Galileo Mining Ltd. · ASX:GAL
Galileo Mining — RIU Explorers Conference 2021
19 slides from Galileo Mining's conference presentation, Feb 16, 2021
Slide 1: Strategic Focus on Nickel, Copper & Cobalt in Western Australia
STRATEGIC FOCUS ON NICKEL, COPPER & COBALT IN WESTERN AUSTRALIA RIU Explorers Conference Investor Presentation February 2021 I ASX:GAL
Slide 2: Disclaimer
Disclaimer This Presentation (“ or the “ has been prepared by Galileo Mining Ltd (ACN 104 114 132 ))(“ not purport to contain all of the information that would be contained in a prospectus or that and is general background information about the Company and its wholly owned recipients may require in
Slide 3: Investment Opportunity
Strong cash position with~$6.9M 1 High value targets in the Fraser Range nickel belt Investment Active exploration at Norseman with an existing nickel/cobalt resource Opportunity All assets are in the Tier-1 mining jurisdiction of Western Australia Pre-discovery market valuation and highly leveraged
Slide 4: Corporate Snapshot
Corporate Snapshot Metrics Key metrics ASX Code GAL Share Price (six months) Shares on Issue 143.1m Share price (at 15th February 2021) 35.0c Market Cap (undiluted) $50.1m Cash (at 31st December 2020) $6.9m Enterprise Value $43.2m Options on Issue 12.5m @ $0.20 (vesting condition: 60 day VWAP > $0.6
Slide 5: Highly Experienced Board
Highly Experienced Board A geologist with over 18 years’ experience in exploration, prospecting and mining. He has been involved in nickel, gold, copper and cobalt discoveries and the development of numerous prospects over a variety of commodities. Brad Underwood 2010 – 2018 he worked for prospe
Slide 6: Project Portfolio
Project Portfolio Strategic Commodity & District Focus • Nickel and cobalt • Numerous operating mines in the district with access to world-class infrastructure (road, rail, Kalgoorlie, Port of Esperance) Fraser Range JV Project * • Developing nickel province with two significant deposits so far at N
Slide 7: Fraser Range Nickel Belt
Fraser Range Nickel Belt Fraser Range: A New Mineral Province • Two nickel-copper-cobalt resources discovered since 2012 (Nova mine & Silver Knight deposit) • IGO: Nova nickel-copper-cobalt mine 14.4 Mt @ 2.3% Nickel, 0.9% Copper and 0.08 % Cobalt (1) • Silver Knight deposit, initial publicly disclo
Slide 8: Thompson (Canada) vs Fraser Range (Australia)
Thompson (Canada) vs Fraser Range (Australia) Thomson Fraser Nickel Range Belt Nickel Belt More than Two deposits 10 deposits with over over 100km 150km of of strike prospective length strike length VS Total known Total known resources resources of of 146Mt 18Mt with less than ten Over 50
Slide 9: Active Exploration Zone
Active Exploration Zone Galileo Mining, Legend Mining, Creasy, IGO • Lantern and Delta Blues - two key prospect areas in the northern Fraser Range • Lantern Prospect is 50km along strike from Legend Mining’s Mawson Prospect • Delta Blues Prospect is along strike from Legend Mining’s Crean and Worsle
Slide 10: Exploration in the Fraser Range
Exploration in the Fraser Range Prospective Proterozoic beneath Eocene sediments • Mafic-ultramafic magmatic intrusions • High-grade granulite facies metamorphism • Interpretation of intrusions mostly from detailed aeromagnetic data • Aircore drilling used as a first pass test for area prospectivity
Slide 11: Drilling Activity
Drilling Activity RC and diamond drilling campaigns • First RC and diamond drilling programs intersect sulphides • 23m @ 0.19% Ni & 0.14% Cu from 133m in disseminated nickel-copper sulphides from ultramafic host rock at Lantern South (LARC013D) 1 • 41m @ 0.19% Ni & 0.14% Cu from 55m (LARC012) 1 • 10
Slide 12: Lantern South Prospect
• Ultramafic intrusion with nickel-copper sulphides Lantern South • Limited drilling with potential for additional mineralisation Prospect • Open to the south and at depth – follow up drilling required • First appearance of high tenor primary massive sulphide over small intersection • Sharp boundary
Slide 13: Lantern East Prospect
Lantern East Prospect EM target on margin of major intrusion • 1.6km along strike from Lantern South • Magnetic interpretation indicated large gabbronorite intrusion; confirmed by aircore drilling • Initial EM target generated by large scale Moving Loop EM and follow up Fixed Loop EM • 108m of disse
Slide 14: The "Joys" of Geophysics
The “Joys” of Geophysics Complexity of EM Modelling on Intrusion Margin • Initial modelling by two independent geophysicists using two data sets • First model rendered redundant by drilling and down-hole EM • Three new EM data sets, for a total of five, have redefined the target at less than 200 met
Slide 15: Delta Blues Prospect
Delta Blues Prospect Multiple EM targets within zone of prospective intrusions • Three strong EM conductors (modelled from 2,500 to 4,100 Siemens)1 identified in regional EM surveying • Follow up EM surveying to define specific drill targets • Aircore drilling showed nickel prospective intrusive roc
Slide 16: Norseman Project
Norseman Project Nickel, Cobalt, and Gold next to Norseman • 78km2 of prospective ground at the southern end of the prolific Norseman- Wiluna greenstone belt • Premier project location: • 10km from Norseman and the historic 5Moz Norseman gold mine • Adjacent to sealed Coolgardie-Esperance Highway •
Slide 17: A Significant Investment Opportunity
$6.9 million in cash = well funded junior exploration company Highly leveraged to discovery success A Significant Fraser Range and Norseman exploration with potential for Investment discovery of high value resources Opportunity Active explorer with management and team focused on making discoveries E
Slide 18: Contact details
P: +61 8 9463 0063 E: info@galileomining.com.au W: http://www.galileomining.com.au/
Slide 19: Appendix – JORC Resources
Mineral Resource Estimates for the Norseman Cobalt Project (“Estimates”) (refer to ASX “Prospectus” announcement dated May 25th 2018 and ASX announcement dated 11th December 2018, accessible at http://www.galileomining.com.au/investors/asx- announcements/). Galileo confirms that all material assumpt