19 March 2024
Galileo Resources
Plc
("Galileo" or
"the Company")
Kamativi Lithium-Tin Project
- Drill Assay Results
Galileo Resources plc ("Galileo "or
the "Company") is pleased to inform shareholders regarding full
Phase 1 drill assay results received for the Company's 80% owned
Kamativi Lithium-Tin Project in Zimbabwe.
Highlights
·
Full assay results now received from ALS Chemex
for the 10-hole Phase 1 angled drilling programme at Kamativi over
an area of about 1km x 0.5km show extensive lithium enhancement
focussed on cross-cutting pegmatites/aplites and within mica-schist
host rock.
·
Initial in-country assays in the first hole,
KSDD001 (refer to RNS's dated 21 August 2023 and 17 October 2023)
were confirmed by definitive assays at the accredited ALS Global
Laboratories, including a zone of 4m @ 1.03% Li2O from 35m depth in
a discordant pegmatite within a wide 63.94m zone assaying 0.26%
Li2O across both pegmatites and mica-schist host rock - see Table 1
and Figure 1 below.
·
While tin was not specifically targeted in this
drill phase, anomalous values were encountered ranging up to 0.19%
Sn over 1.3m from 95.2m depth in hole KSDD005.
·
Thin section and XRD mineralogical examination
have confirmed the presence of spodumene mineralisation in the
KSDD001 intercept, while further work is required to identify the
nature of more widespread lithium mineralisation within the host
rock.
·
The Company believes that the drilling and mapping
results indicate an extensive hydrothermal event at Kamativi which
introduced lithium to the rock package over a substantial
area.
·
Geological mapping and prospecting have identified
mineralisation/alteration in pegmatites over at least 1.5km strike
length which has only been partially drill tested to
date.
·
Further exploration will focus specifically on
cross-cutting pegmatite/aplite dykes as well as the source of the
widespread lithium occurrences both within the current Target 1 and
at four other identified target zones on the property.
Colin Bird Chairman and CEO said "This is our initial
reconnaissance drilling programme which has yielded encouraging
results peaking at 1.03% Li2O over 4 metres. An unusual feature of
this discovery is the spread of highly anomalous lithium through
the mica schist host rock as opposed to being solely contained
within the pegmatite. We have no doubt that discordant pegmatites
are the drivers to lithium content and our mapping programmes have
located more discordant pegmatites than previously recognised. On
the basis that the nearby Kamativi mine was a long-producing tin
operation it comes as no surprise that we also see anomalous tin
associated with these discordant pegmatites, in some cases
coincident with lithium.
We
are pleased with the outcome of the reconnaissance drilling
programme and our ongoing field work. We plan to undertake further
drilling for lithium and tin based on this Phase 1 drilling outcome
and results of the mapping work.
In
addition to the lithium/tin exploration, the Company has also
undertaken exploration over targets in the vicinity of the historic
Gwaii Copper Mine in the southern part of the licence, where new
soil anomalies have been identified. These will be followed up
concurrently with the lithium/tin
programme."
|
