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Galileo Mining Has Provided Its Investors Plenty to Smile About of Late

Wally Graham - the Resources Roadhouse - 22-Jul-2019

Galileo Mining has provided its investors plenty to smile about of late.

The cashed-up nickel–copper-cobalt play hit its stride at the company’s Fraser Range project in Western Australia.

Galileo – which listed back in May 2018 and is backed by highly successful prospector Mark Creasy who holds a 31 per cent stake – recently wrapped up a maiden drilling campaign at the Fraser Range project – a Joint Venture 67 per cent-owned by Galielo and 33 per cent-owned by Creasy’s private vehicle, Creasy Group.

The Fraser Range – which lies around 250 kilometres from Kalgoorlie – is an emerging nickel province home to two world-class nickel discoveries, the Nova-Bollinger deposit and the Silver Knight deposit.

Independence Group’s (ASX: IOG) Nova project – discovered back in 2012 on ground Creasy first started picking up back in the 1990s – effectively kicked off the ‘nickel rush’ in the Fraser Range region.

In production since July 2017, Nova produced 22,258 tonnes of nickel and 9,545 tonnes of copper in its maiden year of production.

Meanwhile, Creasy Group’s 100 per cent-owned Silver Knight deposit boasts an initial JORC resource of 4.2 million tonnes grading at 0.8 per cent nickel, 0.6 per cent copper and 0.04 per cent cobalt including a higher grade 200,000 tonnes at 3 per cent nickel, 1.9 per cent copper and 0.17 per cent cobalt.

Importantly, Galileo’s exploration team helped discover Silver Knight when they were part of Creasy Group, highlighting the team’s significant exploration success in the region.

Galileo is hoping another Nova or Silver Knight discovery lies on their tenement portfolio covering 492 square kilometres in Fraser Range, a province the company firmly believes has exceptional potential for new discoveries.

Success at Lantern target

In February 2019, Galileo kicked off an aircore drilling campaign at two high priority targets – the Lantern and Nightmarch prospects – the first drilling to occur at either prospect.

Early results were highly encouraging, with Lantern returning anomalous nickel and copper results from the first drilling program completed.

Best assay results included:

27 metres at 0.18 per cent nickel and 0.17 per cent copper from 47m and 8m at 0.21 per cent nickel and 0.03 per cent copper from 45m.

Galileo considered tis result to greatly improve the prospectivity of the area.

This was backed up by final samples from Lantern, which included a best result of 7m at 0.18 per cent nickel from 45m.

The results were music to the ears of investors and management alike with managing director Brad Underwood quick to point out the program had successfully delineated target zones within Lantern of sufficient scale to potentially host significant economic nickel-copper mineralisation.

“We have been fortunate to hit anomalous nickel and copper in the first ever drilling program given the target zone covers over four square kilometres in size,” Underwood told The Resources Roadhouse.

“This drilling has delivered numerous positive indicators with sample results, mineralogy, and rock types, all increasing the prospectivity of the area.”

Galileo has now wrapped up first round drilling at Lantern with 76 drill holes completed for 4,451 metres.

Geochemical, petrographical, and drill hole logging data identified multiple prospective intrusions over a horizon of around seven kilometres length.

Petrography results from Lantern has also confirmed rock types considered to be capable of hosting magmatic nickel mineralisation.

Follow up work included a wide-ranging ground EM survey in May, which was designed to identify electrically conductive signatures that may represent economic sulphide mineralisation. Empire Rose on the horizon.

At the other end of the Fraser Range belt, approximately 30 kilometres from the Nova mine site, lies Galileo’s Empire Rose prospect where a round of aircore drilling and EM and IP surveys identified a conductive target with potential for sulphide mineralisation at 250m deep.

Drill testing of the prospect is scheduled to start in May with a Reverse Circulation (RC) pre-collar to be followed by a diamond drill tail through the target zone.

Underwood said Galileo had now received drilling approvals for the prospect with drilling scheduled in May.

“The upcoming work at Empire Rose will be the first time Galileo has conducted deep drilling in the Fraser Range,” he said.

“Empire Rose is a stand-out target and it is an exciting time for the company as we prepare for drill testing.”


P.O. Box 415
West Perth
WA      6872

+61 8 9463 0063

Email: info@galileomining.com.au
Web: www.galileomining.com.au

Directors:
Simon Jenkins, Brad Underwood, Noel O'Brien