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GALILEO MINING LTD Regulatory Filings 2021

Dec 14, 2021

64962_rns_2021-12-14_d91f4fea-79b7-4f7c-bc11-e0971cdef2ae.pdf

Regulatory Filings

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15 December 2021

ASX: GAL

EXPLORATION UPDATE

Highlights

Corporate Directory

Directors

Chairman & MD Brad Underwood

Non-Executive Director Noel O’Brien

Non-Executive Director Mathew Whyte

Projects

Fraser Range Project Nickel-Copper-Cobalt

Norseman Project Cobalt-Nickel-Palladium

  • Two diamond drill holes have been completed at the Delta Blues prospect in the Fraser Range with matrix, stringer, and disseminated sulphides intercepted

  • Sulphides occur in association with tonalite intrusion (described petrographically as a trondhjemite) with further potential to be assessed through laboratory assays and down hole EM surveys

  • Norseman aircore drilling program complete with 8,700 metres drilled and mineralised nickel-copper-cobalt-palladium sulphides confirmed[1]

  • Assays from aircore drilling of multiple nickel and palladium prospects at Norseman are expected to be received from midJanuary onwards

  • EM surveying targeting the newly discovered sulphide occurrence at Norseman is planned to commence in January with follow up drilling anticipated to occur in the first quarter of 2022

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Contact Details

T: +61 8 9463 0063 E: [email protected] W: www.galileomining.com.au 13 Colin St, West Perth, WA

Galileo Mining Ltd (ASX: GAL, “Galileo” or the “Company”) is pleased to provide an update on exploration activities at the Company’s Fraser Range and Norseman projects in Western Australia.

Figure 1 - Matrix sulphide mineralisation at 399m downhole in DBDD001 (field of view approximately 20cm across)

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(1) Refer to Galileo’s ASX announcements dated 1st December 2021

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Commenting on the exploration activities, Galileo Managing Director Brad Underwood said:

“Our exploration campaigns at the Fraser Range and Norseman projects continue to yield encouraging results. At Delta Blues, a conductive target beneath sulphide mineralisation at DB2 was tested via two diamond drill holes with matrix, stringer, and disseminated sulphides intercepted in both holes. Our focus now is on down hole EM surveys and laboratory assays, planned for the first quarter of 2022, to gain a better understanding of the prospect’s potential.

At Norseman, we have completed 8,700m of aircore drilling with mineralised nickel-copper-cobalt-palladium sulphides confirmed. We look forward to providing investors with an update on assays from this drilling which are expected to be received from mid-January onwards. Our planned activities at Norseman include EM surveying in January which will target the newly discovered sulphide occurrence. The results from this work will be used in the design of follow up drill testing at this outstanding greenfields prospect.”

Figure 2 – Cross section schematic of drill hole DBDD001 with modelled EM target

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DBDD001
EOH 436m
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– Fraser Range Project Delta Blues Prospect

The first diamond drilling campaign at the Delta Blues prospect is now complete with two holes drilled at the DB2 target (collar details in Appendix 2). Drill holes DBDD001 and DBDD002 were designed to test a conductive target beneath sulphide mineralisation previously intercepted in RC drilling. While matrix, stringer, and disseminated sulphides were intercepted in both drill holes it is unsure whether the modelled conductor can be adequately explained by the mineralisation intercepted or is in part related to graphite which accompanies some sections of the sulphide mineralisation. Observed sulphides are predominantly pyrrhotite with minor chalcopyrite. Down hole EM surveying and laboratory assaying will be required to determine whether there are further targets for drilling within the prospect area.

Geological logging recorded typical Fraser Range meta-sediments and mafic granulites as well as units of felsic (tonalite) intrusive rocks. The intrusive units occur proximal and adjacent to the sulphides and may have a causative relationship. Felsic intrusive samples from RC drill hole DBRC001 were examined petrographically under the microscope and were determined to be trondhjemite, a variety of tonalite.

