logo-loader
viewGalileo Resources PLC

Galileo Resources reveals conceptual grade tonnage estimate for the Star zinc project in Zambia

The resource is only conceptual in nature, but nonetheless represents a significant uplift on the results of previous work completed in 2015

1528096558_zinc-periodic-4.jpg
Work at the Star zinc project is now accelerating

Galileo Resources PLC (LON:GLR) has outlined a conceptual resource estimate for the Star zinc project in Zambia, in which it holds an 85% interest in joint venture with BMR Group PLC.

The conceptual estimate follows a recently completed 26-hole diamond drilling programme.

READ: Grades at Galileo’s Star zinc project indicate upside could be greater than previously thought

Under the parameters of the estimate, which has not been completed to JORC standards, the conceptual grade tonnage at Star could amount to 485,000 tonnes of ore grading 15.4% zinc.

The conceptual analysis suggests a core of high grade massive willemite material in both the east and west limbs of the deposit.

There’s also further exploration potential to extend mineralisation to the east-north-east and south-east, which remain open-ended.

"This result is very pleasing in as much as it substantiates our initial prognosis for acquiring a majority interest in the project,” said chief executive Colin Bird.

“The study has demonstrated two quite distinct mineralisation types which potentially could lead to significant increases in tonnage of material with zinc-grade in excess of cut-off. The areas to the east and south-east of the mineralised domain remain open with good geophysics and geochemical signatures identified. The company intends to test the prognosis for a deeper feeder source for the mineralisation but prior to this it will research this further, which to a large degree will be led by the current programme evaluation and further drill results."

Quick facts: Galileo Resources PLC

Price: 0.485 GBX

AIM:GLR
Market: AIM
Market Cap: £2.71 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Galileo Resources PLC named herein, including the promotion by the Company of Galileo Resources PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Galileo Resources hits 'exceptionally' high grades at Star Zinc project

Colin Bird, chief executive at Galileo Resources PLC (LON:GLR), tells Proactive's Andrew Scott they've struck 'exceptionally' high zinc grades of between 41.51% and 46.58% across three holes drilled as part of a wider swathe of drilling on the Star zinc project in Zambia. So far, 26...

on 10/4/18

2 min read