gal.jpg

Galileo Mining Limited

ASX:GAL

Last Price:

$1.290

Our Investment Summary

Date of
Initial Coverage

01-Mar-20

Initial
Entry Price

$0.247

Returns from
Initial Entry

423%



Investment Memo: Galileo Mining (ASX:GAL) - LIVE

Opened: 09-Feb-2022

Shares Held at Open: 1,935,000


What does GAL do?

Galileo Mining (ASX: GAL) is focused on the discovery of base metals in Western Australia. The company is particularly focused on nickel deposits in the Fraser Range region.

What is the macro theme?

Nickel is a critical raw material in the production process of electric vehicle batteries. Nickel makes batteries energy dense so that cars can run further on a single charge. We expect that the electrification of global car fleets will result in exponential increases in Nickel demand globally.

Why did we invest in GAL?

Aiming for a large metals discovery

GAL holds highly prospective grounds in the Fraser Range region. The Fraser Range nickel belt in WA hosts the $1.8 Billion Nova Nickel discovery and more recently the Silver Knight discovery (65% sold for $45M). We are invested in GAL to see it go and replicate a discovery of this magnitude.

Tight capital structure

Mark Creasy currently owns 24.61% of the company whilst Independence Group (Capped at $9.3 billion) owns 8.9%. Creasy was behind the Nova nickel discovery which was sold to IGO for $1.8B. After those two large holders (who hold ~33.5% combined), there aren’t many more shares to go around - which means GAL could re-rate significantly off of a discovery being made.

Experienced management team

GAL’s Managing Director Brad Underwood leads a team that has worked alongside Mark Creasy when they made the Silver Knight Discovery in the same region, Silver Knight’s nickel project was also sold to IGO. The team knows the region and what to look for when it comes to a large nickel discovery.

IGO & Mark Creasy cornerstone investors in a GAL capital raise
Mark Creasy and IGO back $20.4M raise to accelerate drilling

Active explorer

GAL is an active exploration driller running multiple drilling campaigns every calendar year. With $9M cash in the bank, GAL is well-funded to conduct more drilling programs throughout 2022. The more drilling, the more shots on goal when it comes to making a discovery.

What do we expect GAL to deliver in 2022?

Objective #1: Drilling in the Fraser Range nickel province

We want to see GAL run more drilling campaigns in the Fraser Range on well defined targets over the course of 2022.

Objective #2: Define additional Fraser Range drill targets via EM surveying

We want to see GAL run additional EM surveys across its Fraser Range projects as part of target generation work which will give GAL compelling drill targets to hit.

Objective #3: Drilling at the Norseman project

GAL to drill the highest priority targets generated by the recent air core drilling program and any follow-up EM surveys.

Objective #4: Cobalt and palladium exploration at Norseman

As a side bet, we want to see some more progress on Norseman’s cobalt and palladium potential. The project already has a cobalt JORC resource of 25Mt nickel-cobalt laterite. Previous exploration has demonstrated the presence of palladium in soil sampling.

What could go wrong?

Exploration risk

GAL is an early-stage explorer, a lot of the exploration work currently underway is prospective with no discovery formally announced at any of its projects. There is still the risk that GAL makes no discovery and its projects are considered stranded.

Financing risk

GAL is currently well funded ($9M in cash on Dec 31st, 2021) but inherently needs capital markets to stay open to providing finance for high-risk drilling programs. With no revenues or profits, GAL will continuously need to tap investors for more funds.

IGO & Mark Creasy cornerstone investors in a GAL capital raise
Mark Creasy and IGO back $20.4M raise to accelerate drilling

What is our investment plan?

We have been holding GAL since May 2020, with an average entry of 25.5c. We still hold 95.1% of our total investment in GAL

GAL hasn’t really had a big share price run yet as it hasn't delivered any material results from its drilling. We are awaiting some positive drill results or anticipation of positive results which lead to a share price re-rate, where we would look to sell about 25% of our position.


Disclosure: The authors of this article and owners of Next Investors, S3 Consortium Pty Ltd, and associated entities, own 1,935,000 GAL shares at the time of writing this memo. S3 Consortium Pty Ltd has been engaged by GAL to share our commentary on the progress of our investment in GAL over time.


