WA’s prolific Fraser Range region continues to garner significant interest with a new mining lease application submitted around 50km along strike from Mark Creasy-backed cobalt and nickel play Galileo Mining’s joint venture tenement with Great Southern Nickel.
The new application – by Great Southern Nickel, a Creasy Group entity – covers 6,135 Hectares of the western section of underlying exploration license E28/2065.
Galileo subsidiary company NSZ has a Joint Venture with Great Southern Nickel over separate tenement E28/2064 in the Fraser Range. The JV tenement is approximately 50km along strike from the new application.
Galileo Managing Director Brad Underwood said while details of the mineralisation subject to the MLA are not yet publicly available, and that it does not relate to one of the Company’s JV tenements, it is expected that the application itself will be of significant interest to Galileo shareholders given the Company’s interests in the Fraser Range region.
“Creasy Group companies have been active for many years in the Fraser Range with publicly available DMIRS data showing substantial exploration expenditure over a long period,” he said.
To be at a stage where a Mining Lease Application can be submitted under the Western Australian Mining Act implies that economic mineralisation has been reported.
“While we remain focussed on our Norseman Cobalt Project, Galileo is very pleased to have Fraser Range exploration tenements in Joint Venture with the Creasy Group. Our shareholders can look forward to Galileo progressing exploration at our Fraser Range prospects over the coming months.”
Galileo’s Fraser Range Project comprises four granted exploration licenses covering 492km2.
Shares in Galileo were trading at 32.5c on Monday.