Galileo Mining Ltd (ASX:GAL) has underscored the “considerable” potential of the Callisto discovery within the Norseman Project in Western Australia with extensive continuity of rhodium mineralisation unearthed in the second reverse circulation (RC) drilling program on the tenure.
Rhodium mineralisation was discovered in the first four drill holes of this second program, with assays returning:
- 23 metres at 2.19 g/t 4E (1.74 g/t palladium, 0.30 g/t platinum, 0.09 g/t gold, 0.06 g/t rhodium), 0.35% copper and 0.35% nickel from 144 metres;
- 29 metres at 2.28 g/t 4E (1.80 g/t palladium, 0.33 g/t platinum, 0.09 g/t gold, 0.05 g/t rhodium), 0.32% copper and 0.31% nickel from 143 metres;
- 20 metres at 1.83 g/t 4E (1.47 g/t palladium, 0.25 g/t platinum, 0.07 g/t gold, 0.04 g/t rhodium), 0.27% copper and 0.30% nickel from 150 metres;
- 12 metres at 1.86 g/t 4E (1.48 g/t palladium, 0.25 g/t platinum, 0.08 g/t gold, 0.05 g/t rhodium), 0.31% copper and 0.30% nickel from 147 metres; and,
- 22 metres at 1.72 g/t 4E (1.33 g/t palladium, 0.23 g/t platinum, 0.11 g/t gold, 0.05 g/t rhodium), 0.27% copper and 0.27% nickel from 177 metres.
Callisto rhodium adds “considerable potential”
“The latest rhodium assays from our Callisto discovery confirm the presence of rhodium at consistent grades across all the drill holes analysed to date,” Galileo Mining managing director Brad Underwood said.
“The extensive continuity of mineralisation intercepted is remarkable and strengthens our belief that there is more to be found.
“Rhodium is a very rare metal that is predominantly used in automotive catalysts for pollution control as well as for jewellery, and other uses.
“It is almost always produced as a by-product of platinum, palladium, copper or nickel mining. The occurrence of rhodium at Callisto has considerable potential to add value to the overall project.
“We are also encouraged by the metal suite contained at Callisto which is very similar to that found in South Africa’s Platreef deposits. And with the same disseminated sulphide style as seen at Platreef, we are building a geological model which supports the opportunity for further discoveries in the area.
“We currently have a large-scale program of RC drilling underway, and a diamond drill rig is due on site in mid-August.
“Our recent capital raise has given us the funds to further expand drilling as required and with over five kilometres of prospective strike there is a lot more drilling to come.”
With this new knowledge in hand, Galileo will now test all high-grade palladium zones for rhodium going forward.
Rhodium is currently priced at about A$20,878 (US$14,500) per ounce, with demand expected to increase due to the mineral’s use in pollution control systems.