GAL 3.03% 16.0¢ galileo mining ltd

In the Albany Fraser range , GAL is looking for nickel in...

  1. 3,790 Posts.
    lightbulb Created with Sketch. 218
    In the Albany Fraser range , GAL is looking for nickel in massive sulphide deposits under a sandstone cover (which is why they needed to drill below 100 mts and other geophysical techniques throw false signals at times). Sulphides usually contain pyrite ( iron sulphide FeS2) , chalcopyrite ( (copper sulphide CuFeS2) and pentlandite (iron nickel Fe,Ni S8). Usually in such deposits iron sulphide make up 60-70% and all three light up in a similar fashion when doing EM surveys. That is the reason why GAL has been doing so many EM surveys to identify such deposit as a starting point . Once honed in then it’s a matter of drilling to find the right spot where pentlandite content ( nickel ) is higher than pyrite . So it takes time and makes the process really hard/ expensive / time consuming and a reason why we don’t have many discovering besides Sirius/IGO and couple of others. Also another reason why when companies hit something in the region they get re-rated quickly eg : LEG . Matter of time with GAL. Personally the chances of success with DB program are low in the first go with only 1000 mts of DD. Let’s see- need to be patient with such explorers and take a long term view. Matter of time .
    Last edited by Inferno31: 01/07/21
 
watchlist Created with Sketch. Add GAL (ASX) to my watchlist
(20min delay)
Last
16.0¢
Change
-0.005(3.03%)
Mkt cap ! $31.61M
Open High Low Value Volume
16.5¢ 16.5¢ 16.0¢ $10.13K 61.49K

Buyers (Bids)

No. Vol. Price($)
3 315058 16.0¢
 

Sellers (Offers)

Price($) Vol. No.
17.0¢ 25000 1
View Market Depth
Last trade - 12.46pm 20/09/2024 (20 minute delay) ?
GAL (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.