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Rooster Talk: Discovery time - Galileo drilling at Fraser Range nickel project

The Fraser Range is a world-class region for nickel-copper sulphides and Galileo plans to begin drilling its project next month.

Galileo Mining Ltd - Rooster Talk: Discovery time - Galileo drilling at Fraser Range nickel project
Samso chats with Galileo Mining managing director Brad Underwood

Galileo Mining Ltd (ASX:GAL) is a resources company listed on the Australian Securities Exchange and is exploring for base metals in southeast Western Australia.  The company has 100% ownership of its Norseman Project and has joint ventures with the Creasy Group over highly prospective tenements in the Fraser Range.

The Norseman Project is adjacent to the regional town of Norseman in an infrastructure-rich area of Western Australia. A bitumen highway runs parallel to the project area and is less than 10 kilometres from the company’s current JORC cobalt-nickel resources. The Norseman Project includes numerous areas with potential for further cobalt discoveries as well as additional nickel and copper prospects.

Nova nearology

The Fraser Range Project covers two zones of the extensive Fraser Range geological belt. The Fraser Range is known for the world-class Nova nickel-copper-cobalt mine discovered by Sirius Resources in 2012.

Galileo’s northern Fraser Range tenement is 80 kilometres from the operating Nova mine while the southern tenements are just 30 kilometres from the mine. Galileo is targeting Nova style nickel-copper-cobalt mineralisation in the Fraser Range and has a deep level of experience in the region. 

The company was originally privately owned by renowned prospector Mark Creasy and Galileo managing director Brad Underwood spent eight years as general manager of the Creasy Group’s exploration at the Fraser Range and at Norseman. 

Galileo Mining listed on the ASX in May 2018, raising $15 million in IPO funding. 

Creasy continues to be the largest shareholder, controlling approximately 31% of the company. ASX-listed miner IGO Ltd (ASX:IGO) and Mineral Resources’ founder Chris Ellison are included within the company’s top five largest shareholders. 

Galileo key milestones:

  • 2003 – Registered as a private company wholly-owned by Mark Creasy
  • 2004 – Acquired the Norseman project
  • 2006 – Initial drilling conducted at Norseman
  • 2017 – Maiden JORC Resource completed at Norseman
  • 2018 – Acquired interest in the Fraser Range project
  • 2018 – Launched on the ASX as a public company

Moment of truth

Since the first Coffee with Samso in May, Galileo has been very active in preparing for this moment of drilling targets. We speak of the 'Truth Machine' being what all projects need or fear. In this case, I do believe that this will bring exciting times for shareholders. 

Brad Underwood has been preparing these projects with desktop surveys, geochemistry and geophysics. The obvious next step is to drill the targets identified.

Strong newsflow

Brad tells us that there will be coming news for the next six months. He also tells us about how the geophysics is clean, meaning that the country rocks are not compromising the results. 

Since preparing for the first Coffee with Samso with Brad, I have come to appreciate how unique this area is compared to your normal nickel project. When Brad talked about the unique metal composition, more copper, I think there are more discoveries left in the Fraser Range.

For further information about Coffee with Samso and Rooster Talks visit: www.samso.com.au

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Samso has nearly 30 years of experience in developing business ideas and concepts in the Australasian region.
Samso has worked primarily in the mineral resources industry, capital markets and corporate finance. Noel Ong is the founder of SAMSO.
 
Disclaimer

Samso and affiliated companies accept no responsibility for any claim, loss or damage as a result of information provided or its accuracy. The information provided is general in nature, not financial product advice, see a financial expert before making any investment decision. Your personal objectives, financial situation or needs have not been taken into consideration. There may be a conflict of interest present with commercial arrangements with companies and/or stock held. Samso or an associate may receive a commission for funds raised.

Quick facts: Galileo Mining Ltd

Price: 0.28 AUD

ASX:GAL
Market: ASX
Market Cap: $40.07 m
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