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Galileo Mining confident active exploration schedule could lead to discovery at Fraser Range prospects

During the September quarter 2020, Galileo increased exploration work programs at the Lantern Prospect, completing diamond and RC drilling campaigns as well as EM surveys.

Galileo Mining Ltd - Galileo Mining confident active exploration schedule could lead to a discovery at its Fraser range prospects
New EM surveys at the prospects cover 46 square kilometres - more than twice the current exploration footprint

Galileo Mining Ltd (ASX:GAL) has accelerated exploration activities over the September quarter, completing a diamond drilling campaign, an RC drilling campaign and electromagnetic surveys at its Fraser Range Prospects.

Managing director Brad Underwood said: “Galileo holds some exceptional tenements in the Fraser Range nickel belt and management is focused on making a discovery in the region through an active exploration schedule.

“Our ground has had no previous nickel exploration which provides Galileo with a first-mover advantage on a virgin greenfields property in a new nickel belt.”

Diamond drilling

The diamond drilling campaign at the Lantern Prospect was designed to test deeper nickel prospective targets beneath shallow cover.

Drilling has uncovered disseminated and blebby sulphide mineralisation with assays pending.

Underwood said: “Assays from our diamond drilling exploration, which are expected shortly, will assist us in planning future exploration.

“Drilling results to date confirm we have been able to successfully uncover sulphides in the correct host rocks.

“Our task is to locate the source of these sulphides within the same rocks which we believe have the potential to contain economic quantities of nickel-copper.”

RC drilling

The RC drilling campaign tested mineralisation at Lantern South prospect, investigated the stratigraphy at Lantern East prospect and established diamond drilling pre-collars.

Assay results have expanded the nickel-copper footprint at Lantern South with 41 metres at 0.19% nickel and 0.14% copper from 55 metres (LARC0012), including:

  • 10 metres at 0.26% nickel and 0.23% copper from 78 metres; and
  • Anomalous gold (max 88 parts per billion), platinum (75 parts per billion) and palladium (max 88 parts per billion) associated with nickel and copper interval.

RC drill hole LARC007 and diamond drill hole LARC008D targeted the Lantern East prospect where a conductive response was observed in Moving Loop and Fixed Loop surface EM surveys.

Lantern South Prospect plan view of RC and Diamond Drilling showing sulphide target zone.

Lantern East EM conductors

Post quarter-end, new EM conductors at Lantern East were announced, which have been modelled based on new surveys carried out at the prospect.

Modelling of the new EM data has created two large and highly conductive models for drill testing at relatively shallow depths starting from 140 metres below surface.

Three new surveys were undertaken to complement the two existing EM data sets at the prospect and a total of five surface EM data sets have each confirmed the EM response on surface at the margin of a major gabbronorite intrusion.

Regional EM surveying

Galileo Mining is now completing an extensive program of EM surveying covering around 46 square kilometres of tenure within the  Fraser Range Nickel Project.

The surveys are designed to cover prospective intrusions, identified by aircore drilling and magnetic interpretation, located along strike from the Lantern area.

These new EM surveys will focus on zones both north and south of the Lantern prospects and will dramatically expand the footprint of exploration.

Norseman Project plans

The Norseman Cobalt Project mine lease and miscellaneous licence applications were granted over the period and the company expects these project permit approvals will be a considerable value-add to the existing JORC-compliant resource base at Norseman in the event that cobalt prices recover sufficiently.

It is anticipated that if cobalt prices improve in the future then the Norseman Cobalt Project may again become a significant focus of the company’s exploration and development program.

Soil sampling and mapping at the Woodcutters komatiite nickel targets and VMS copper-gold position has been planned and is scheduled to occur over the coming quarter.

An additional soil sampling program targeting gold and platinum group elements has also been planned over the eastern and northern sections of the Mission Sill.

New EM models at the Lantern East Prospect with initial drill holes (LARC007 and LARC008D) and proposed RC drill holes over EM background.

Fully funded for exploration

Galileo is well funded to continue exploration with approximately $7.7 million in cash as of September 30, 2020.

This puts the company in a secure position to undertake all its planned exploration programs. Estimated expenditure for the upcoming December 2020 Quarter is around $1.0 million.

Quick facts: Galileo Mining Ltd

Price: 0.225 AUD

Market: ASX
Market Cap: $32.2 m

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Galileo Mining identifies new conductor from EM survey at Fraser Range

Galileo Mining Ltd’s (ASX:GAL) Brad Underwood updates Proactive's Andrew Scott on the latest results from a large program of ongoing electro-magnetic (EM) surveying surrounding the Lantern Prospect in the Fraser Range region of Western Australia. He says a new conductor has been identified at...

1 week, 1 day ago

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