Summary drill logs are provided in Appendix 1. Core samples from diamond drilling will be submitted to the laboratory for assaying with current turn-around-times of approximately eight to ten weeks.

Figure 3 ––Drill Hole Location Plan at Delta Blues DB2 with EM Target over TMI Magnetic Image

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Norseman Project

Regional aircore drilling at Norseman has now been completed with 8,700 metres drilled at multiple new nickel and palladium drill targets. Massive sulphide was intercepted in drill hole NAC105 with the drill bit unable to break through the mineralisation. Assay results showed values of 0.24% nickel. 0.35% copper, 0.04% cobalt and 0.25 g/t palladium over the final metre of the drill hole at just 60m downhole depth (see ASX announcements dated 17[th] November 2021 and 1[st] December 2021). This new zone of sulphide mineralisation will be followed up with EM surveying scheduled to commence in January. The ground EM survey is designed to define further drill targets for RC drill testing in 2022 with the initial and outstanding drill target being the down dip and along strike continuation of the sulphides identified in NAC105.

Aircore drill samples from the majority of the drilling at Norseman are expected to start coming back from the laboratory in mid-January. Sample batches were submitted to the lab each week as drilling progressed and assay returns are expected weekly from mid-January onwards. Any material results from the aircore drilling will be released to the market as the assays are returned.

Figure 4 ––Location of sulphide target zone for EM surveying around massive sulphide (NAC105)

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Figure 5 – Norseman project location map with a selection of regional mines and infrastructure

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Figure 6 – Galileo Prospect Locations in the Fraser Range Nickel Belt

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Competent Person Statement

The information in this report that relates to Exploration Results is based on, and fairly represents, information and supporting documentation prepared by Mr Brad Underwood, a Member of the Australasian Institute of Mining and Metallurgy, and a full time employee of Galileo Mining Ltd. Mr Underwood has sufficient experience that is relevant to the styles of mineralisation and types of deposit under consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). Mr Underwood consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

With regard to the Company’s ASX Announcements referenced in the above Announcement, the Company is not aware of any new information or data that materially affects the information included in the Announcements.

Authorised for release by the Galileo Board of Directors.

Investor information: phone Galileo Mining on + 61 8 9463 0063 or email [email protected]

Media:

David Tasker Managing Director Chapter One Advisors E: [email protected] T: +61 433 112 936

About Galileo Mining:

Galileo Mining Ltd (ASX: GAL) is focussed on the exploration and development of nickel, copper, cobalt and palladium resources in Western Australia. GAL has Joint Ventures with the Creasy Group over tenements in the Fraser Range which are highly prospective for nickel-copper sulphide deposits similar to the operating Nova mine. GAL also holds tenements near Norseman with over 26,000 tonnes of contained cobalt, and 122,000 tonnes of contained nickel, in JORC compliant resources (see Figure 7 below).

Figure 7: JORC Mineral Resource Estimates for the Norseman Cobalt Project (“Estimates”) (refer to ASX “Prospectus” announcement dated May 25[th] 2018 and ASX announcement dated 11[th] December 2018, accessible at http://www.galileomining.com.au/investors/asx-announcements/). Galileo confirms that all material assumptions and technical parameters underpinning the Estimates continue to apply and have not materially changed).

Cut-off
Cobalt %
Class Tonnes Mt Co Ni
% Tonnes % Tonnes
MT THIRSTY SILL
0.06 % Indicated
Inferred
Total
10.5
2.0
12.5
0.12
0.11
0.11
12,100
2,200
14,300
0.58
0.51
0.57
60,800
10,200
71,100
MISSION SILL
0.06 % Inferred 7.7 0.11 8,200 0.45 35,000
GOBLIN
0.06 % Inferred 4.9 0.08 4,100 0.36 16,400
TOTAL JORC COMPLIANT RESOURCES
0.06 % Total 25.1 0.11 26,600 0.49 122,500

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Appendix 1 –– Delta Blues Prospect Diamond Drill Hole Summary Logs

DBDD001 Drill Log Summary (DB2 Target). Thin section petrography required to determine precise rock classifications.