GAL Investment Milestones

Initial Investment: @24.65c
✅ Increase Investment: @23.5c
✅ Increase Investment: @29.1c
✅ Increase Investment: @26c

🔲 Price increases 500% from initial entry
🔲 Price increases 1000% from initial entry
🔲 Price increases 2000% from initial entry
12 Month Capital Gain Discount
🔲 Free Carry
🔲 Take Profit
🔲 Hold remaining Position for next 2+ years


Our Past Commentary on Galileo Mining

Date Title
27-Jun-2022 $ 1.355 Market Mood Swings, Price Discovery & Enterprise Value
21-Jun-2022 $ GAL Hits Sulphides on Every New Hole
06-Jun-2022 $ 1.750 The need for significant investment in rare earths, other critical materials
28-May-2022 $ 1.710 Share price moves on expected vs unexpected announcements
26-May-2022 $ Latest news from Galileo Mining (ASX:GAL) palladium-platinum discovery is getting bigger - Rhodium assays awaiting
21-May-2022 $ 1.170 Commodities super cycles
14-May-2022 $ 0.625 Small caps in a shocking market
11-May-2022 $ GAL Hits a Significant Palladium Platinum Intercept - A New WA Metals Discovery
07-May-2022 $ 0.210 Natural gas and the clean energy transition
04-May-2022 $ GAL hits sulphides, assays pending, what’s to the east?
23-Apr-2022 $ 0.245 What exactly is a share price catalyst?
21-Apr-2022 $ GAL has started RC drilling. We expect to see sulphides - but how much?
11-Apr-2022 $ 0.225 Why we invest in IPOs and our investment approach
12-Mar-2022 $ 0.220 Nickel, the War and Under Investment in Exploration
05-Mar-2022 $ 0.215 Mainstream Media Catching on to the Commodities Supercycle
03-Mar-2022 $ GAL closes in on a palladium - RC Drilling in April
26-Feb-2022 $ 0.190 The War Begins, Cybersecurity, Food Security, Energy Independence and Precious Metals
12-Feb-2022 $ 0.205 Energy Transition Metals, Raw Materials, McKinsey, Supply and Demand Economics
09-Feb-2022 $ AC drilling followed by Strong EM Conductors Under Massive Sulphides - Next Stop RC Drilling
31-Jan-2022 $ 0.195 Inflation, US Fed Reserve, Bond Yield, Cash Buffer Portoflio
18-Dec-2021 $ 0.205 Investing 101: Taking Stock of your Stocks and Diversification
04-Dec-2021 $ 0.230 Omicron, Inflation and Investment Memos
20-Nov-2021 $ 0.260 Australia bets big on Hydrogen at COP26, investment in companies that solve problems
17-Nov-2021 $ GAL hits unexpected massive sulphides in shallow aircore drill program
06-Nov-2021 $ 0.235 COP26, Battery Metals, Green Energy
01-Nov-2021 $ GAL Started Drilling this Morning - More Planned in December
09-Oct-2021 $ 0.250 Investing 101: Key lessons for small cap investors
18-Sep-2021 $ 0.285 Why uranium stocks are soaring, one good movie recommendation
13-Sep-2021 $ 0.295 Quick fire commentary on the six stocks making progress today
11-Sep-2021 $ 0.295 The thematics we are investing in right now
04-Sep-2021 $ 0.000 Annual Reports, Uranium and a Welcome to New Subscribers
31-Aug-2021 $ 0.285 GAL readies itself for next rounds of drilling
28-Aug-2021 $ 0.285 Recap of the KNI IPO and share price run
21-Aug-2021 $ 0.280 Market fluctuations and portfolio news and quick takes
14-Aug-2021 $ 0.360 Bookmark it, a new Pick of the Year is coming next week
11-Aug-2021 $ 0.350 Sulphides intersected - First drill holes test top of GAL’s Sirius-like EM conductor at Fraser Range
07-Aug-2021 $ 0.345 Market swings back up as small caps scramble towards the end of the year
03-Aug-2021 $ 0.305 GAL’s Nickel Drilling Campaign has begun
24-Jul-2021 $ 0.315 Why stocks go into "Quiet Execution Mode", how to spot a cap raise, stock "Confession Season"
17-Jul-2021 $ 0.305 Cash is King, Gold Stocks and Enough of VUL and EMN
14-Jul-2021 $ 0.265 We Increased our Holdings in GAL - while we wait for next piece of news
17-May-2021 $ GAL Reveals Promising Palladium Drill Results
27-Apr-2021 $ 0.290 Our Portfolio Performance from January 1st to March 31st 2021
12-Apr-2021 $ 0.295 GAL Identifies Drill Ready Fraser Range Nickel Target
09-Mar-2021 $ 0.250 No significant sulphides were recorded in this drill hole
05-Mar-2021 $ 0.300 Our Top Two Stocks to Cop a Post-Drop Price Pop
20-Jan-2021 $ 0.280 DOUBLE DOWN ALERT: We Have Just Increased Our Holdings in this Stock
20-Jan-2021 $ 0.280 GAL Ready for Fraser Range Drilling - Starts in Coming Weeks
07-Jan-2021 $ 0.220 Our Stock Picks for 2021
21-Aug-2020 $ 0.315 GAL Just Days Away from Fraser Range Diamond Drilling
13-Jul-2020 $ 0.285 Game Time for GAL: WA Nickel Explorer Set to Drill Advanced Targets
23-Apr-2020 $ 0.235 GAL Drilling Tomorrow – Accelerating in Fraser Range Race to Catch $440M LEG
30-Mar-2020 $ 0.170 Fraser Range Heats Up: $18M GAL Closely Tracking Big Brother $158M LEG
03-Mar-2020 $ 0.150 Is this Mark Creasy Backed ASX Stock the Most Highly Leveraged to a Nickel Discovery?



