TIDMGLR
RNS Number : 4619G
Galileo Resources PLC
02 March 2018
For immediate release
2 March 2018
Galileo Resources Plc
("Galileo" or "the Company")
Star Zinc Drilling Results
Galileo is pleased to announce positive results from three of
its first four drill holes on its current drilling programme at its
Zambian Star Zinc project ("Star Zinc"), in which the Company has
an 85% interest.
Highlights
-- More than 1,100 metres (m) of diamond core drilling (24
holes) completed to date on Star Zinc to depths of up to 80m
-- Drilling results for three of the first four drill holes
showed significant intersections of extremely high-grade zinc over
good down-hole lengths from surface (see table 1).
-- Hole 002 showed a weighted average assay of 38.15% Zn over
16m (downhole), Hole 004 showed 25.12% Zn over 6m and Hole 6 showed
20.12% Zn over 20m (all 0.4% Zn cut off)
-- Significant germanium (Ge) values, up to 63 ppm (g/t) Ge
associated with high grade Zn mineralisation, and silver (Ag)
recorded in intersections of: Germanium has been trading at over
$2000/kg ($2/g) (28 February
2018 source http://www.kitco.com/strategic-metals/)
-- Now drilling in eastern ore body and strike continuation
evident with mineralisation, subject to independent assay: 11m
downhole @ 13% Zn and 9m @ 11% Zn in two holes(a)
-- Strike length of high-grade mineralisation increased by
further 30m in the eastern ore body to estimated aggregate 220m
length (W-E) and width between 50 m (West) and 90m (East)
-- Mineralisation remains open to the east and several other
peripheral and outlying geophysical and geochemical anomalies
remati be explored in untested
-- Internal rock mass calculations indicate that the resource
tonnage could exceed that historically reported
(a) average of regular spaced 3 point readings over the
mineralised intersection . Whole length core samples are submitted
for independent assay by Intertek Genalysis Laboratory Services
Colin Bird, Chief Executive Officer, said: "We are very pleased
with these drilling results. This drilling program has yielded very
high value zinc assay intersections with significant germanium and
silver The presence of germanium and silver constitutes potentially
valuable by-products and possible revenue. Once we have fully
modelled the programme data, we will embark on another programme to
explore other anomailes in the area using ground geophysics as our
guide. This ore body shows the potential for significant quantities
of high grade willemite zine mineralisation; a postulated feeder
source for this mineralisation could be sulphides and we will be
seeking external expert advice to assist to locate this possible
source."
Table 1 Drilling results for boreholes drilled in the ore body
(b)
Hole From To Intersection Zn Ge (germanium) Ag
ID SZD
(downhole) (downhole downhole (zinc) weighted (silver)
m m m (weighted ave. weighted
ave. ave.
% ppm ppm
---------------- ------------ ----------- ------------- ----------- --------------- ----------
002 0.0 46.0 47.0 15.61 17 11
---------------- ------------ ----------- ------------- ----------- --------------- ----------
Inc. 0.0 36.0 16.0 38.15 38 * 13
---------------- ------------ ----------- ------------- ----------- --------------- ----------
Inc. 38.7 41.0 2.3 22.32 30 32
---------------- ------------ ----------- ------------- ----------- --------------- ----------
004 8 18.0 10.0 13.47 14.8 10
---------------- ------------ ----------- ------------- ----------- --------------- ----------
Inc. 8.0 14.0 6.0 25.12 18.9 13
---------------- ------------ ----------- ------------- ----------- --------------- ----------
006 12.00 21.0 9.0 14.10 8.2 na
---------------- ------------ ----------- ------------- ----------- --------------- ----------
Inc. 14.00 20.0 6.0 20.12 11.7 na
---------------- ------------ ----------- ------------- ----------- --------------- ----------
* the individual assays comprising the weighted average ranged
from 17 to 63 ppm Ge
na = not assayed
(b) Analysis by Accredited Intertek Genalysis Laboratory
Services: Zn and Ge by Peroxide fusion Afinish with ICP-OES/MS; Ag
by 4-Acid digestion with MS. Analyses subject QA/QC quality
assurance/checks
Table 2 - Result for Hole 5, which was drilled on the fringes of
the ore body (b)
Hole From To Intersection Zn Ge (germanium) Ag
ID SZD
(downhole) (downhole) length (zinc) weighted (silver)
(downhole)
(weighted ave. weighted
ave. ave.
m % ppm ppm
m m
-------- ------------ ------------ ------------- ----------- --------------- ----------
005 0.0 19.0 19.0 3.22 5.4 na
-------- ------------ ------------ ------------- ----------- --------------- ----------
na = not assayed
(b) Analysis by Accredited Intertek Genalysis Laboratory
Services: Zn and Ge by Peroxide fusion finish
with ICP-OES/MS; Ag by 4-Acid digestion with MS. Analyses subject QA/QC quality assurance/checks
This announcement contains inside information for the purposes
of Article 7 of Regulation 596/2014.