From (m) To (m) Comment
0 24 Transported and saprolite cover
24 137 Quartz-feldspar-garnet-(pyroxene) gneiss
137 182 Gneiss/meta-sediment with tonalite
182 197 Gneiss/meta-sediment; tonalite and disseminated sulphides
197 215 Feldspar-quartz-garnet gneiss
215 305 Gneiss/meta-sediment with tonalite
305 351 Quartz-feldspar-(magnetite) gneiss
351 369 Granulite/meta-sediment with tonalite
369 372 Mafic granulite with disseminated and stringer sulphides; minor graphitic
meta-sediment
372 393.6 Mafic granulite with weakly disseminated sulphides
393.6 394.5 Quartz vein and tonalite
394.5 397.9 Mafic granulite and meta-sediment
397.9 400.2 Mafic granulite/ meta-sediment with matrix to stringer sulphide
400.2 415.3 Gneiss and mafic granulite
415.3 435.6 Mafic granulite/meta-sediment with minor sulphide stringers

DBDD002 Drill Log Summary (DB2 Target). Thin section petrography required to determine precise rock classifications.

From (m) To (m) Comment
0 24 Transported and saprolite cover
24 139 Quartz-feldspar-garnet gneiss with metasediment
139 184 Gneiss, metasediment, and pegmatite
184 206 Gneiss/metasediment with tonalite
206 234 Quartz-feldspar-(magnetite) meta-sediment
234 245 Metasediment with tonalite
245 256 Metasediment with weak disseminated sulphide
256 259 Tonalite with meta-sediment

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From (m) To (m) Comment
259 263 Quartz-feldspar-graphite meta-sediment with disseminated sulphide
263 265 Meta-sediment with tonalite
265 271 Meta-sediment with disseminated sulphide; minor graphitic meta-sed
271 273 Vein quartz, tonalite, minor meta-sediment
273 297.4 Mafic granulite and meta-sediment
297.4 298.7 Mafic granulite/ meta-sediment with matrix to stringer sulphide
298.7 348 Mafic granulite and meta-sediment
348 363 Mafic sediment with weakly disseminated and occasional stringer
sulphide
363 390 Meta-sediment/gneiss
390 397 Meta-sediment and tonalite
397 405.4 Meta-sediment with minor tonalite veins

Appendix 2 –– Diamond Drillhole Collar Details at the Delta Blues Prospect

Hole ID Prospect East North RL Dip Azimuth Depth (m)
DBDD001 Delta Blues (DB2) 583615 6544000 229 -60 255 435.6
DBDD002 Delta Blues (DB2) 583580 6544100 229 -62 260 405.4

Appendix 3:

Logging of Sulphide Mode, Type, and Percentage

Cautionary Statement: Sulphide estimates are completed by visual observation with analytical laboratory results pending for all drill holes.

Galileo Field Logging Guide

Sulphide Mode Percent Range (visually estimated)
Weakly disseminated < 1 %
Disseminated & blebby 1 – 5 %
Heavily disseminated 5 – 20 %
Matrix 20 – 40 %
Net textured 20 – 40 %
Semi-massive >40 to < 80 %
Massive >80 %

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Appendix 4:

