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Galileo Mining extends significant nickel and sulphide mineralisation at Callisto

Tue 21 Jun 22, 10:02am (AEST)
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Key Points

  • Four drill holes intersected significant nickel and copper sulphides
  • Geology across the Callisto Discovery appears quite consistent, with 250m of known mineralisation
  • A second drill rig has been deployed to increase production

Galileo Mining (ASX: GAL) has intersected more sulphide mineralisation as part of its follow-up drilling at the Callisto Discovery at its Norseman project in Western Australia.

All four drill holes intersected significant sulphide mineralisation, with X-ray analysis confirming the presence of nickel and copper sulphides, interpreted to extend at least 250m across strike. The results were consistent with the palladium-platinum-gold-copper-nickel intercepts announced on May 26.

The samples from the four drill holes have been submitted for laboratory analysis, with results expected in late July. 

Galileo hopes to mitigate adverse weather conditions by deploying a second drill rig to increase production rates. The second rig is scheduled to arrive on site on Wednesday, June 22 and support the remaining 16 drill holes planned for the current program.

“Drilling is ongoing with another 16 holes planned over the next three to four weeks,” said Managing Director Brad Underwood. 

"Presently we have shown mineralisation occurs over 250 metres across strike and, with five kilometres of prospective strike to the north, we have a lot more drilling to come."

Galileo shares have held up relatively well amid heightened market volatility and weakness among green metal peers.

The stock is up 6.5% in June and 26% away from its brief all-time high of $1.94.

Galileo Mining Ltd (ASX GAL) Share Price - Market Index
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Written By

Kerry Sun

Finance Writer & Social Media

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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