PROJECTS

The Ponton Project is located approximately 535km east of Perth and 190km east of Kalgoorlie in the Eastern Goldfields of Western Australia. The major East-West Trans Australia railway is situated 50km to the south. It covers a total area of about 206km2 and lies within the Queen Victoria Spring Nature Reserve. The Cundeelee Aboriginal Settlement is located 25km to the southeast.

The project area is located at the southeastern margin of the Yilgarn Archaean Craton. The main basement lithologies are believed to comprise granitic gneisses, migmatites and intrusives over printed by the northeast trending tectonic fabrics of the Albany-Fraser Orogen. "The area lies at the intersection of the fault and shear system of the Fraser Complex to the southeast and the southern extensions of the Laverton Tectonic Zone" (Fitton, A., 1995). The intersection of these two major tectonic zones may have been a factor in the development of the Cundeelee alkaline pyroxenite and carbonate complex that clearly exhibits carbonatite characteristics. Locations of the primary extrusive vent (or vents) remain unknown.

The Company is targeting carbonatite-hosted mineralization of the Palabora type within the Ponton Tenement. Palabora in South Africa is one of the world’s largest open cast mines being a kidney-shaped intrusive 6.5 km x 2.5 km with average grades of 0.5% copper, plus nickel, lead, zinc, uranium, vermiculite, phosphate, rare earths and titaniferous magnetite with reserves of 1.2 billion tonnes. The Palabora style targets at Galaxy’s Ponton Prospect are thought to be fairly deep and drilling to 500 metres will be required to test some of these targets that are prospective for base metal sulphides including nickel, besides the rare earths and phosphate. The location is on reserved lands with some environmental conditions.