Base Metals: Mark Creasy-linked Galileo makes Fraser Range nickel-copper discovery
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Western Australia’s Fraser Range region has been the subject of some intense scrutiny since the discovery of the Nova nickel-copper-cobalt project by Sirius Resources in 2012.
Since then, Sirius was acquired by Independence Group (AX:IGO) for $1.8bn, Nova was brought into production in 2017 and precious little exploration success despite considerable efforts by several companies.
Renowned prospector Mark Creasy, who was instrumental in the discovery of Nova, made the Silver Knight discovery in 2018, while Legend Mining (ASX:LEG), which also counts Creasy as a major shareholder, made the Mawson nickel-copper discovery late last year.
Now, another Creasy-linked company – Galileo Mining (ASX:GAL) – has made a nickel-copper discovery in the Fraser Range.
The company said that maiden drilling at the Lantern prospect had intersected disseminate nickel-copper sulphide mineralisation with an intercept of 12m grading 0.38 per cent nickel and 0.33 per cent copper from a depth of 124m.
This includes a higher-grade zone of 5m at 0.49 per cent nickel and 0.46 per cent copper.
“We have now discovered a fertile mineralised system containing nickel and copper sulphides,” managing director Brad Underwood said.
“Our next step is to define the extent and quantity of the target metals and, given that we have over 2km of untested strike length at this one target alone, the potential for a large discovery is outstanding.”
Lantern is about 40km southwest of Legend’s Mawson discovery and 100km northeast of the Nova mine.
Separately, Ausmon Resources (ASX:AOA) has been awarded the exploration licence for its Brungle Creek tenement in New South Wales.
Brungle Creek covers about 61sqkm and is believed to be prospective for cobalt, nickel and chromium.
The company plans to finalise its review of all available historical exploration and generate initial base metal targets during the first year of the exploration licence.