Galileo Mining Ltd – Fraser Range Project

JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria JORC Code explanation Commentary
Sampling
techniques
Nature and quality of sampling (eg cut
channels, random chips, or specific specialised
industry standard measurement tools
appropriate to the minerals under investigation,
such as down hole gamma sondes, or handheld
XRF instruments, etc). These examples should
not be taken as limiting the broad meaning of
sampling.
Include reference to measures taken to ensure
sample representivity and the appropriate
calibration of any measurement tools or
systems used.
Aspects of the determination of mineralisation
that are Material to the Public Report.
In cases where ‘industry standard’ work has
been done this would be relatively simple (eg
‘reverse circulation drilling was used to obtain 1
m samples from which 3 kg was pulverised to
produce a 30 g charge for fire assay’). In other
cases more explanation may be required, such
as where there is coarse gold that has inherent
sampling problems. Unusual commodities or
mineralisation types (eg submarine nodules)
may warrant disclosure of detailed information.
•NA – sampling has yet to occur
Drilling
techniques
Drill type (eg core, reverse circulation, open-
hole hammer, rotary air blast, auger, Bangka,
sonic, etc) and details (eg core diameter, triple
or standard tube, depth of diamond tails, face-
sampling bit or other type, whether core is
oriented and if so, by what method, etc).
•Diamond core drilling was undertaken
using HQ core (63.5mm diameter)
completed by Terra Drilling Pty Ltd.
•All holes were surveyed during drilling
using a TruCore downhole electronic
survey camera at 30m downhole
intervals.
•All core is oriented using a TruCore
tool to enable placement of a reference
mark at the end of each core drilling
run. The reference marks are then
used to emplace a reference
(orientation line) downthe core.
Drill sample
recovery
Method of recording and assessing core and
chip sample recoveries and results assessed.
Measures taken to maximise sample recovery
and ensure representative nature of the
samples.
Whether a relationship exists between sample
recovery and grade and whether sample bias
may have occurred due to preferential loss/gain
of fine/coarse material.
•HQ diamond core drilling recoveries
were estimated for each interval by
logging the length of the sample
recovered against the reference
(orientation) line. Recoveries were all
greater than 90% and typically 100%.
•No relationship has been determined
between sample recoveries and grade.
Overall recoveries are excellent and no

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Criteria JORC Code explanation Commentary
significant issues with core loss or
sample bias arerecognised.
Logging Whether core and chip samples have been
geologically and geotechnically logged to a
level of detail to support appropriate Mineral
Resource estimation, mining studies and
metallurgical studies.
Whether logging is qualitative or quantitative in
nature. Core (or costean, channel, etc)
photography.
The total length and percentage of the relevant
_intersections logged. _
•Geological logging of drill holes has
been completed.
•Logging of the drill core is qualitative
and based on the in-situ presentation
of the core sample with down-hole
depths measured against the
reference (orientation) line.
•All drill holes were logged in their
entirety
Sub-sampling
techniques
and sample
preparation
If core, whether cut or sawn and whether
quarter, half or all core taken.
If non-core, whether riffled, tube sampled,
rotary split, etc and whether sampled wet or
dry.
For all sample types, the nature, quality and
appropriateness of the sample preparation
technique.
Quality control procedures adopted for all sub-
sampling stages to maximise representivity of
samples.
Measures taken to ensure that the sampling is
representative of the in situ material collected,
including for instance results for field
duplicate/second-half sampling.
Whether sample sizes are appropriate to the
_grainsize of the material being sampled. _
•NA – sampling has yet to occur
Quality of
assay data
and
laboratory
tests
The nature, quality and appropriateness of the
assaying and laboratory procedures used and
whether the technique is considered partial or
total.
For geophysical tools, spectrometers, handheld
XRF instruments, etc, the parameters used in
determining the analysis including instrument
make and model, reading times, calibrations
factors applied and their derivation, etc.
Nature of quality control procedures adopted
(eg standards, blanks, duplicates, external
laboratory checks) and whether acceptable
levels of accuracy (ie lack of bias) and precision
_have been established. _
•NA –assay results pending
Verification of
sampling and
assaying
The verification of significant intersections by
either independent or alternative company
personnel.
The use of twinned holes.
Documentation of primary data, data entry
procedures, data verification, data storage
(physical and electronic) protocols.
• _Discuss any adjustment to assay data. _
•Field data is collected on site using a
standard set of logging templates
entered directly into a laptop. Data is
then sent to the Galileo database
manager for validation and upload into
the database.
Location of
data points
Accuracy and quality of surveys used to locate
drill holes (collar and down-hole surveys),
trenches, mine workings and other locations
•Drill hole collars are surveyed with a
handheld GPS with an accuracy of +/-
5m which is considered sufficientfor

