospectivity for palladium in the region.
“The existing drill results demonstrate the quality of the project and have provided the basis for a new understanding of the mineralising processes.
“This has led to the development of robust drill targets with the potential for a significant palladium discovery.
“We will be aggressively pursuing this exceptional opportunity in conjunction with our search for nickel sulphide deposits at the Fraser Range which includes upcoming diamond drilling at the Delta Blues prospect.”
Mt Thirsty and Mission Sill contact zones
Drilling completed in 2016 by Galileo beneath the cobalt-nickel laterite resource at Mt Thirsty intersected a previously unrecognised zone of sulphide containing highly anomalous levels of palladium, platinum, copper and nickel.
This sulphide zone occurs within an ultramafic rock unit interpreted to be an apophysis from the Mt Thirsty sill which itself is visible as a pronounced high in the magnetic map to the east.
The potential for palladium at Mission Sill target has been recognised after a review of the data showed the existence of thicknesses of disseminated sulphide mineralisation (up to 5% in patches) at the contact between the ultramafic and mafic units of the Mission Sill.
This contact position matches the location of multiple zones of anomalous mineralisation up to 74 metres thick containing around 0.2 g/t palladium.
The possibility of higher-grade mineralisation along this contact position is interpreted to be considerable, especially where the geometry and relative exhumation of the sill changes along strike.
Work programs
Planned work programs at Norseman Project include:
- Assaying of existing pulps for rhodium and platinum group metals;
- RC drilling of the known sulphide zones at the Mt Thirsty Sill and the Mission Sill;
- Aircore drilling of the prospective contact zone along strike of the sulphide zones at the Mission Sill and Mt Thirsty Sill; and
- Ongoing target generation work for nickel, copper and cobalt.