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- Base metals explorer Galileo Mining (GAL) detects rhodium in assays from its first four holes of a recent reverse circulation (RC) drilling program at its Norseman project in WA
- The company says it has confirmed the presence of rhodium at consistent grades across all the drill holes completed as part of the program at the Callisto discovery
- Galileo Managing Director Brad Underwood says the occurrence of rhodium at Callisto has “considerable” potential to add value to the overall project
- Rhodium is the rarest and most expensive of the platinum metals, with its uses ranging from pollution control in cars to jewellery
- Galileo Mining shares are up 3.2 per cent to $1.13 at 10:48 am AEST
Base metals explorer Galileo Mining (GAL) has detected rhodium in assays from its first four holes of a recent reverse circulation (RC) drilling program at its Norseman project in WA.
The company drilled the holes at the Callisto discovery within the project area and has now confirmed the presence of rhodium at consistent grades across all the drill holes analysed to date.
Following the rhodium assays, the newly updated intersections from the drilling program include a 23-metre hit at 2.9 grams per tonne (g/t) 4E, 0.35 per cent copper and 0.35 per cent nickel from 144 metres. The four elements (4E) referred to in the assay results include palladium, platinum, gold and, now, rhodium.
Rhodium is the rarest and most expensive of the platinum group metals.
Galileo Managing Director Brad Underwood said the continuity of mineralisation intercepted in the area was “remarkable” and strengthened the company’s belief that there was more to be found.
“Rhodium is a very rare metal that is predominantly used in automotive catalysts for pollution control as well as for jewellery, and other uses,” Mr Underwood said.
“It is almost always produced as a by-product of platinum, palladium, copper, or nickel mining. The occurrence of rhodium at Callisto has considerable potential to add value to the overall project.”
He said the company was busy completing a large-scale RC drilling program at the proejct, with a diamond drill rig due to the site in mid-August.
Moreover, thanks to a recent $20.4 million capital raise, Galileo said it had the funds to further expand drilling as required.
“With over five kilometres of prospective strike, there is a lot more drilling to come,” Mr Underwood said.
Galileo Mining shares were up 3.2 per cent to $1.13 at 10:48 am AEST.
