GAL releases assays from Norseman project, WA
Our Investment Galileo Mining (ASX: GAL), just put out assay results from its Norseman project in WA.
The latest batch of assay results are from a ~4,500m aircore drilling program that was completed in March.
The drill program was to test parts of the ~12km prospective trend at the company’s Mission Sill prospect.
The primary objective was to rank new drill targets - not so much to make a new discovery but to see if there were any interesting targets that require deeper drilling.
It’s the same approach that led to GAL’s first discovery at Calisto.
Back in 2022 GAL ran an aircore drill program, then followed it up with deeper RC drillholes and made its Calisto discovery.
Off the back of the discovery GAL’s share price went from ~$0.20 to ~$2 per share.
GAL has managed to define a resource for its Calisto discovery but the share price has come off a fair bit from the highs partially because of drilling results but mostly because of the negative macro sentiment for nickel/PGE projects.
The past performance is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.
Today’s results showed two key areas of interest:
AND GAL confirmed that a follow up drill program would be planned after all of the assays from the aircore program were received.
We will definitely be watching out for those assays and the planned follow up program from GAL.
What’s next for GAL?
Norseman Project (100% owned by GAL)
- 🔄 Remaining assay results from aircore drilling
- 🔲 Follow up RC drill program
Fraser Range project (67% owned by GAL, 33% owned by Creasy Group:
- 🔄 Final review of EM data and target generation work
- 🔄 Permitting and drilling start in H2-2025
