Stocks of the Hour: HLX, ACW, GAL

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Helix Resources (ASX:HLX) provided an update this morning on the ongoing copper exploration drilling at its Canbelego Joint Venture Project located in the Cobar region of NSW. The Company has received assays for two further diamond drill holes and one RC hole within the Canbelego Main Lode project area. Commenting on the latest drill results, Helix Managing Director Mike Rosenstreich said “We are excited to deliver high-grade copper results from our advanced Canbelego Main Lode project featuring two to nearly five percent copper assays. Results also included the highest-grade intercept to date in the upper 150 metres of the Main Lode, confirming the potential for high-grade copper mineralisation at shallower depths. These results are significant because they are extending known high-grade shoots, and with new higher grades from infill drilling, both aspects potentially adding copper tonnes.” Shares are trading 14.3 per cent higher at 1 cent.

Actinogen Medical (ASX:ACW) announced positive Phase 2a clinical data from its Alzheimer’s Disease (AD) biomarker study, which validates the Company’s Xanamem program. In response to the news, Professor Paul Rolan, Actinogen’s Chief Medical Officer, said: “These clinical results provide further validation of our Alzheimer’s Disease program and are a significant step forward in the development of Xanamem as a new treatment for Alzheimer’s Disease with a novel, amyloid- independent mechanism of action.” Shares are trading 30.2 per cent higher at 13 cents.

Galileo Mining Ltd (ASX:GAL) today provided an exploration update from ongoing RC drilling north of the Callisto palladium platinum-gold-rhodium-nickel-copper discovery within the Company’s 100% owned Norseman project in Western Australia. Galileo’s MD Brad Underwood commented; “RC drilling north of Callisto has identified a new zone of disseminated nickel sulphide in the first exploration drill program in the area since the discovery at Callisto defined the prospective geological unit on Galileo’s ground. Our target generation model suggested that the five kilometres north of Callisto are the most prospective and these early drill results strongly support this concept. Shares are trading 11.7 per cent higher at $1.34.

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