Investor Presentation

Mark Creasy and IGO back $20.4M raise to accelerate drilling

ASX:GAL Jul 06, 2022 Announcement

Investment Memo: GAL IM-2022
Investment Thesis 1: Experienced management team
Risk 1: Financing risk


This morning our long term exploration Investment Galileo Mining (ASX: GAL) came out of a trading halt having raised capital to accelerate drilling at its new PGE discovery in WA.

GAL managed to raise $20.4M via a placement at a share price of $1.20 per share with the shares expected to be issued on the 13th of July 2022.

Importantly, the placement closed oversubscribed with cornerstone investments by GAL’s major shareholders Mark Creasy and IGO for a combined $8.7M.

Before the placement mining billionaire Mark Creasy owned 24.82% of GAL and IGO 8.89% for a combined ownership of ~34%. After tipping in $8.7M of the $20.4M raised, we expect to see the combined shareholdings of the two increase.

The significance of this is that IGO has previously purchased projects from Mark Creasy backed companies, including the Nova mine for $1.8 billion and the Silver Knight discovery.

We think that the cornerstone investments from both Mark Creasy and IGO are a strong vote of confidence for the recent PGE discovery GAL made and show that there is institutional interest in the company’s projects.

GAL expects to have $26.5M in cash after the capital raise and is already putting the cash to work procuring a third RC drill program which is scheduled to begin at the end of July followed by a diamond drilling program planned to commence in August.

Next: We are eagerly waiting to see what comes from GAL’s ~4,000m of RC drilling to test for extensions to its new PGE discovery.


IGO & Mark Creasy cornerstone investors in a GAL capital raise

ASX:GAL Jul 04, 2022 Announcement

Investment Memo: GAL IM-2022
Investment Thesis 1: Experienced management team
Risk 1: Financing risk


This morning our long term exploration Investment Galileo Mining (ASX: GAL) went into a trading halt “pending the release of an announcement in relation to a capital raising”.

The AFR reports that, “The term sheet sent to potential investors said Galileo would raise $20 million at $1.20 per share” with IGO and ‘mining billionaire’ Mark Creasey expected to cornerstone the raise.

Read the full article here.

Below are our key takeaways:

  • These cornerstone investments from IGO and Mark Creasy come just weeks after the AFR said fund managers believed that IGO was on the hunt for something to buy in the Fraser Range, with GAL seen as the best possible fit.
  • IGO already owns (~8.89%) and Mark Creasy owns (24.82%) of GAL (before the capital raise).
  • IGO has previously purchased projects from Mark Creasy backed companies, including the Nova mine and the Silver Knight discovery.

With GAL’s recent PGE discovery and its current drilling to test for extensions to grow the size of the discovery, the cornerstone investments are just another vote of confidence for what GAL has on its hands.

We are yet to see how the capital raise plays out in its entirety, but we are looking forward to seeing just how much of the reported $20M is taken up by IGO and Mark Creasy.

