Two targets at Delta Blues 1 prospect have high modelled conductivities up to 4,100 Siemens and occur between 300 and 600 metres from sulphides identified in aircore drilling.
Both these targets are around 4 kilometres along strike from Legend Mining Limited’s (ASX:LEG) Crean Prospect where drilling has identified ultramafic intrusive rock units prospective for nickel sulphide mineralisation.
“A strong foundation of prospects”
Galileo managing director Brad Underwood said: “The new results from Delta Blues confirms our view that this is one of several top-quality prospects we have identified in the Fraser Range.
“We are developing a solid foundation of prospects with great potential for nickel mineralisation.
“It has been just two years since our first aircore drilling program on our greenfields tenements in the northern Fraser Range.
“We are now in a position where we have targets ready for drill testing at our Lantern Prospect and new targets developing at our Delta Blues and Green Moon prospects.
“Our drilling programs in 2021 are designed to test these targets with the aim of making new discoveries.”
Shares have been as much as 8% higher to 40 cents this morning and have risen from 19.5 cents on at the market close on December 18.
Delta Blues conductors with aircore drilling and neighbouring prospects (over TMI Magnetic Image).
Infill EM surveying of the newly identified targets is planned to be undertaken in conjunction with ongoing regional surveying at the Delta Blues Prospect.
Infill surveying is expected to be completed this quarter with drill planning to start upon receipt and interpretation of the supplementary data.