Further south in WA, Galileo Mining has stirred the market with news confirming a possible significant palladium-platinum discovery at its Norseman prospect – the region is better known for gold and nickel.
The excitement has come from three separate strikes in a single drill hole from 144 metres to 177 metres, holding out the possibility that there could be a significant area of mineralisation about 140 to 200 metres below the surface
Galileo revealed a 33-metre intersection at two grams to the tonne (g/t) of 3E minerals (palladium, platinum and gold) in one drill hole from 144 metres. That comprised 1.64 g/t palladium, 0.28 g/t platinum and 0.09 g/t gold. Assays of 0.32% copper and 0.30% nickel was also found in the same hole.
This intersection was located within a wider 55-metre disseminated sulphide zone from 121 to 186 metres, suggesting the presence of a larger mineralised system.
Galileo also hit 6 metres at 2.69 g/t 3E, 0.41% copper and 0.36% nickel from 159 metres, as well as 1 metre at 3.21 g/t 3E, 0.48 per cent copper and 0.46 per cent nickel from 176 metres.
Galileo managing director Brad Underwood said in the ASX statement the discovery highlighted Norseman’s growing potential.
“This an exceptional result from our Norseman project and with every drill hole undertaken so far intersecting mineralisation, we are hopeful that the initial drill hole will translate into a high-quality resource for mining,” he said. “While we are at an early stage in the discovery process, the thick and consistent zone of mineralisation, and the extensive prospective strike length, suggests the potential for a large mineralised system.”
Galileo has named the prospect Callisto, and has drilled six holes so far.
“In addition to Callisto, we also have multiple platinum group elements-nickel-copper targets at our Jimberlana and Mission Sill prospects to the south that offer new opportunities for further discoveries,” he said. “Galileo remains fully funded with $8.2 million at the end of the March quarter and able to continue aggressive exploration programs at all our projects.”
Assays from a further five drill holes are pending, while more sampling is taking place from the single NRC266 hole.
Well known WA prospector Mark Creasy owns a 24.6% stake and IGO owns 8.9% – which puts it in the box seat to snap up the company if the prospect is proved up.
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