Galileo Mining Ltd (ASX:GAL) has been granted a trading halt by the ASX as it prepares to make a capital raising announcement.
The halt will remain in place until the start of trading on Wednesday September 8 or when the announcement regarding the capital raising is made to the market, whichever comes first.
Recent activities
Galileo has identified a new nickel sulphide target located within five kilometers of the nickel sulphides drilled in the Fraser Range Nickel Belt.
Ongoing EM surveys in the Galileo Fraser Range project area continue to define high quality nickel-copper sulphide targets for drill testing.
In addition, the company’s palladium results from a soil sampling campaign at the Norseman project in Western Australia have identified a series of new priority drill targets.
A 10,000 meter core drill program is planned at Norseman in September and October to follow up the palladium and nickel anomalies as a first pass test before deeper drilling.
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