Palladium grades increasing; corridor expands

Diamond core drill assays are starting to come in from Galileo Mining’s (ASX:GAL) Callisto palladium-platinum discovery at its Norseman Project in WA.

GAL has so far completed 25 diamond core drill holes and yesterday reported on assays from drillhole NRCD279m, which included 5 metres @ 3.28 g/t 3E (2.64 g/t palladium, 0.46 g/t platinum, 0.18 g/t gold), 0.54% copper & 0.45% nickel from 265m:

These results — 3E (palladium + platinum + gold) grades above 3g/t intercepted over a five-metre interval — are from the lower disseminated sulphide zone at Callisto and show palladium-platinum-gold-copper-nickel grades increasing at depth.

GAL expects further assays to be back from the lab from mid-November onwards. We look forward to these results, especially given managing director Brad Underwood’s comment:

“...we believe that the potential for further success continues to be exceptional”.

We note that these results further expand the west-east corridor, with the distance between the western most drill hole that had significant assays and hole NRCD279 in the east now measuring over 500 metres and it remains open in both directions.

Plus, GAL still has over five kilometres of prospective rocks to explore to the north. (GAL expects assays from regional scout RC drilling to the north to be back from the laboratory in early to mid-November.)

A lot more drilling is needed to determine the full extent and grade of palladium and other metals in the Callisto region. That shouldn’t be a problem, with GAL confirming in its quarterly activities report this morning that it remains well funded to continue drilling with around $23.5M cash in the bank.

On Monday we took a deeper dive into GAL’s exploration program at Callisto, providing 3D models of our interpretation of the drilling results to date.

You can read that report here: Understanding it all… in 3D.