GAL Discovery Hole NRC266 versus CNJ/GSR Discovery Hole MTJV001

The following table contains my own "preliminary" calculations for the nickel percentages in the CNJ/GSR "discovery" hole MTJV001 (it is probably actually called MTDD001 as it says on the drill tray), versus the assay results from GAL's "discovery" hole NRC266 that were released ca. 3 months ago:




Notes to the above:

1. The data for GAL's discovery hole NRC266 can be found on page 3 of GAL's announcement titled "MAJOR PALLADIUM-PLATINUM
DISCOVERY AT NORSEMAN" from 11.05.2022:

https://www.galileomining.com.au/wp-content/uploads/2022/05/May-11-2022.pdf

2. My calculations are based on the information found in the table titled "APPENDIX 2: FIELD GUIDE FOR THE LOGGING OF SULPHIDE MODE, TYPE, AND PERCENTAGE" (on page 9), which can be found in CNJ announcememt titled "22 METRES OF HEAVILY DISSEMINATED SULPHIDES INTERCEPTED 400 METRES SOUTH OF CALLISTO" from August 18th:

https://app.sharelinktechnologies.com/announcement/asx/876d3c9de64b1cd5d06db808e54c99d7

3. I have used nickel in my table as it was the easiest to calculate. Nickel is also worth 3 times as much as copper. In addition, the nickel grade should give us a very good indication of high the PGE grades should be (generally, the higher the nickel grade is, the higher the PGE grades should be).

4. With regard to the potentially very good PGE grades in MTJV001, this should mean that the Rhodium grades should also be very good.

5. As far as I know, up until now, GAL have not reported any "heavily disseminated sulphides" in any of the holes that they have drilled at Callisto to date, whereas Conico has announced they have "heavily disseminated sulphides" in their very first hole.

6. The drill cores from MTJV001 will be assayed for palladium, platinum, gold, copper, nickel & rhodium i.e. the entire suite. They should be announced within the next 4-6 weeks.

7. From what I can deduce, GAL's best hole to date was NRC266. Directly south of it, their next best hole was NRC299. Further directly to the south of NRC299 (about 400 metres way), CNJ/GSR drilled their "discovery" hole MTJV001. Therefore, by my calculations, the further directly south CNJ/GSR drill, the better the grades should be. In this regard, I expect CNJ/GSR to drill holes directly further to the south near the historical drill hole MTDD008 and then further south again near the historical drill hole MTDD0025.


The above information, as well as my calculations, are my opinion only, and thus they should not be considered to be investment advice.

Wishing you all a good weekend and good fortune when CNJ/GSR announce the official assay results for MTJV001 in about 4-6 weeks time.

Cheers.