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Galileo Mining Ltd.
Summary
| Project: | Fraser Range | |
|---|---|---|
| Deposit: | Latern | |
| Location: | Australia | |
| Commodities: | Nickel-Copper | |
| Date: | 3/26/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 26-3-2019: Galileo Mining Ltd. announces an Exploration/Drilling Update report for its Latern deposit at the Fraser Range project. Drilling results incl. 27m @ 0.18% Ni, 0.17% Cu from 47m. Galileo Mining Ltd (ASX: GAL, “Galileo” or the “Company”) is pleas | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Brad Underwood (Internal) | |
| ABSTRACT: | Galileo Mining Ltd (ASX: GAL, “Galileo” or the “Company”) is pleased to announce the second round of laboratory assay results from maiden aircore drilling at the Company’s Lantern Prospect within the Fraser Range province in Western Australia. Highly anomalous nickel and copper assays have increased the prospectivity of the area and strengthened Galileo’s interpretation of Lantern as a magmatic system with multiple prospective intrusions. Sulphide minerals were also recognised in rock chips at the drill site and sent for petrological examination. Figure 1 shows a coarse pyrite chip in a mafic host rock with chalcopyrite identified under the microscope in the same drill hole. Commenting on the second assay results, Galileo Managing Director Brad Underwood said that the Lantern area was quickly developing into an outstanding prospect with only one shallow aircore drilling program so far completed. “Following on from our initial assays at the Lantern Prospect (1), the project continues to deliver high quality results. Today’s announcement has enhanced the area’s prospectivity with new assay results, sulphides in rock chips, and encouraging host rock geology, all supporting our view that the Lantern Prospect may hold significant economic nickel-copper mineralisation. We have been fortunate to hit anomalous nickel and copper in the first ever drilling program given the target zone covers over four square kilometres in size. We take this to be a very encouraging sign for the overall prospectivity of the area.” First round drilling at the Lantern and Nightmarch Prospects has now been finished. A total of 76 drill holes were completed at the Lantern Prospect with 4,451 metres drilled. Average drill hole depth was just 59m with cover rock typically between 40 and 60 metres over the target Proterozoic basement. At the Nightmarch Prospect 987 metres were drilled over 17 drill holes for an average depth of 58 metres. The shallow depth of cover has facilitated a quick interpretation of the basement rock with first pass drilling providing substantial information for the determination of relative prospectivity. Figure 2 – Nova (left) and Lantern (right) Magnetic Signatures Showing Similar Scale of Target Intrusions. The initial drill line at Lantern is shown as the 2km section line (1) | |
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