Join our daily newsletter At The Bell to receive exclusive market insights
- Galileo Mining (GAL) detects rhodium mineralisation at the Callisto discovery within its Norseman project in Western Australia
- The results come from the previously announced drill hole, NRC266, and were consistent with the interpreted mineralisation at Callisto
- The hole showed rhodium values of up to 0.094 grams per tonne (g/t), with average values across the 33 metre interval of 0.05 g/t
- The company will now add rhodium to the assay suite for higher sulphide intersections in the upcoming drill program
- Shares in the company last traded at $1.41 each
Galileo Mining (GAL) has detected rhodium mineralisation at the Callisto discovery within its Norseman project in Western Australia.
The results come from the previously announced drill hole, NRC266, and were consistent with the interpreted mineralisation at Callisto.
The hole showed rhodium values of up to 0.094 grams per tonne (g/t), with average values across the 33 metre interval of 0.05 g/t.
The company will now add rhodium to the assay suite for higher sulphide intersections in the upcoming drill program.
It believes the metal will see increasing demand due to its use in automotive pollution control systems.
Reverse circulation drilling is scheduled to begin on Wednesday, with 20 holes planned for about 4000 metres.
Managing Director Brad Underwood believes the upcoming drill program will see an increase in metal content due to higher sulphides.
“The rhodium assays confirm the presence of this valuable metal within the Callisto mineralised system,” he said.
“With step out drilling expected to commence next week we will now be including rhodium in the assay suite for any further sulphide rich intersections.”
Shares in the company last traded at $1.41 each.
