Galileo Mining Ltd confirms constant rhodium at Callisto within Norseman in Western Australia
Galileo Mining Ltd (ASX:GAL) has highlighted the “considerable” potential of the Callisto discovery at the Norseman project in Western Australia with extensive continuity of rhodium mineralization discovered in the second reverse circulation drilling program ( RC) on the concession.
Rhodium mineralization was discovered in the first four drill holes of this second program, with assays returning:
- 23 meters at 2.19 g/t 4E (1.74 g/t palladium, 0.30 g/t platinum, 0.09 g/t gold, 0.06 g/t rhodium), 0.35% copper and 0.35% nickel from 144 meters;
- 29 meters at 2.28 g/t 4E (1.80 g/t palladium, 0.33 g/t platinum, 0.09 g/t gold, 0.05 g/t rhodium), 0.32% copper and 0.31% nickel from 143 meters;
- 20 meters at 1.83 g/t 4E (1.47 g/t palladium, 0.25 g/t platinum, 0.07 g/t gold, 0.04 g/t rhodium), 0.27% copper and 0.30% nickel at 150 meters;
- 12 meters at 1.86 g/t 4E (1.48 g/t palladium, 0.25 g/t platinum, 0.08 g/t gold, 0.05 g/t rhodium), 0.31% copper and 0.30% nickel from 147 meters; and,
- 22 meters at 1.72 g/t 4E (1.33 g/t palladium, 0.23 g/t platinum, 0.11 g/t gold, 0.05 g/t rhodium), 0.27% copper and 0.27% nickel from 177 yards.
Callisto rhodium adds “considerable potential”
“The latest rhodium assays from our Callisto discovery confirm the presence of rhodium at consistent levels in all drill holes analyzed to date,” said Brad Underwood, managing director of Galileo Mining.
“The broad continuity of mineralization intercepted is remarkable and reinforces our belief that there is more to discover.
“Rhodium is a very rare metal that is used primarily in automotive catalysts for pollution control as well as for jewelry and other uses.
“It is almost always produced as a by-product of platinum, palladium, copper or nickel mining. The presence of rhodium at Callisto has considerable potential to add value to the overall project.
“We are also encouraged by the metal suite contained at Callisto, which is very similar to that found in the Platreef deposits in South Africa. And with the same style of disseminated sulphide seen at Platreef, we are building a geological model that supports the opportunity for new discoveries in the area.
“We currently have a large scale RC drilling program underway, and a diamond drill should be on site in mid-August.
“Our recent capital raise has given us the funds to further expand drilling as needed and with over five kilometers of potential prospecting, there is much more drilling to come.”
With this new knowledge in hand, Galileo will now test all high-grade palladium areas for rhodium in the future.
The price of rhodium is currently around AU$20,878 (US$14,500) an ounce, and demand is expected to rise due to the mineral’s use in pollution control systems.