- Galileo Mining (GAL) receives the first assays from its Delta Blues prospect in Western Australia
- Three reverse circulation (RC) drill holes were completed at the DB2 target, with all three targeting the top of a large electro-magnetic (EM) conductor
- GAL reports that all three drill holes returned anomalous copper and gold sulphides with up to 0.6 grams per tonne of gold and 0.6 per cent copper
- Now the company is planning follow up diamond core drilling at both the DB2 and DB1 targets, once the new EM survey results are received
- Shares are trading 8.77 per cent higher at 31 cents at 12:56 pm AEST
Galileo Mining (GAL) has received the first assays from its Delta Blues prospect in Western Australia.
The company completed three reverse circulation (RC) drill holes at the DB2 target, which is located within the Fraser Range Belt, with all three targeting the top of a large electro-magnetic (EM) conductor.
Results returned anomalous copper and gold sulphides in all three drill holes with up to 0.6 grams per tonne of gold and 0.6 per cent copper intersected.
GAL said these results confirmed that Delta Blues is prospective for mineralised sulphides, with the top of the EM target verified as sulphide containing anomalous copper and gold.
Galileo Managing Director Brad Underwood said the results were very encouraging and marked significant potential for success.
“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.”
Additionally, the scale of the modelled EM conductor target at Delta Blues is said to be substantial with dimensions up to 500 metres by 500 metres.
Now, the company is planning follow up diamond core drilling at both the DB2 and DB1 targets, once the new EM survey results are received.
The follow up work is set to test for economic mineralisation beneath the currently reported intercepts at DB2 and to determine the source of the strong EM conductor at the DB1 target.
GAL is unsure of the economic implications of the assay results at present and said deeper drilling was required to test the better parts of the EM conductor.
The diamond drilling program is dependant on securing a drill rig, the process of which has been affected by the current labour shortages in WA limiting the ability of contractors to undertake drill programs.
Shares were trading 8.77 per cent higher at 31 cents at 12:56 pm AEST.