Galileo (ASX:GAL) establish Australia’s first Platreef PGE depositOctober 2, 2023
Galileo Mining has brought in a landmark maiden resource at the Callisto discovery and established a new mineral province in Western Australia from the nation’s first identified Platreef-style PGE-gold-nickel-copper deposit at its Norseman project.
The Maiden Indicated and Inferred Estimate stands at 17.5 Mt @ 1.04g/t 4E, 0.20% Ni and 0.16% Cu for 585,000oz 4E, 35kt Ni and 28kt Cu of contained metal.
The first Australian deposit of its kind is analogous to the Platreef deposits which form South Africa’s dominance in the platinum sector, sitting within a 255 square kilometre project area with all prospective territory under the Galileo banner.
Galileo Managing Director Brad Underwood said the company’s discovery has proven a major breakthrough in understanding the geology and prospectivity of its project.
“We have now defined a significant resource from a total of 147 drill holes (38,695m) within an established mining district of Western Australia. The discovery occurs on a granted Mining Lease just 15 km from the town of Norseman and with extensive nearby infrastructure including gas pipeline, water pipeline, railway, and sealed highway,” Mr Underwood said.
Mr Underwood added that with the nature of mineralisation being Platreef-analogous, there was the potential for multiple deposits along a long stretch of strike, the company could apply its knowledge and broaden the search for more discoveries, starting with prospective areas at Callisto North and South.
“Ultimately, we believe this search space will encompass the full 20km of the prospective host rocks at the Callisto trend and the further 12km of prospective strike length at the Mission Sill prospect where similar geology has been intersected in drilling,” he said.
“We believe the potential for new discoveries within our project area is high and will be undertaking extensive drill campaigns aimed at generating new discoveries. We very much look forward to getting these drill campaigns underway in this exciting new mineral province.”
Galileo is planning to get drilling over both prospect areas later this month, covering a combined nine kilometres of prospective ground.
A standard sulphide flotation has demonstrated excellent recoveries coming from the consistent and continuous sulphide mineralisation, and more assays are due from Galileo’s latest drilling campaign as it gets a clearer image of the discovery potential under its control at Callisto.
Please note the following valuable information before using this website.
Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.