TIDMGLR
RNS Number : 9805I
Galileo Resources PLC
08 December 2022
For immediate release
8 December 2022
Galileo Resources Plc
("Galileo" or "the Company")
Kamativi Lithium Project - Reconnaissance and Follow-up Sampling
Programmes
Galileo Resources plc ("Galileo "or the "Company") is pleased to
provide an update on a reconnaissance mapping and sampling
programme completed over the Kamativi Lithium Project ("Project")
in southwest Zimbabwe. The Project area comprises exploration
licence EPO 1782 covering an area of 520 sq km in western Zimbabwe.
Galileo has a current interest of 29% in the Project, held through
its interest in BC Ventures, along with an option to earn an
additional 51% interest through spending a combined total of
$1.5million on exploration and evaluation in the Project area and
over the Bulawayo gold-nickel property by 21 January 2024.
Highlights
-- Detailed reconnaissance mapping and sampling over the
Kamativi lithium project has identified four target zones with
potential for pegmatite-hosted lithium, tin and tantalum
-- The target zones lie along strike extensions or on parallel
structures to the Kamativi Tin Mine which contains a JORC (2012)
compliant Indicated Mineral Resource of lithium in tailings of
26.3Mt @ 0.58% Li2O (Lithium Oxide)
-- Former workings for tin, tantalum and tourmaline are noted
within the Project area on the historic geological maps but lithium
was not targeted at that time
-- Possible visual identification of spodumene and petalite
mineralisation by the Galileo field team in rock chip samples from
one site will require laboratory confirmation
-- 1,661 samples, comprising rock chips, stream sediments and
soil samples have been dispatched to an assay laboratory for a
range of elements, including lithium, tin and tantalum
-- Confirmed targets will be identified for follow up work which may include drilling
Colin Bird Chairman & CEO said: "We have meticulously
sampled the pegmatites over four target zones across our Kamativi
lithium project licence area with the mission of identifying
lithium occurrences, as well as testing the significant potential
for tin and tantalum. We await the results of laboratory analysis
and, if appropriate, we will aim to progress confirmed prospects to
drill testing stage. We also have a substantial number of
additional samples in storage for analyses, depending on the
results of the current batch.
The prospects for lithium remain strong and Zimbabwe is an
emerging source of this new age metal. "
Kamativi Reconnaissance Mapping and Sampling Programme
The Company announced the intended reconnaissance
mapping/sampling programme at Kamativi on 26 April 2022 and this
has been completed over four target zones on the Kamativi licence
area to check for pegmatite hosted lithium mineralisation, as well
as associated elements such as tin and tantalum. The targets were
chosen based on location along structures on strike from and/or
parallel to the Kamativi tin mine zone which contains an associated
lithium resource in tailings, as well as mapped pegmatite dyke
occurrences and historic workings on the Galileo property.
A total of 5,326 samples were collected in the form of rock
chip, stream sediment and soil samples, the sample type being
dictated by the extent of bedrock exposure, and the terrain. Of
these samples, 1,661 were initially selected for laboratory
analysis based on pXRF analysis, comprising 79 rocks, 87 streams
and 1,495 soils. Soil sampling was carried out on a 400m x 40m grid
spacing. Analysis is planned for a suite of elements including
lithium, tin, tantalum, tungsten and a range of potential lithium
indicator elements.
Positive results arising from this programme will be followed up
by detailed mapping, sampling and possible geophysics, with the aim
of identifying priority targets for drill testing.
The Company will provide a map of these areas once all assay
results are received.
Technical Sign-Off : Technical information in this announcement
has been reviewed by Edward (Ed) Slowey, BSc, PGeo, Technical
Director of Galileo. Mr Slowey is a geologist with more than 40
years' relevant experience in mineral exploration and mining, a
founder member of the Institute of Geologists of Ireland and is a
Qualified Person under the AIM rules. Mr Slowey has reviewed and
approved this announcement.
You can also follow Galileo on Twitter: @GalileoResource
For further information, please contact: Galileo Resources
PLC
Colin Bird, Chairman Tel +44 (0) 20 7581
4477
Beaumont Cornish Limited - Nomad Tel +44 (0) 20 7628
Roland Cornish/James Biddle 3396
----------------------
Novum Securities Limited - Joint
Broker
Colin Rowbury /Jon Belliss +44 (0) 20 7399 9400
----------------------
Shard Capital Partners LLP - Tel +44 (0) 20 7186
Joint Broker 9952
Damon Heath
----------------------
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK Domestic Law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR").
Technical Glossary
"amblygonite" A fluorophosphate mineral, composed of lithium,
sodium, aluminium, phosphate, fluoride and
hydroxide
"fluorite" A mineral of composition CaF2 common in some
base metal deposits
"gneiss" Metamorphic rock, often of granitic origin
"granite" A medium to coarse grained granular acid intrusive
rock
"lepidolite" A lilac-grey or rose-coloured member of the
mica group of minerals; sometime ore of lithium
"mica" A platy, flexible mineral which is a common
constituent of igneous and metamorphic rocks
"pegmatite" Very coarse-grained igneous rock which commonly
occurs as dykes in granite intrusions
"petalite" A lithium aluminium phyllosilicate mineral
and an ore of lithium
"schist" A metamorphic rock with a platy or foliated
texture
"spodumene" A lithium aluminium silicate mineral and an
important ore of lithium
"tailings" Reject products from a mineral treatment plant
"tantalum" A metallic mineral used in a variety of alloys
to add high strength, ductility and a high
melting point
"tourmaline" Silicate mineral containing sodium, aluminium
and boron
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DRLFSMFAWEESELE
(END) Dow Jones Newswires
December 08, 2022 02:00 ET (07:00 GMT)
Galileo Resources (AQSE:GLR.GB)
過去 株価チャート
から 11 2024 まで 12 2024
Galileo Resources (AQSE:GLR.GB)
過去 株価チャート
から 12 2023 まで 12 2024
