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Norseman Cobalt Project Update

A mining lease application has been submitted to the Department of Mines, Industry Regulation and Safety for Mt Thirsty resource in the Goldfields region of Western Australia. This is a significant step towards the development of the larger Norseman Cobalt Project (Figure 1).

The Norseman Cobalt Project Scoping Study, based on the JORC compliant resources at Mt Thirsty and at the Mission Sill, is progressing well with concentration test work underway. Metallurgical samples will be utilised for leaching test work prior to the completion of scoping level capital and operating costs for the project. The Norseman Cobalt Project Scoping Study is expected to be finalised in or around November 2018.

Resource extension drilling at Mt Thirsty has highlighted a new zone of mineralisation to the north of the existing JORC compliant resource (Figure 2). Infill drilling will be required prior to any recalculation of the current resource model. Exploration drilling at the Hobgoblin prospect has also identified a new zone of mineralisation at greater than 0.06% cobalt over 1km of strike length (Figure 3).

Galileo Managing Director, Brad Underwood, said the mining lease application, the progress of the scoping study and the latest exploration results all demonstrated the Company’s desire to progress the development of the Norseman Cobalt Project in a short time frame.

“Since listing on the 29th of May 2018 we have completed over 10,000 metres of exploration and metallurgical drilling at our Norseman project. These programs have allowed us to move quickly into the scoping phase of development and, under the current time line, we expect to have the scoping study finished in November 2018”.

“With our second exploration drilling program recently completed at the Norseman Cobalt Project we also aim to deliver additional positive exploration results over the coming month.” Mr Underwood said.

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