Galileo Mining has identified exploration targets in the Fraser Range, Western Australia that it has compared with the style of Independence Group’s (IGO) Nova nickel-copper-cobalt ore body.
The Mark Creasy-founded company, which listed on the Australian Securities Exchange (ASX) in May, has revealed “two circular anomalies coincident with magnetic signatures similar to the intrusive rocks” that host Nova.
Galileo has completed detailed gravity surveying at the Nightmarch prospect 60km along strike of the Creasy Group’s Silver Knight discovery.
The results showed the area was highly prospective at shallow depths with modelling indicating target rocks from 36m below surface, the company today reported.
Galileo managing director Brad Underwood said the gravity results were a first step in progressing the company’s Fraser Range project, where no nickel exploration drilling had been completed.
“The shallow cover over the Nightmarch prospect area means that no exploration for base metals has ever been completed on the tenement,” Underwood said.
“Using modern high-quality gravity and magnetic surveying has allowed us to see below the cover rocks with great results.
“With next generation mineral deposits more likely to be discovered in areas that have been traditionally overlooked we are very encouraged that our first program has yielded such good results.”
Galileo’s upcoming work at the Fraser Range will include securing permitting approvals for first pass drilling at the Nightmarch prospect.
It will also pursue permitting for an electro-magnetic survey at the Empire Rose prospect that will be designed to detect conductive nickel-copper-cobalt ore bodies.
Underwood said the Fraser Range was developing into a significant mineralised province with two confirmed discoveries at Nova and at Silver Knight.
“Galileo is very optimistic that further discoveries will be made in the Fraser Range and we will be pursuing an aggressive exploration program to create value for our shareholders,” he said.
IGO’s Nova operation has been in production since July 2017 and is running at its nameplate 1.5Mt/y mining rate.
Nova produced 22,258t of nickel, 9545t of copper and 740t of cobalt in the 2018 financial year.
IGO is also strengthening its position in the Fraser Range in search of another Nova.
Last month, it secured a $21 million tenement purchase agreement with the Creasy Group to earn a 70 per cent share in the Southern Hills tenements in the area.