Galileo Mining has announced the discovery of a new sulphide zone at its Norseman project in WA.
The miner recorded a thick sulphide zone open to the north and east of its Callisto prospect in Norseman, as well as its widest drill intersection to date with 72m of mineralisation.
The findings indicate palladium, platinum, nickel, copper and gold.
“Today’s results are firm confirmation of our view that we have only just started to comprehend the full extent and potential of our Callisto discovery,” Galileo managing director Brad Underwood said.
“To intercept 72m of sulphides from our northernmost drill line … is an extraordinary result and a highly encouraging sign for the potential discovery of more mineralisation along strike to the north.”
Galileo is fully funded to implement further drilling programs.
“We have five kilometres of prospective rocks to the north of Callisto and, with $20 million in cash, we have the funding to thoroughly explore the area without needing to raise money in a difficult market,” Underwood said.
“Our geological interpretation indicates that there are multiple mineralised rock units in the area and that the source of these rocks may exist further to the north and east.
“We will be testing this concept over the coming months and are very excited to be exploring a newly discovered palladium-nickel district.”
Since the drilling update was announced, Galileo’s share price has jumped 12.9 per cent on the ASX.