GAL set to drill PGE targets in November

Earlier this week our Investment Galileo Mining (ASX: GAL) put out an exploration update.

GAL published a set of assay results from its latest round of RC drilling to the north of its existing Callisto discovery.

For those who haven't followed the story. GAL first ran a set of geophysical surveys to rank drill targets, then systematically drilled them out over the last few months.

GAL’s focus was on the targets immediately to the north of its existing discovery.

The best hits across those holes was the 8m hit at 0.21g/t PGE from 128m.

While it was good to see GAL hit mineralisation, the assays were not high enough of a grade for GAL to be declaring a new discovery on its own.

For some context GAL’s existing discovery has a JORC resource of 17.5Mt at 2.3g/t palladium equivalent or 0.52% nickel equivalent.

That discovery was what took GAL’s share price to ~$2 per share back in early 2022.

So it's clear the grades need to be at or above those levels for the market to get excited and re-rate GAL’s share price.

GAL to continue drilling in November

GAL also mentioned in its announcement that it would target its Mission Sill prospect with its next round of drilling.

Mission Sill is where GAL has ~12km of strike to test - that area is to the southeast of GAL’s existing discovery.

GAL expects to start a 5,000m aircore drill program along ~10km of that area in November.

For the aircore drilling, we want to see GAL find mineralisation that warrants following up with deeper drilling.

What’s next for GAL?

Aircore drilling at Mission Sill prospect 🔲

GAL expects to start the 5,000m aircore drill program in November.