Technical Sign-Off
Andrew Sarosi, Director of Galileo, who holds a B.Sc. Metallurgy
and M.Sc. Engineering, University of Witwatersrand and is a member
of the Institute of Materials, Minerals and Mining, is a "qualified
person" as defined under the AIM Rules for Companies and a
competent person under the reporting standards. The technical parts
of this announcement have been prepared under Andrew's supervision
and he has approved the release of this announcement.
You can also follow Galileo on Twitter: @GalileoResource
For further information, please contact:
Galileo Resources PLC Tel +44 (0) 20 7581
Colin Bird, Chairman 4477
Andrew Sarosi, Executive Tel +44 (0) 1752 221937
Director
Beaumont Cornish Limited Tel +44 (0) 20 7628
- Nomad 3396
Roland Cornish/James Biddle
Beaufort Securities Limited - Broker Tel +44 (0) 20 7382
Jon Bellis/Elliot Hance 8416
The Star Zinc Project
The Star Zinc project is a historical small-scale open pit mine
from where, reportedly, low tonnage, but high grade willemite (a
zinc silicate mineral) was extracted intermittently in the 1950s to
1990s.
The Star Zinc project is located approximately 18km NNW of
Lusaka (see Figure 3.1 below), and is accessible via the tarred
"Great North Road" and a good all weather graded road, with the
journey time from central Lusaka of approximately 30 minutes
(traffic allowing).
There is adequate power, water, rail & telecommunications,
with the International Airport at Lusaka, less than 45 minutes
away.
The Mines and Minerals Development Act No. 7 of 2008, which
grants a Large Scale Prospecting Licence for a maximum of 7 years,
governs the mineral tenement. Recent changes to the Act now
provides for an initial 4 years with a furhter two 3-year
extensions totalling 10 years, with a mandatory 50% reduction of
licence area at the completion of the 1st grant and 2nd grant
periods respectively. The first renewal period initially expired 13
August 2016 but was extended to 13 August 2018.
The Star Zinc Willemite project was mapped in the 1960s by
several geologists of the Northern Rhodesia (now Zambia) Geological
Survey.
At Star Zinc, two main fracture trends are present, one E - W,
and another N - S. Both sets of fractures are nearly vertical and
are irregularly mineralised. Willemite generally replaces the host
rock marbles in the form of massive ore bodies, but it occurs also
in veins
In addition, karstic (pertaining to landscape underlain by
limestone which has been eroded by dissolution, producing ridges,
fissures, sinkholes and other characteristic landforms)
mineralisation and red soils (terra rossa) are locally heavily
mineralised with detrital willemite and supergene zinc minerals.
Zinc values measured in soils at Star Zinc reach up to 15,600 ppm
and are accompanied by the pathfinder elements Ag (silver), Pb
(lead) , Ba (barium), Sb (antimony) and Cd (cadmium). The karst
infill has a zinc (Zn) content up to 45wt.% Zn, up to 35wt.% Fe and
up to 5g/t Ag.
The mineralogical assemblage of Zn nonsulphides includes a whole
number of minerals, but the main economic phases present are
Zn-silicates (willemite, hemimorphite, Zn-bearing clays), Zn- Pb
carbonates (smithsonite, cerussite), hydrated Zn- Pbcarbonates
(hydrozincite, hydrocerussite) and Zn- Mn- Fe- oxides (zincite,
franklinite, gahnite).
Limited independent metallurgical testwork by others has clearly
shown that the willemite present at Star Zinc is amenable to acid
leaching with positive results for two samples tested. Zinc
leaching efficiencies obtained ranged from 89% and 92%. The
testwork indicated polymerisation of dissolved silica in the
leachate.
An independent competent person's report commissioned by BMR
concluded. In summary, the Star Zinc project has good potential to
become a viable project.
Note: the information about Star Zinc is sourced primarily from
Competent Person's Report for the Star Zinc Project , Zambia;
Wardell Armstrong, January 2016
Glossary
Detrital loose fragments or grains that have been worn away from rock
Calcite mineral of calcium carbonate
Dolomite mineral composed of calcium magnesium carbonate
Dolomitic pertaining to dolomite
Floats pieces of rock that have been removed and transported
from their original outcrop
Hematite reddish-black mineral consisting of ferric oxide. It is
an important ore of iron.
ICP-OES/MS inductively coupled plasma - optical emission spectrometery/mass spectrometery
Karstic pertaining to landscape underlain by limestone (calcium
carbonate), which has been eroded by dissolution, producing ridges,
fissures and so on
Leaching chemical process of solubilising metals in rock into solution
ppm parts per million
XRF Spectrometer analytical instrument for determining chemical
composition using x-ray fluorescence
Supergene pertaining to processes or enrichment that occurs
relatively near surface
Willemite zinc silicate ore mineral
This information is provided by RNS
The company news service from the London Stock Exchange
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