GAL - Galileo Mining

[System]

Galileo Mining Limited is an Australian incorporated and based mineral exploration company which holds interests in mining tenements located near Norseman and the Fraser Range in Western Australia.

The Norseman Project is located adjacent to the regional town of Norseman in an infrastructure-rich area of Western Australia. A bitumen highway runs parallel to the project area and is less than 4km from the Mt Thirsty prospect. The Norseman Project includes other areas prospective for further cobalt discoveries within 20km of the town.

The Fraser Range Project covers two zones of the extensive, 400km long, Fraser Range geological belt. The Fraser Range geological belt has proven prospects for nickel mineralisation with the 2012 discovery of the Nova-Bollinger nickel-copper-cobalt mine. The southern tenements, Yardilla, contain the Yardilla prospect and straddle the Eyre Highway east of Norseman.

It is anticipated that GAL will list on the ASX during May 2018.

http://galileomining.com.au

 

[greggles]

Solid start for Galileo Mining on its first day of trading. Listed at 20c and currently trading at 32c.

Some more info here for those interested: https://www.australianmining.com.au/news/mark-creasy-founded-galileo-list-asx/

 

[mullokintyre]

GAl released some reasonable drill results today.
One of the few green stocks on a red day.

 

[frugal.rock]

One of the few green stocks on a red day.

And this time without news...well into the green.
@peter2 special HV BB (high volume breakout bar ?) Biggest volume day in 4 months or so.
One to watch, no idea on FA.

 

[mullokintyre]

And now into a trading halt.
Will it be good or bad news??

 

[Dona Ferentes]

And now into a trading halt.
Will it be good or bad news??

GAL requests a halt in trading of its securities, pending the release of a response to an ASX Price Query letter.


- or the usual.
Nothing to see here (5 Day, 15 miniute chart):

 

[frugal.rock]

The FA story potentially worth further investigation.... recent announcements causing decent movement. Not held.

 

[peter2]

I mentioned in another thread that I was caught by a rapidly falling price in a trade in GAL. I owned my mistake but it appears that the price movement may have been aided by some scurrilous social media posts.

 

[frugal.rock]

An announcement on ASX PIL also referencing the hot plopper website recently.
Aren't we glad to have ASF.

 

[Sean K]

I mentioned in another thread that I was caught by a rapidly falling price in a trade in GAL. I owned my mistake but it appears that the price movement may have been aided by some scurrilous social media posts.

There's been a couple of significant stock movements in the past few months - a couple of days prior to announcements by the looks. Huge move 4-5 Mar - ann 8 Mar. Massive jump 9-12 Apr - Ann 14 Apr. Huge decline 17-20 Aug - Ann 23 Aug. Didn't read the anns to see if they were good or bad so who knows? My guess is that these facts were raised in a non-complimentary way. Looks like normal ASX behaviour to me.

 

[mullokintyre]

More leaks than an Xj12 Jaguar.
Mick

 

[doogie_goes_off]

This just went boom. Massive sulphides in end of hole. Could this be the next Julimar??

 

[qldfrog]

anyone else caught that rockets?

Bought at 24c 26/04 , sold at open this morning 66c...one of my best return ever..system based+ luck....

 

[barney]

anyone else caught that rockets?

Bought at 24c 26/04 , sold at open this morning 66c...one of my best return ever..system based+ luck....

Well done Frog! Great when a plan comes together.

Just for comparison, here is a picture of a couple of my recent ROCKETS , lol

 

[qldfrog]

Well done Frog! Great when a plan comes together.

Just for comparison, here is a picture of a couple of my recent ROCKETS , lol

View attachment 141478

Don't worry for a star shooter, i have dozen of underground borers

 

[Dona Ferentes]

This just went boom.

Noticed in @barney 's thread that GAL went up 50% yesterday on an Ann.

MAJOR PALLADIUM-PLATINUM DISCOVERY AT NORSEMAN
Highlights
• Discovery drillhole at Galileo’s Norseman project returns significant palladium-platinum-gold-copper-nickel mineralisation over 33 metres;
• 33 metre assayed intersection occurs within a wider 55 metre disseminated sulphide zone (126 – 181m) indicating the potential for a large mineralised system
• Geological similarities to South Africa’s extensive Platreef palladium-platinum-gold-rhodium-copper-nickel deposits
• Assays from a further five drill holes are pending as well as the remainder of NRC266. Strong geological continuity between drill holes with all drill holes intersecting disseminated sulphides

But today a Presentation came out, which sort of hints there could be a cap in hand raising?

Gave up 20%, now 52c

 

[Dona Ferentes]

and now 77c. Second breath. Management doing the rounds of the mining 'journos' and chat sheets, webinars in the pipeline

 

[Dona Ferentes]

Pushing higher, now $1.16 and got as high as $1.33 on Friday

Further south in WA, Galileo Mining has stirred the market with news confirming a possible significant palladium-platinum discovery at its Norseman prospect – the region is better known for gold and nickel.

The excitement has come from three separate strikes in a single drill hole from 144 metres to 177 metres, holding out the possibility that there could be a significant area of mineralisation about 140 to 200 metres below the surface

Galileo revealed a 33-metre intersection at two grams to the tonne (g/t) of 3E minerals (palladium, platinum and gold) in one drill hole from 144 metres. That comprised 1.64 g/t palladium, 0.28 g/t platinum and 0.09 g/t gold. Assays of 0.32% copper and 0.30% nickel was also found in the same hole.

This intersection was located within a wider 55-metre disseminated sulphide zone from 121 to 186 metres, suggesting the presence of a larger mineralised system.

Galileo also hit 6 metres at 2.69 g/t 3E, 0.41% copper and 0.36% nickel from 159 metres, as well as 1 metre at 3.21 g/t 3E, 0.48 per cent copper and 0.46 per cent nickel from 176 metres.

Galileo managing director Brad Underwood said in the ASX statement the discovery highlighted Norseman’s growing potential.

“This an exceptional result from our Norseman project and with every drill hole undertaken so far intersecting mineralisation, we are hopeful that the initial drill hole will translate into a high-quality resource for mining,” he said. “While we are at an early stage in the discovery process, the thick and consistent zone of mineralisation, and the extensive prospective strike length, suggests the potential for a large mineralised system.”

Galileo has named the prospect Callisto, and has drilled six holes so far.

“In addition to Callisto, we also have multiple platinum group elements-nickel-copper targets at our Jimberlana and Mission Sill prospects to the south that offer new opportunities for further discoveries,” he said. “Galileo remains fully funded with $8.2 million at the end of the March quarter and able to continue aggressive exploration programs at all our projects.”

Assays from a further five drill holes are pending, while more sampling is taking place from the single NRC266 hole.

Well known WA prospector Mark Creasy owns a 24.6% stake and IGO owns 8.9% – which puts it in the box seat to snap up the company if the prospect is proved up.

 

[greggles]

Some great widths and grades from RC drilling recently completed at the Callisto palladium-platinum-copper-nickel discovery. Grades increasing in an easterly direction.

RC drilling is set to resume next week with 20 holes planned.

I think the best is yet to come from Callisto. Hopefully the next round of drilling should return even better results.

 

[Sean K]

This has gone a bit nuts on a little bit of 3E and now Rhodium. Has the market gone nuts?