- Galileo Mining (GAL) has received results from reverse circulation (RC) drilling at the Lantern South prospect
- The company aimed to expand mineralisation, investigate the stratigraphy at Lantern East and establish pre-collars for diamond drilling
- Pleasingly, drilling has further defined the target ultramafic rock unit at Lantern South with high potential for additional mineralisation
- Drilling has also intersected nickel and copper that’s associated with anomalous gold, platinum and palladium
- Diamond drill core samples have been sent for assaying and results are expected in at least four weeks time
- Company shares have slid 10.6 per cent in early trade, priced at 21 cents each
Galileo Mining (GAL) has received results from reverse circulation (RC) drilling at the Lantern South prospect.
Lantern South is part of the Fraser Range Project which covers 492 square kilometres and lies within the Fraser Range Nickel Belt of Western Australia.
Galileo conducted 1181 metres of RC drilling last month which was split between four RC holes and three pre-collars designed for diamond core tails.
The program aimed to expand the known area of mineralised ultramafic target rocks at the Lantern South prospect, to investigate the stratigraphy at Lantern East and to establish pre-collars for diamond drilling.
Pleasingly, drilling has further defined the target ultramafic rock unit at Lantern South with high potential for additional mineralisation.
Best results include 41 metres at 0.19 per cent nickel and 0.14 per cent copper from 55 metres including 10 metres at 0.26 per cent nickel and 0.23 per cent copper from 78 metres.
Additionally, drilling identified anomalous gold, platinum and palladium.
“This is a great result from only our second RC drilling program in the area. We have expanded the nickel sulphide target zone and are developing our understanding of the mineralisation in preparation for further drilling,” Managing Director Brad Underwood said.
“Lantern South is one of several exciting prospects within our Fraser Range project area and it is highly encouraging that we are hitting nickel and copper at this early stage of exploration,” Brad added.
The company has logged the diamond drill core and samples have been sent to the lab for assaying. Galileo expects to receive the results in at least four weeks time.
Galileo also targeted the Lantern East prospect where it observed a conductive response in moving loop and fixed loop surface electromagnetic (EM) surveys. Unfortunately, drilling didn’t intersect any conductive lithologies and the company plans to follow this up.
The company will conduct further EM surveying using the new data and will drill test the sulphide targets at Lantern South and revised modelled conductor at Lantern East.
Company shares have slid 10.6 per cent in early trade, priced at 21 cents each at 11:01 am AEST.