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Criteria JORC Code explanation Commentary
used in Mineral Resource estimation.
Specification of the grid system used.
Quality and adequacy of topographic control.
drill hole location accuracy.
•Co-ordinates are in GDA94 datum,
Zone 51.
•Downhole depths are in metres from
surface.
•Topographic control has an accuracy
of 2m based on detailed satellite
imagery derived DTM or on laser
altimeter data collected from
aeromagnetic surveys
Data spacing
and
distribution
Data spacing for reporting of Exploration
Results.
Whether the data spacing and distribution is
sufficient to establish the degree of geological
and grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation
procedure(s) and classifications applied.
Whether sample compositing has been applied.
•Drill hole spacing for the individual drill
holes was not grid based. The holes
were placed to target potential
mineralisation as indicated by
geophysical methods (EM) and
geological interpretation.
•Drill spacing is insufficient for the
purposes of Mineral Resource
estimation.
Orientation of
data in
relation to
geological
structure
Whether the orientation of sampling achieves
unbiased sampling of possible structures and
the extent to which this is known, considering
the deposit type.
If the relationship between the drilling
orientation and the orientation of key
mineralised structures is considered to have
introduced a sampling bias, this should be
assessed and reported if material.
•It is unknown whether the orientation
of sampling achieves unbiased
sampling as interpretation of
quantitative measurements of
mineralised zones/structures has not
yet been completed.
•The drilling is oriented either
perpendicular to the regional
lithological strike and dip or
perpendicular to the modelled EM
conductor.
Sample
security
The measures taken to ensure sample security. •NA – sampling has yet to occur
Audits or
reviews
The results of any audits or reviews of sampling
techniques and data.
•Continuous improvement internal
reviews of sampling techniques and
procedures are ongoing. No external
auditshave beenperformed.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria JORC Code explanation Commentary
Mineral
tenement and
land tenure
status
Type, reference name/number,
location and ownership including
agreements or material issues with
third parties such as joint ventures,
partnerships, overriding royalties,
native title interests, historical
sites, wilderness or national park
and environmental settings.
The security of the tenure held at
the time of reporting along with any
known impediments to obtaining a
•The Fraser Range Project comprises seven granted
exploration licenses, covering 672km2
•Kitchener JV tenement E28/2064 (67% NSZ
Resources Pty Ltd, 33% Great Southern Nickel Pty
Ltd).
•Kitchener tenements E28/2912, E28/2949,
E28/2797 (100% NSZ Resources Pty Ltd)
•Yardilla JV tenements: E63/1539, E63/1623,
E63/1624 (67% FSZ Resources Pty Ltd, 33%
Dunstan Holdings Pty Ltd)
•NSZ ResourcesPtyLtd &FSZ ResourcesPtyLtd

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Criteria JORC Code explanation Commentary
licence to operate in the area. are wholly owned subsidiaries of Galileo Mining Ltd.
•Great Southern Nickel Pty Ltd and Dunstan
Holdings Pty Ltd are entities of Mark Creasy
•The Kitchener Area is approximately 250km east of
Kalgoorlie on vacant crown land and on the
Boonderoo Pastoral Station.
•The Yardilla Area is approximately 90km east of
Norseman on vacant crown land and on the Fraser
Range Pastoral Station.
•Both the Kitchener Area and the Yardilla Area are
100% covered by the Ngadju Native Title
Determined Claim.
•The tenements are in good standing and there are
no known impediments.
Exploration
done by other
parties
Acknowledgment and appraisal of
exploration by other parties.
•NA - no previous nickel exploration on the
tenements
Geology Deposit type, geological setting
and style of mineralisation.
•The target geology is indicative of magmatic nickel-
copper sulphide mineralisation hosted in or
associated with mafic-ultramafic intrusions within
the Fraser Complex of the Albany-Fraser Orogeny.
•The underlying unweathered lithology is granulite
facies metamorphosed and partially retrogressed
sedimentary, mafic and ultramafic igneous rocks as
determined by petrographic work.
Drill hole
Information
A summary of all information
material to the understanding of
the exploration results including a
tabulation of the following
information for all Material drill
holes:
o easting and northing of the drill
hole collar
o elevation or RL (Reduced Level
– elevation above sea level in
metres) of the drill hole collar
o dip and azimuth of the hole
o down hole length and
interception depth
o hole length.
If the exclusion of this information
is justified on the basis that the
information is not Material and this
exclusion does not detract from the
understanding of the report, the
Competent Person should clearly
_explain why this is the case. _
•Refer to drill hole collar table in Appendix 2
Data
aggregation
methods
In reporting Exploration Results,
weighting averaging techniques,
maximum and/or minimum grade
truncations (eg cutting of high
grades) and cut-off grades are
usually Material and should be
•NA – no assays reported

