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- Galileo Mining (GAL) has updated the market on its exploration activities within the Fraser Range Nickel Belt in Western Australia
- The company has reported its aircore drilling at the Lantern Prospect is currently underway, however, it will postpose drilling from tomorrow due to the coronavirus
- Downhole electromagnetic surveying from one of its drill holes, LARC003, is planned to commence in two weeks, however, could also be delayed
- Rock chips from that hole are currently being assessed to understand the style of mineralisation in the area
- Galileo is well funded, as it has approximately $4.8 million in cash to spend on exploring the area
- On the market today, Galileo is up 13.3 per cent and is trading for 17¢ apiece
Galileo Mining (GAL) has updated the market on its exploration activities within the Fraser Range Nickel Belt in Western Australia.
The company reported its aircore drilling of magnetic targets north of the Lantern Prospect is currently underway, however, it will postpose drilling from tomorrow due to the coronavirus (COVID-19).
Initial reverse circulation (RC) drilling at Lantern intersected disseminated nickel-copper sulphide mineralisation, demonstrating the area is highly prospective for economic nickel-copper deposits, similar to the company’s Nova mine.
LARC003
Downhole electromagnetic (EM) surveying of hole LARC003, which intersected 12 metres of disseminated nickel-copper sulphide, is planned to commence in two weeks. However, could also be delayed due to COVID-19.
Rock chips from the hole are currently being assessed to understand what style of mineralisation is at LARC003.
The company has also submitted programs of work applications to the Department of Mines in hopes to complete infill drilling around LARC003.
Galileo is also well funded, as it has approximately $4.8 million in cash (as of 30 March 2020) to spend on exploring the area.
Managing Director Brad Underwood says the first RC program has shown that the hole contains nickel-copper sulphides.
“While we wait to complete downhole EM surveying of the mineralised drill hole, we will continue to build a pipeline of targets with aircore drilling,” he said.
“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,” he added.
On the market today, Galileo is up 13.3 per cent and is trading for 17¢ apiece at 1:41 pm AEDT.
