✅ Assays: More palladium from aircore drilling at Norseman

Published 08-MAR-2022 16:28 P.M.

1 min read

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.