Galileo Mining Ltd (ASX: GAL) has uncovered extremely rare and valuable Rhodium in previously announced drill hole NRC266 from the Callisto discovery at the company’s 100% owned Norseman project in Western Australia.
Rhodium is a silver-white metallic element that is highly reflective and resistant to corrosion. It is considered the rarest and most valuable precious metal in the world — well above gold or silver.
It is gaining increasing interest for its potential use in Electric Vehicles (EVs)
The rhodium assays confirm the presence of this valuable metal within the Callisto mineralised system,” Managing Director, Brad Underwood, said.
“With step out drilling expected to commence next week we will now be including rhodium in the assay suite for any further sulphide rich intersections. Based on the six drill holes completed so far at Callisto we anticipate more sulphide intersections in the next drill program and are hopeful that an increase in sulphide content will be matched by an increase in metal content.
“We are excited to be starting drilling again so soon after the recent discovery announcement and look forward to updating the market with results as they become available.”
Initial interpretation of results from the Callisto discovery continue to show similarities with South Africa’s Platreeg deposits with disseminated sulphide mineralisation hosted in the lower unit of a layered ultramafic sill.
Drill assays from NRC266 now confirm the presence of rhodium in addition to palladium-platinum-gold-copper-nickel. These metals also occur in the Platreef deposits in a similar disseminated mineralisation style and in a similar host rock. Petrographical examination of drill chips from NRC266 is ongoing with the intention of describing the host rock in more detail.
Deeper diamond core drilling is planned for later in the year which will allow a broader interpretation of the mineralisation setting, and a better understanding of the regional potential for more discoveries.
RC drilling is planned to resume on Thursday June 2, subject to weather conditions and the drill rig mobilising to site.
20 drill holes are planned for approximately 4,000 metres of drilling with the priority target zones located across strike to the east of the current drilling/
Drill holes in the imminent campaign will be spaced roughly 50m apart in order to define grade variation across strike prior to step out drilling along strike.