Galileo Mining Ltd (ASX:GAL) is encouraged by electromagnetic (EM) data from recent surveys that reveals new targets for drill testing at Lantern East Prospect in the Fraser Range region of Western Australia.
Modelling of the new EM data has created two large and highly conductive models at relatively shallow depths starting from 140 metres below surface.
The company is now planning RC drilling to test the new EM models for sulphide mineralisation.
GAL securities have been as much as 10% higher intra-day to 27.5 cents.
New models developed
Galileo managing director Brad Underwood said: “The additional EM surveys undertaken at Lantern East have enabled new models for the conductive response to be developed.
“The initial model drilled in September was helpful in that, while not intersecting the conductor, it nevertheless offered valuable insights to the modelling.
“We have since collected a lot more data confirming the response and we are aiming to locate the source in the next round of drilling.
“Conductive targets are important as they can represent large accumulations of sulphide minerals containing nickel and copper, and we hope that this is the situation at our Lantern East prospect.”
Five EM data sets
Three new surveys were undertaken to complement the two existing EM data sets at the prospect.
A total of five surface EM data sets have each confirmed the EM response on surface at the margin of a major gabbronorite intrusion.
The new in-loop moving loop survey data has been modelled as a subvertical 430-metre-long body, striking around 310 degrees, with a strong conductance of 2,500 Siemens.
The depth below surface to the top of the body is 140 metres, which is within range of RC drilling.
A revised fixed loop EM model has been created with a similar strike orientation but offset to the south of the in-loop model and has a shorter strike length of 145 metres and a stronger conductance of 3,925 Siemens.
The depth below surface of this model is around 180 metres, which is also within range of RC drilling.
RC drilling of the new conductive targets at Lantern East is scheduled for late November subject to drill rig availability.
Regional moving loop EM surveying is continuing to the north and the south of the Lantern prospect with an expected completion date of mid-November.
Diamond drill core assays from the recent drill program are still pending and are expected to be returned in the next two weeks.