GAL hits sulphides at Jimberlana - more assays on the way.

Our long term exploration Investment Galileo Mining (ASX: GAL) has hit sulphides at its Norseman project in WA.

GAL is currently running two drill programs:

1. At its Callisto discovery - GAL is drilling to extend its discovery and work toward a maiden JORC resource estimate for the project.
2. At its Jimberlana/Norseman targets - here GAL is chasing a second discovery.

Today’s news came from GAL’s Jimberlana prospect - one of the two targets GAL is focused on with this round of drilling.

Going into this round of drilling we had mentioned in out last GAL note that we wanted to see visual sulphides in the drill chips. Sulphides are the type of rocks that host most of the worlds economic nickel-copper-PGE deposits.

Today’s results sit inside our Bull case for the results with GAL hitting semi-massive sulphides:

• ✅ Bull case = Visual sulphides (bonus if they are massive sulphides).
• Base case = Indications of sulphides (needing to be confirmed).
• Bear case = nothing found.

GAL also managed to announce assays from the first two holes drilled which showed relatively low grades of nickel, copper and PGE’s - ideally we would have wanted to see grades closer to 1% (nickel and copper) and 1-2g/t PGE.

As mentioned earlier, we were less focused on grades with this drill program and more focused on finding the right type of rocks.

We also noticed that GAL would use the data from this drill program to build a geological model of the targets and then plan its next round of drilling.

Assays from the remainder of the drillholes are expected in August.

Context on Jimberlana and Mission Sill:

Here is what we know about the targets:

1. Aircore drilling in November 2021✅ - the aircore program delivered some strong PGE grades from shallow depths... an unexpected win and a reason to go back in and drill more on its own.
2. Massive sulphides clipped with the aircore rig ✅ - this was perhaps the biggest unexpected news. GAL hit massive sulphides with its aircore rig - massive sulphides are usually not found at such shallow depths and rarely ever found with an aircore drill program.
3. Strong EM conductors founder under the massive sulphides ✅ - GAL ran downhole EM and found two distinct EM conductors below.
4. Deeper follow up drilling hits sulphides ✅ - GAL followed up the previous hits with a 4,000m RC drill program and has now hit semi-massive sulphides at depth.
5. Assays from the program pending 🔄 - More assay results are expected in August after which GAL will build a geological model of the two targets and plan its next round of drilling.

Now we know, GAL has the right type of rock structures to make a new discovery.

We now need some exploration luck and higher grades for GAL to declare a new discovery.

What’s next for GAL?

Resource definition + step out drilling at Callisto 🔄

GAL is currently drilling to define a maiden resource estimat at its Callisto discovery.

A resource model will not only give the market an idea of how big GAL’s discovery is BUT also help with future drill programs and drill targeting.

Drill program at Mission Sill & Jimberlana 🔄

4000m RC drill program across these two prospects.

Assay results from the drill program are expected in August.