Galileo Mining Ltd (ASX:GAL) has received assays from three reverse circulation (RC) drill holes at DB2 target of Delta Blues Prospect within WA’s Fraser Range returning sulphide intercepts with anomalous copper and gold.
The three holes targeted the very top of a large electromagnetic (EM) conductor and all confirmed prospective mineralised sulphides.
Results include:
- 4 metres at 0.29 g/t gold and 0.29% copper from 188 metres including 1-metre at 0.61 g/t gold and 0.66% copper from 190 metres;
- 5 metres at 0.10 g/t gold and 0.25% copper from 167 metres; and
- 4 metres at 0.21 g/t gold and 0.27% copper from 154 metres.
The company is now planning follow-up diamond core drilling to test economic mineralisation beneath the reported intercepts at DB2 and in a bid to determine the source of the strong EM conductor at DB1 target.
“Very encouraging” results
Galileo managing director Brad Underwood said: “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.
“Given we have only drilled the very top of the large EM conductor at DB2 and have yet to identify the source of the conductor at DB1, there is significant potential for success at the Delta Blues prospect and within our Fraser Range tenements more generally.”
Shares have been as much as 9.5% higher in this morning’s trading to 31.2 cents.
Sulphide mineralisation
Geology logging completed by the company at DB2 recorded a thin layer of sediment covering the overlying typical Fraser Range metasediments and mafic granulites near the surface.
The sulphide mineralisation recorded in all drill holes occurs as semi-massive bands surrounded by disseminated sulphide within a mafic intrusion adjacent to a medium-grained felsic intrusion.
Galileo believes that the results may represent a new style of Fraser Range mineralisation with sulphides occurring in association with both mafic and felsic intrusions (logged as gabbro and tonalite).
Follow up drilling
According to Galileo, the economic implications of the assay results from DB2 are at this stage uncertain and deeper diamond drilling is required to test the better parts of the EM conductor at depth.
Underwood said: “Follow up diamond drilling will be undertaken at Delta Blues after we have completed additional downhole and surface EM surveys.
“This will enable us to target the best parts of the conductors and maximise our chances of a successful outcome.”
The timing of diamond drilling is subject to rig availability as Western Australia continues to be affected by labour shortages that limit the ability of contractors to undertake its drill program.