Next: We are eagerly waiting to see what comes from GAL’s ~4,000m of RC drilling to test for extensions to its new PGE discovery.


AFR says Fund managers tipping GAL as IGO’s next takeover target

ASX:GAL Jun 07, 2022


Investment Memo: GAL 2022

General: Media


The following article from the AFR claims that our long term exploration Investment Galileo Mining (ASX: GAL)has landed on resources investors’ radars, with fundies tipping it as acquisitive IGO’s next potential target”.

Read the full article here.

Below are our key takeaways:

  • IGO has been seeking to restock its deposit book as production from its Nova mine dips and it has just bought Western Areas (for $1.26 billion) to help.

  • Fund managers reckon if IGO were to hunt for something to buy in the Fraser Range close to its Nova mine, Galileo would be the best fit.

  • IGO already owns (~8.89%) of GAL and have previously purchased projects from Mark Creasy backed companies. Including the Nova mine and the Silver knight discovery. Creasy owns 24.82% of GAL and could be a factor in any takeover considerations by IGO.

This type of speculation always seems to come about after a junior explorer makes a new discovery.

With GAL having recently made its PGE discovery we suspect some of the bigger fund managers who previously couldn't invest in GAL because of its size and risk profile (as a junior explorer) are now starting to do their homework.

IGO is currently trading with a market cap of $9 billion and had $442M in cash at the end of the March quarter so we think the finances of a deal like this wouldn't be an issue.

Next: We are eagerly waiting to see what comes from the ~4,000m of RC drilling GAL is doing to test for extensions to its new PGE discovery.


More drilling has started at the new Castillo discovery

ASX:GAL Jun 06, 2022 Announcement


Investment Memo: GAL 2022

Key Objective #3: Drilling at the Norseman project


This morning our long term exploration Investment Galileo Mining (ASX: GAL) announced that its 4,000m RC drilling program at the newly discovered Castillo discovery had started.

In a previous note we mentioned that we are looking forward to this upcoming drilling program as it will ultimately determine whether or not GAL’s PGE discovery extends to the east and will show us just how big the deposit could be.

GAL expects the assay results from the drilling program to become available in late July.

Below is an image of where the drilling program will be targeting:


Rhodium picked up in assays, discovery now more valuable

ASX:GAL May 30, 2022 Announcement


Investment Memo: GAL 2022

Objective #3: Drilling at the Norseman project:


Late last week our long term exploration Investment Galileo Mining (ASX: GAL) put out more assays from the recent discovery hole made at its PGE project.

In a note on Thursday we mentioned that the company was waiting on assay results that were testing the discovery intercept for rhodium mineralisation.

Today we received those results with rhodium values up to 0.094 g/t with average values across the 33m interval of 0.05 g/t.

At first glance this may seem like a low number but the rhodium price trades at ~US$15,450 per ounce as a result of increasing demand for rhodium linked to its use in automotive pollution control systems.

This means that even a small amount of rhodium can add a lot value to any new discovery

For some context, the Platreef project in South Africa which GAL has previously compared its discovery to is a much deeper underground deposit and has rhodium grades measuring ~0.14g/t as part of its ore reserves.

With GAL’s first result coming back at an average grade across the first intercept of 0.05g/t, we think this is a good start especially considering GAL has heaps of drilling to come to test for extensions to its new discovery.

Next: We want to see the 4,000m RC drilling program start to test for extensions to the discovery into the main primary target zone.


Mark Creasy purchases $1.74M in shares on market

ASX:GAL May 16, 2022 Announcement


Investment Memo: GAL 2022

General: Director Buying


Mark Creasy has purchased another $1.74M in shares on market at 58c per share, increasing his shareholding in GAL to 26.35% of the company.

The ASX “change in substantial holding” notice came a day after the announcement last week of a new major palladium/platinum discovery at its Norseman project.

After the share price briefly touched ~70c on the day of the announcement, it's a positive sign that someone with the experience of Mark Creasy steps up and buys up a large chunk of shares when the share price has a minor pullback.

One of the key reasons we continue to hold GAL in our portfolio is because of the high quality management team and the experienced major shareholders backing the company.

We think the aggressive buying by Mark Creasy after the material news put out last week is positive affirmation as to the potential of the new discovery GAL announced.

Check out our 2022 GAL Investment Memo to see all of the key reasons why we hold GAL, what we want the company to achieve this year and the key risks to our Investment thesis.


