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Galileo Resources Plc
Summary
| Project: | Star | |
|---|---|---|
| Deposit: | Star | |
| Location: | Zambia | |
| Commodities: | Zinc-Silver-Germanium | |
| Date: | 10/15/2018 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 15-10-2018: Galileo Resources Plc announces an Exploration/Drilling Update report for its Star deposit at the Star project. JV - Drilling results incl. 23m @ 15.46% Zn, 14.39ppm Ge, 4.39ppm Ag from 14m. Galileo, further to its announcement of 14 August 20 | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Andrew Sarosi (Internal) | |
| ABSTRACT: | Galileo, further to its announcement of 14 August 2018, is pleased to announce completion of its phase-2, 1000metre (m) diamond-drilling programme and reports on the preliminary (a) independent assay results ("Preliminary Results") from for an initial 8 diamond drill holes (Initial DDHs) on its highly prospective 80.75%-owned Star Zinc Project ("Star Zinc") in Zambia. Colin Bird, Chief Executive Officer, said: "This has been an extremely satisfactory drilling program, which has effectively delineated the mineralisation limits of the current targeted resource area. Good results have been obtained in both the eastern and western "ore" bodies, with the latter suggesting significantly higher grades than in the east. We believe we have extended the zone of mineralisation from that reported previously and expect, on incorporating these latest boreholes in the current model, to show an increase in contained metal. The previously announced programme objectives (April and May 2018) have been achieved. We did not pursue, to any extent, identifying a possible feeder source because the programme, as it developed, was directed, amongst other things to focus on defining the parameters necessary for an open pit design. Our understanding of Star Zinc's geology and controls has increased. We intend now to proceed to scoping study stage to include resource modelling of the data and an initial pit design. The Company believes it has adequately delineated a resource to design an open pit and generate a maiden JORC compliant resource estimate. The Company has engaged an independent consultant to undertake this exercise. When the Company entered into the Term Sheet agreement to acquire Star Zinc (31 August 2017), it undertook that on proven success it would provide ore feed for the Kabwe zinc project. An offtake agreement to this effect is under discussion and negotiation." | |
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