Galileo Resources PLC Wide Pegmatite Intercepts at Kamativi Project (8560G)

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RNS Number : 8560G

Galileo Resources PLC

24 July 2023

24 July 2023

Galileo Resources Plc

("Galileo" or "the Company")

Wide Pegmatite Intercepts in Initial Kamativi Lithium Drilling Programme

Galileo Resources plc ("Galileo "or the "Company") is pleased to inform shareholders that the first two holes of the recently commenced drill programme over the Kamativi lithium - tin target in Zimbabwe have intersected multiple pegmatite dykes, some over substantial widths.

Highlights

-- The first two angled holes (KSDD001 & 2) completed to date at Kamativi from a planned 11-hole programme have intersected multiple pegmatite zones up to 18m in downhole width, the longest running from 28.3m to 46.3m in hole KSDD001.

-- Pegmatites are variable in composition, including feldspars, mica, quartz, accessory black tourmaline and brown garnet, with green alteration in places.

-- Handheld pXRF analysers cannot detect lithium directly, however preliminary core analysis by pXRF shows low K/Rb ratios in many of the pegmatites, including the widest one, which can be indicative of lithium-bearing LCT pegmatites.

   --    Anomalous tin up to 0.13% associated with low K/Rb pegmatites. 

-- Galileo plans to send split drill core for quick indicative lithium analysis to a Zimbabwe laboratory, followed by full multielement analysis at the ALS laboratory in Johannesburg.

Colin Bird Chairman and CEO said " We are pleased with the thickness of the pegmatite intersections and are highly encouraged by the low potassium/rubidium ratios which academia and past practice shows to be often strongly indicative of lithium presence. We are preparing to dispatch some of the core to get an early indication of lithium content as we continue with the drilling programme nearby and on surrounding anomalies. ".

Kamativi Lithium Project

The Kamativi licence EPO 1782 covers an area of 520 sq km in western Zimbabwe. Galileo has an option to earn an 80% 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 July 2024.

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 [phone] 
                                      4477 
 Beaumont Cornish Limited - Nomad    Tel [phone] 
  Roland Cornish/James Biddle         3396 
                                    --------------------- 
 Novum Securities Limited - Joint 
  Broker 
  Colin Rowbury /Jon Belliss         [phone] 
                                    --------------------- 
 Shard Capital Partners LLP -        Tel [phone] 
  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

 
 "dyke"        A tabular intrusive rock cross-cutting the host 
                strata at a high angle. 
 "felspar"     A group of silicate minerals (potassium feldspar, 
                KAlSi(3) O(8) ; albite, NaAlSi(3) O(8) ; anorthite, 
                CaAl(2) Si(2) O(8) ), which are the main components 
                of acid, intermediate and basic igneous rocks. 
 "garnet"      A silicate mineral, commonly brown or red in colour, 
                found in igneous and metamorphic rocks. 
 "LCT"         Lithium-caesium-tantalum. 
 "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. 
 "quartz"      A mineral composed of silicon dioxide, SiO2. 
 "tourmaline"  Silicate mineral containing sodium, aluminium and 
                boron. 
 
 

Abbreviations

   K             Potassium 
   Li             Lithium 
   Rb           Rubidium 

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July 24, 2023 02:00 ET (06:00 GMT)