Galileo presents at Mines & Money

ASX:GAL Apr 05, 2022 Announcement


Galileo Mining (ASX:GAL) is presenting at the Mines and Money conference this week and has today released its presentation to the ASX.

GAL is exploring for base metals in WA and has been held in our Next Investors portfolio for over two years.

The primary reason that we continue to hold GAL in our portfolio is in hope of a large metals discovery. GAL holds highly prospective grounds in the Fraser Range nickel belt which hosts the $1.8 billion Nova Nickel discovery and the more recent Silver Knight discovery (65% sold for $45M). We are invested in GAL to see it replicate a discovery of this magnitude.

However, we have also been impressed with the company’s progress at its Norseman Project, which has delivered strong nickel-copper-cobalt-palladium assays from aircore drilling.

You can see all the reasons why we continue to hold GAL in our portfolio and the objectives that we have set for it to achieve this year in our 2022 Investment Memo, here.

The presentation slides outline GAL’s planned upcoming drilling at its Norseman Project where it has identified palladium, nickel, and copper sulphide targets. A 1,500 metre RC drill campaign is planned to commence this month at Norseman’s Mt Thirsty prospect over five kilometres of untested strike.

This follows first aircore drilling at the project late last year that identified a massive nickel-copper-palladium sulphide intercept at just 60m depth. The follow up geophysical surveys and RC drilling is planned around and below nickel, cobalt, palladium, and platinum drill intercepts.


“Fantastic” nickel cobalt drilling results

ASX:GAL Mar 28, 2022 Announcement


Galileo Mining (ASX:GAL) has reported high grade nickel and cobalt results from first pass aircore drilling at the Norseman Project in WA.

Drilling at the project was one of the key objectives that we set for GAL to achieve this year, as was to see progress on the project’s cobalt and palladium potential. Given today’s results, we mark this as a success.

Results included up to 1.66% nickel and 0.16% cobalt from the Jimberlana prospect add further weight to the area’s prospectivity. This is an area known to have potential as it is underlain by large and highly conductive EM targets. As mentioned in a Quick Take last week, we were particularly interested in drilling where GAL initially hit a 1m massive sulphide intercept right in between two EM conductors, which we wrote about in a longer Note here.

Additionally, palladium and platinum drill results now extend over nine kilometres of strike length along a well-defined geological trend.

Underwood explained that the high nickel and cobalt assays, combined with the elevated levels of precious metals (gold, palladium and platinum), suggest that the results may be related to basement mineralisation beneath and adjacent to the aircore drill holes.

We’ll be watching GAL’s follow up geophysical surveys and RC drilling that’s planned around and below the nickel, cobalt, palladium, and platinum drill intercepts. This will define the best positions for further drill testing.

To see the reasons why we continue to hold GAL in 2022 and all the key objectives that we set for the company to achieve this year see our 2022 Investment Memo here.


More high grade palladium & platinum assays from Norseman

ASX:GAL Mar 24, 2022


Today our long term exploration investment Galileo Mining (ASX:GAL) put out some more assay results from its recent aircore drilling program at its palladium-nickel-cobalt Norseman project in WA.

The results included two of the highest grading drilling results seen to date at the Norseman project with peak intercepts as follows:

  • 8m @ 1.44g/t 2E (palladium + platinum), 0.11% nickel from 8m.
  • 4m @ 1.7g/t 2E (palladium + platinum), 0.11% nickel from 12m.

These grades are especially high for an aircore drilling program.

For context, $2.6 billion capped Chalice’s Julimar discovery has a JORC resource with a palladium grade of ~1.6g/t.

With this latest batch of results, GAL has now proved up to a ~9km strike length and will be following all of these results up with deeper RC/diamond drilling.

With more targets generated worthy of following up with deeper drilling, we think the aircore drilling program has fulfilled its purpose so far, which was ultimately to identify some high priority drill targets for follow up.

We are particularly interested in the upcoming drilling where GAL initially hit a 1m massive sulphide intercept right in between two EM conductors. We have written about this target in our previous GAL note which can be read here.

To see the reasons why we continue to hold GAL in 2022 and the key objectives we set as things we want to see the company achieve in 2022 read our 2022 Investment Memo here.


Significant palladium & platinum results out of Norseman

ASX:GAL Mar 21, 2022


GAL today announced that it has received further positive palladium and platinum assay results from aircore drilling at its Norseman Project in WA.

