Key name there is Creasy

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19/07/18

12:35

Post #: 34447647
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Originally posted by Ben2010 ↑

GAL

NEW PROSPECTS IDENTIFIED AT THE FRASER RANGE PROJECT Highlights • Interpretation of detailed magnetic data sets from Galileo’s Fraser Range project has identified intrusive magnetic signatures prospective for Nova style Nickel-Copper-Cobalt mineralisation • Initial Fraser Range field program to commence in late July with detailed gravity surveying designed to refine drill targets Galileo Mining Ltd (ASX:GAL, “Galileo” or the “Company”) is pleased to announce that, following an interpretation and review of high quality magnetic data, three areas prospective for magmatic nickel-copper-cobalt sulphide mineralisation have been identified at the Company’s Fraser Range Project. The prospects have been named Nightmarch, Lantern and Empire Rose. Prospect locations relative to the Nova mine site, and to other tenement holders within the region, are shown in Figure 1. Galileo Managing Director Brad Underwood said that the successful identification of areas prospective for Nova style nickel-copper-cobalt mineralisation was an important first step on the exploration path at the Company’s Fraser Range Project. “Magnetic interpretation is a valuable tool for highlighting areas that may have potential for economic ore deposits. Galileo will follow up the new target areas with on-ground exploration programs aimed at developing the prospects into good quality drill targets,” Mr Underwood said. “Through our Joint Venture with the Creasy Group, and by virtue of my eightyear tenure working for Mark Creasy in the Fraser Range, Galileo has acquired a deep understanding of the mineralising processes operating in the belt. We are confident in our ability to successfully explore the area and to capitalise on any discoveries that we might make.” Figures 2, 3 and 4 show the new prospects over a background of detailed Total Magnetic Intensity (TMI) imagery. Interpreted intrusive features are marked on the figures as dotted lines. On ground exploration in the Fraser Range will commence in the coming weeks with a detailed ground gravity survey over the Nightmarch prospect. Additional follow up work includes ground electro-magnetic surveying (EM) surveying of the Empire Rose prospect, as well as first pass drilling of all prospects to assess the potential for mineralisation. Nightmarch and Lantern are located on tenement E28/2064 which is the subject of a Joint Venture between NSZ Resources Pty Ltd (a wholly owned subsidiary of Galileo) and Great Southern Nickel Pty Ltd (a Creasy Group entity). Empire Rose occurs on tenement E63/1539 which is in Joint Venture between FSZ Resources Pty Ltd (a wholly owned subsidiary of Galileo) and Dunstan Holdings Pty Ltd (a Creasy Group entity).

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Key name there is Creasy

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