Table 1 - Kamativi Phase 1
Drill Assay Averages >0.1% Li2O*
|
|
Hole_ID
|
From (m)
|
To (m)
|
Width (m)
|
Li2O%
|
|
|
|
|
|
|
|
KSDD001
|
12.30
|
76.24
|
63.94
|
0.26
|
|
Including
|
22.10
|
24.00
|
1.90
|
0.28
|
|
|
25.00
|
26.00
|
1.00
|
0.29
|
|
|
30.00
|
39.00
|
9.00
|
0.61
|
|
Including
|
35.00
|
39.00
|
4.00
|
1.03
|
|
|
|
|
|
|
|
KSDD001
|
45.00
|
57.17
|
12.17
|
0.36
|
|
KSDD001
|
61.00
|
65.59
|
4.59
|
0.27
|
|
KSDD001
|
83.28
|
110.28
|
27.00
|
0.12
|
|
|
|
|
|
|
|
KSDD002
|
40.00
|
52.00
|
12.00
|
0.12
|
|
KSDD002
|
57.50
|
59.00
|
1.50
|
0.14
|
|
KSDD002
|
77.00
|
80.00
|
3.00
|
0.15
|
|
KSDD002
|
84.00
|
99.05
|
15.05
|
0.16
|
|
Including
|
84.00
|
85.00
|
1.00
|
0.31
|
|
|
|
|
|
|
|
KSDD002
|
121.33
|
127.43
|
6.10
|
0.18
|
|
KSDD002
|
131.37
|
133.98
|
2.61
|
0.18
|
|
|
|
|
|
|
|
KSDD003
|
52.20
|
53.50
|
1.30
|
0.13
|
|
KSDD003
|
86.60
|
88.78
|
2.18
|
0.11
|
|
|
|
|
|
|
|
KSDD004
|
8.00
|
22.30
|
14.30
|
0.17
|
|
Including
|
14.28
|
15.74
|
1.46
|
0.25
|
|
|
|
|
|
|
|
KSDD004
|
17.00
|
22.30
|
5.30
|
0.27
|
|
KSDD004
|
32.70
|
51.00
|
18.30
|
0.18
|
|
Including
|
35.85
|
39.50
|
3.65
|
0.28
|
|
|
|
|
|
|
|
KSDD004
|
57.50
|
69.80
|
12.30
|
0.16
|
|
KSDD004
|
74.94
|
78.82
|
3.88
|
0.15
|
|
|
|
|
|
|
|
KSDD005
|
59.00
|
83.00
|
24.00
|
0.14
|
|
Including
|
77.07
|
80.00
|
2.93
|
0.27
|
|
|
|
|
|
|
|
KSDD005
|
93.00
|
95.20
|
2.20
|
0.13
|
|
|
|
|
|
|
|
KSDD006
|
19.00
|
23.50
|
4.50
|
0.13
|
|
KSDD006
|
33.00
|
37.00
|
4.00
|
0.19
|
|
KSDD006
|
49.89
|
55.79
|
5.90
|
0.17
|
|
KSDD006
|
58.88
|
61.95
|
3.07
|
0.15
|
|
KSDD006
|
66.22
|
85.00
|
18.78
|
0.15
|
|
|
|
|
|
|
|
KSDD007
|
84.00
|
85.31
|
1.31
|
0.11
|
|
|
|
|
|
|
|
KSDD008
|
102.00
|
110.00
|
8.00
|
0.12
|
|
|
|
|
|
|
|
KSDD009
|
45.68
|
55.95
|
10.27
|
0.16
|
|
Including
|
54.00
|
55.95
|
1.95
|
0.27
|
|
|
|
|
|
|
|
KSDD009
|
63.90
|
70.00
|
6.10
|
0.14
|
|
|
|
|
|
|
|
KSDD010
|
131.72
|
135.00
|
3.28
|
0.19
|
|
KSDD010
|
140.00
|
181.00
|
41.00
|
0.18
|
|
Including
|
140.00
|
143.05
|
3.05
|
0.29
|
|
|
|
|
|
|
|
KSDD010
|
145.10
|
145.50
|
0.40
|
0.29
|
|
KSDD010
|
147.83
|
152.28
|
4.45
|
0.30
|
|
KSDD010
|
154.68
|
158.28
|
3.60
|
0.27
|
|
KSDD010
|
159.11
|
159.77
|
0.66
|
0.28
|
|
KSDD010
|
162.30
|
163.00
|
0.70
|
0.25
|
|
KSDD010
|
184.77
|
189.00
|
4.23
|
0.12
|
|
|
|
|
|
|
* Downhole intervals - true
widths not currently known
Figure 1 - Kamativi Drill
Plan Showing Hole Locations and Selected Assay Intervals >0.1%
Li2O
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
Roland Cornish/James
Biddle
|
Tel +44 (0) 20 7628 3396
|
|
Novum Securities Limited - Joint
Broker
Colin Rowbury /Jon
Belliss
|
+44 (0) 20 7399 9400
|
|
Shard Capital Partners LLP - Joint
Broker
Damon Heath
|
Tel +44 (0) 20 7186 9952
|
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 Terms
|
|
|
|
|
"aplite"
|
A fine-grained acid igneous rock
with a characteristic texture.
|
|
|
"hydrothermal"
|
Descriptive of hot magmatic
emanations rich in water.
|
|
|
"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.
|
|
|
"schist"
|
A metamorphic rock with a platy or
foliated texture.
|
|
|
"spodumene"
|
A lithium aluminium silicate mineral
and an important ore of lithium.
|
|
|
"XRD"
|
X-Ray Diffraction - a technique for
identifying minerals by analysing X-rays passed through a
rock.
|
|