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Galileo Mining’s Maiden MRE for Callisto Unveils ‘Platreef’ Style Discovery in Australia

2 October 2023 11:06

Galileo Mining Limited (ASX:GAL) has achieved a groundbreaking milestone with its maiden Mineral Resource Estimate (MRE) for the Callisto deposit, representing the first-ever discovery of a “Platreef” style PGE-gold-nickel-copper deposit in Australia and highlighting the Company’s commitment to exploring the geological potential of its wholly owned Norseman Project in Western Australia, setting the stage for future extensive drill campaigns and potential discoveries.

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Figure 1: Galileo’s Norseman Project with world class regional infrastructure in an established mining district.

A Breakthrough Discovery

The drilling database used for the MRE comprised 93 reverse circulation holes (RC), 6 diamond drill holes (DD), and 48 diamond holes that were extensions of RC pre-collar drill holes (RCD). In total, 147 drill holes were used, covering a distance of 38,695 metres.

With approximately 95% of the resource constrained by pit optimisation and remaining open at depth, there’s ample room for additional resource delineation, underlining the vast growth potential of the Callisto deposit.

The deposit, situated within a granted Mining Lease just 15 km from Norseman town, is characterised by mineralisation similar to the Platreef deposits in South Africa, with this discovery particularly significant, being the first of its kind in Australia.

This insight has expanded Galileo’s exploration horizon to include prospective areas in the North and South Callisto prospects, covering a total of 20 km along the Callisto trend and an additional 12 km of prospective strike length at the Mission Sill prospect.

A Comprehensive Resource Estimate

To assess the potential of the Callisto deposit, Galileo enlisted the expertise of Cube Consulting. The Resource Estimate was based on data collected by Galileo through drilling in 2022 and 2023, with the results of this maiden estimate presented below:

  • Indicated resources of 7.96 Mt with a grade of 0.92 g/t Pd, 0.16 g/t Pt, 0.048 g/t Au, 0.030 g/t Rh, 0.22% Ni, and 0.19% Cu.
  • Inferred resources of 8.76 Mt with a grade of 0.74 g/t Pd, 0.14 g/t Pt, 0.043 g/t Au, 0.025 g/t Rh, 0.19% Ni, and 0.14% Cu.
  • A total resource estimate of 16.72 Mt with a grade of 0.82 g/t Pd, 0.15 g/t Pt, 0.046 g/t Au, 0.027 g/t Rh, 0.20% Ni, and 0.16% Cu for indicated and inferred resources combined.
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Figure 2: Resource classification showing mineralisation continuing at depth

Geological Insights

The Callisto deposit is hosted within the Mt Thirsty Sill, a mafic-ultramafic body intruding the Mt Kirk Formation in the Norseman terrane. This geological context sets the stage for a significant mineralisation opportunity, with an average strike length of 300m and a dip to the east over 800m length down dip. At the western end, mineralisation begins just 75m below the surface, making it relatively accessible.

Exploration and Future Prospects

Galileo believes that the potential for new discoveries within the highly prospective 255 km² project area is substantial, with the Company having already completed additional drilling at the South Callisto prospect, uncovering highly anomalous palladium and platinum results.

With first-pass drilling scheduled for South Callisto and North Callisto in late October, Galileo is poised to continue its exploration journey.

Moreover, the scope for new discoveries extends beyond the Callisto trend, with the Mission Sill prospect offering another promising avenue for exploration and development.

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Figure 3: Prospective strike length along the Callisto trend and at the Mission Sill prospect (background image is TMI1vd magnetics)

Galileo intends to employ a range of techniques, including field mapping, interpretation of magnetic data, and geophysical IP surveying, to pinpoint drill targets within this highly prospective region.

Galileo’s Managing Director Brad Underwood commented, “Galileo’s discovery of the Callisto deposit has been a major breakthrough in understanding the geology and prospectivity at our Norseman Project,” he said.

“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.”

“The nature of the mineralisation at Callisto is analogous to the Platreef deposits in South Africa where several deposits occur over a strike length of tens of kilometres. Applying this knowledge, we will broaden our search for more discoveries starting with the prospective areas at our North and South Callisto prospects. 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.”

“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. The next drill program will test targets at both South and North Callisto prospects and is scheduled to commence in late October. We very much look forward to getting these drill campaigns underway in this exciting new mineral province.”

GAL’s Australian Stock Exchange-listed share price has risen 22.03% today and is currently trading at $0.36 (11am UTC+ 8 hours).

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