Galileo Mining (GAL:ASX)
“Discovery confirmed!” says GAL, which has now surged ~550% since hitting the PGE-nickel-copper jackpot in hole number one at ‘Callisto’ early this month.
Assays from all drill holes at the prospect, part of the Norseman project in WA, contain significant zones of mineralisation and confirm initial results from the discovery drill hole NRC266.
New highlights include 28 metres @ 1.58g/t 3E (1.29g/t Pd, 0.22g/t Pt, 0.07g/t Au), 0.27% Cu & 0.26% Ni from 137m. There’s strong geological continuity between the holes, spaced 50m apart, GAL says.
Reported assays also occur within wider disseminated sulphide zones “indicating the potential for a large mineralised system”. New drilling will kick off next week, focused on the “thickest and highest grades in the easterly direction”, says managing director Brad Underwood.
“The same program of drilling will then continue to the north as we aim to move from discovery drilling to advanced and detailed resource drilling,” he says.
“The extensive prospective strike, combined with the thick and consistent mineralisation drilled to date, indicates the potential for a large mineralised system. Approximately 20 holes will be undertaken in the coming round of drilling and we look forward to updating the market with results from this exciting new discovery.”