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Criteria JORC Code explanation Commentary
stated.
Where aggregate intercepts
incorporate short lengths of high
grade results and longer lengths of
low grade results, the procedure
used for such aggregation should
be stated and some typical
examples of such aggregations
should be shown in detail.
The assumptions used for any
reporting of metal equivalent
values should be clearly stated.
Relationship
between
mineralisation
widths and
intercept
lengths
These relationships are particularly
important in the reporting of
Exploration Results.
If the geometry of the
mineralisation with respect to the
drill hole angle is known, its nature
should be reported.
If it is not known and only the down
hole lengths are reported, there
should be a clear statement to this
effect (eg ‘down hole length, true
width not known’).
•NA – assays not reported
•The drilling is oriented perpendicular to the regional
lithological strike and dip or perpendicular to the
modelled EM conductors
Diagrams Appropriate maps and sections
(with scales) and tabulations of
intercepts should be included for
any discovery being reported
These should include, but not be
limited to a plan view of drill hole
collar locations and appropriate
_sectional views. _
•Project location map and plan map of the drill hole
locations with respect to each other and with
respect to other available data.
•Drill hole locations have been determined with
hand-held GPS drill hole collar location (Garmin
GPS 78s) +/- 5m in X/Y/Z dimensions
Balanced
reporting
Where comprehensive reporting of
all Exploration Results is not
practicable, representative
reporting of both low and high
grades and/or widths should be
practiced to avoid misleading
_reporting of Exploration Results. _
•All available relevant information is presented.
Other
substantive
exploration
data
Other exploration data, if
meaningful and material, should be
reported including (but not limited
to): geological observations;
geophysical survey results;
geochemical survey results; bulk
samples – size and method of
treatment; metallurgical test
results; bulk density, groundwater,
geotechnical and rock
characteristics; potential
deleterious or contaminating
substances.
•Detailed 50m line spaced aeromagnetic data has
been used for interpretation of underlying geology.
Data was collected using a Geometrics G-823
Caesium vapor magnetometer at an average flying
height of 30m.
•Modelling and interpretation of MLEM geophysical
data was undertaken by Spinifex Gpx Pty Ltd and
Geopotential Pty Ltd.
•All MLEM geophysical interpretations were
completed independently to provide models to
assist drill targeting.
•Detailed gravity data has been used for
interpretation of underlying geology. Data was
collected using Scintrex CG-5 Autograv gravity
meters positioned using aLeica GX1230receiver

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Criteria JORC Code explanation Commentary
and GNSS base station.
•Petrography was undertaken by R.N. England
Consulting Geologist
Further work The nature and scale of planned
further work (eg tests for lateral
extensions or depth extensions or
large-scale step-out drilling).
Diagrams clearly highlighting the
areas of possible extensions,
including the main geological
interpretations and future drilling
areas, provided this information is
not commercially sensitive.
•Sampling and assaying of samples from diamond
drill holes DBDD01 and DBDD002
•Petrographical examination of selected intervals
•Down hole EM surveying at the Delta Blues DB2
prospect

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