Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Galileo Mining Ltd. ( (AU:GAL) ) has issued an update.
Galileo Mining has commenced a deep diamond core drilling program at its 17.5 million tonne Callisto PGE-nickel-copper resource within the Norseman project, aiming to test for deeper, stacked lodes beneath the thickest section of existing mineralisation. The drilling, planned to reach at least 600 metres depth over a three-week campaign, is partially funded by up to $180,000 from Western Australia’s Exploration Incentive Scheme, underscoring state support for further resource growth.
Management says the program will both explore for potential new discoveries at depth and generate core for additional metallurgical test work on the current Callisto resource, which could inform future development options. In parallel, one-metre split samples from recent reverse circulation drilling at the nearby Mission Sill prospect are being assayed, with results expected within four to six weeks to guide follow-up drilling along more than 10 kilometres of prospective strike, complementing over 20 kilometres of strike around Callisto.
The most recent analyst rating on (AU:GAL) stock is a Hold with a A$0.25 price target. To see the full list of analyst forecasts on Galileo Mining Ltd. stock, see the AU:GAL Stock Forecast page.
More about Galileo Mining Ltd.
Galileo Mining Ltd is an Australian exploration company focused on its 100%-owned Norseman project in Western Australia. The company is targeting palladium, platinum group elements, nickel and copper, with a key asset being the near-surface 17.5 million tonne Callisto PGE-nickel-copper resource and additional prospects such as the Mission Sill trend.
Average Trading Volume: 556,594
Technical Sentiment Signal: Buy
Current Market Cap: A$50.39M
Learn more about GAL stock on TipRanks’ Stock Analysis page.