Six out of seven holes drilled on a single line returned significant results with maximum grades of four metres at 0.69 g/t 2E (palladium plus platinum). The location of the aircore results extends the known strike length of anomalous palladium and platinum to over eight kilometres.

At the very beginning of the air core drilling program GAL hit a 1m massive sulphide intercept and then after running EM surveys in the area found that the intercept sat right in the middle of two large EM conductors.

The primary reason for air core drilling was to set up new drill targets that could be followed up with RC drilling. These results have now identified a new target for follow up RC drill programs, with the aim of locating potentially economic mineralisation.

With GAL confirming PGE’s across a ~8km of potential strike length and the high priority EM targets (Jimberlana) found, we think the air core drilling program has been relatively successful and are looking forward to seeing the follow up drilling across GAL’s Norseman project.

The current and planned drilling sees GAL meet the third objective that we set for it in our 2022 GAL Investment Memo.

While progressing its palladium exploration program, GAL is also working to meet the first two objectives that we identified for the year relating to its Fraser Range nickel project. Having undertaken its first drill program of the year at the Fraser Range project, GAL confirmed that it plans to increase its activities here and continue to develop more targets for drill testing during the year.


Fraser Range Nickel exploration update

ASX:GAL Mar 15, 2022


Yesterday morning GAL put out an update across all of the exploration work ongoing at its Fraser Range project.

The key takeaways for us from today’s announcement was:

  1. 940m of RC drilling has been completed so far across one prospect.
  2. EM surveys progressing across three prospects as part of target generation works for future drilling programs.

Todays announcement confirms to us that GAL is actively working towards delivering objectives #1 and #2 that we set in our 2022 Investment Memo as “what we wanted to see GAL achieve in 2022”.

With EM surveying ongoing across three different parts of its Fraser Range project and an RC drilling program running concurrently GAL is setting itself up for a busy year across its Fraser Range project.

One of the primary reasons we continue to hold GAL in our portfolio is because the company is busy all year round with exploration work which increases the probabilities that a discovery can be made, todays announcement is more confirmation of this.


More palladium from air core drilling at Norseman project

ASX:GAL Mar 08, 2022


Today, GAL announced another batch of assay results from its recently completed 8,700m aircore drilling program at its Norseman project.

The goal of this aircore drilling is to identify targets for follow up RC drilling, and the assay results released today delivered some impressive intercepts, with peak results as follows:

  • 18m @ 0.29g/t palladium from surface.
  • 22m @ 0.21g/t palladium from surface.
  • 32m @ 0.2g/t palladium from surface.

These type results are more than enough for GAL to commit more capital to its Norseman project and come back with heavier rigs that can test these anomalies at depth.

We covered the first batch of results and highlighted what we think is the most interesting target we want to see GAL follow up on its Norseman project in our last note which you can read here.

With the palladium price up ~15% at one point overnight as markets fear supply disruption from Russia (who make up ~40% of global production), if GAL was to make a discovery at the Norseman project it would be coming at a great time.

Our 2022 Investment Memo for GAL has two clear objectives and that is to see the company aggressively drill both its projects, to see this and why we invested in GAL check out our 2022 Investment Memo here.


1,000m RC drilling program commenced in the Fraser Range

ASX:GAL Feb 28, 2022


On Monday, GAL announced that it had started a 1,000m RC drilling program to test three new EM targets as well as re-test two targets in an area that was previously tested with shallow aircore drilling.

In its last round of drilling in ~2018, GAL hit 36 metres @ 0.2% nickel from 18m including a higher grade section of 3 metres @ 0.56 % nickel from 24m during a shallow aircore drilling program where the average depth in each hole was ~41m.

Rarely are nickel sulphide deposits found at that depth and with the nickel price trading at 10 year highs we think GAL is taking shots on goal at the right time in search of a large scale nickel discovery in the Fraser Range region.

Whilst we wait for the assays from ~8,700m aircore drilling program from its norseman project, we will be watching to see if GAL makes any visible sulphide intercepts from this RC drilling program.


RC drilling scheduled on Fraser Range EM targets

ASX:GAL Feb 21, 2022


Today GAL announced that it had contracted 1,000m of RC drilling over some EM targets in the Fraser Range region.

Drilling is planned to commence later this month, and assays to start coming back from the labs in April-May 2022.