Galileo Resources PLC Drilling underway on Licence 28001, NW Zambia
08 Agosto 2024 - 8:00AM
RNS Regulatory News
RNS Number : 5954Z
Galileo Resources PLC
08 August 2024
RNS Number
:
Galileo Resources
PLC
8 August
2024
Galileo Resources
Plc
("Galileo" or the
"Company")
Drilling underway on Licence
28001, Western Foreland, NW Zambia
The Company is pleased to confirm
that Phase 1 drilling on Licence 28001 - HQ - LEL in NW Zambia has
commenced. The Licence is situated within the Western Foreland and
drilling is targeting Kamoa - Kakula-type mineralisation. A number
of potential lithological contacts have been identified by the
exploration team that could provide suitable conditions for the
development of redox fronts and associated copper mineralisation.
These will be tested in the coming weeks.
The Company will provide the market
with updates when results are received.
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").
Beaumont Cornish Limited, which is authorised and regulated in
the United Kingdom by the Financial Conduct Authority, is acting as
nominated adviser to the Company in relation to the matters
referred herein. Beaumont Cornish Limited is acting exclusively for
the Company and for no one else in relation to the matters
described in this announcement and is not advising any other person
and accordingly will not be responsible to anyone other than the
Company for providing the protections afforded to clients of
Beaumont Cornish Limited, or for providing advice in relation to
the contents of this announcement or any matter referred to in
it.
END
Technical glossary
|
"redox"
|
Oxidation/reduction reaction
occurring in the weathering zone along the water table.
|
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END
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