Join our daily newsletter At The Bell to receive exclusive market insights
- Galileo Mining (GAL) was up as much as 22 per cent on the market this morning after announcing it had intersected massive sulphide at its Norseman Project in WA
- The company is currently halfway through a 10,000-metre aircore drilling program designed to highlight ares of interest for futher diamond and reverse circulation drilling
- Best results come from hole NAC105 which intersected massive sulhpide at the end of hole as well as minor amounts of nickel and copper mineralisation
- Samples have been sent to the laboratory for priority analysis with results expected in roughly four weeks
- Shares in Galileo are still up 17.1 per cent on the market and are trading at 24 cents
Galileo Mining (GAL) was up as much as 22 per cent on the market this morning after announcing it had intersected massive sulphide at its Norseman Project.
The Norseman Project lies 10 kilometres from the town of Norseman in Western Australia and hosts prospects that are prospective for copper, cobalt and nickel mineralisation.
Galileo is currently at the halfway point of a 10,000-metre aircore drilling program designed to highlight areas of interest for further diamond and reverse circulation (RC) drilling.
The best results so far come from hole NAC105 which was drilled to a depth of 61 metres and intersected massive sulphide at the end of the hole.
Additionally, handheld X-ray fluorescent (XRF) readings indicated minor amounts of nickel and copper mineralisation.
Samples have been sent to the laboratory for priority analysis with results expected in roughly four weeks.
Composite samples from the neighbouring holes have also been sent for analysis with results from these holes expected in around eight to 10 weeks.
Managing Director Brad Underwood commented on the program.
“Hitting massive sulphide in an aircore drill program is an exceptional result. Although the portable XRF measurements show minor amounts of nickel and copper, the overall context of the mineralisation is incredibly prospective,” Mr Underwood said.
“Follow up work on the massive sulphide prospect will include electromagnetic surveying to define the orientation of the target prior to RC drill testing which is planned for 2022.”
Shares in Galileo were still up 17.1 per cent on the market and were trading at 24 cents at 11:24 am AEDT.
