Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Galileo Resources unearths high grade mineralisation at Star Zinc project

“This drilling programme has to date produced encouragingly high grade zinc intersections, that is leading us to revise our understanding of the geology of the deposit"
The findings show high-grade mineralisation between 15% and 28% zinc

Galileo Resources PLC (LON:GLR) has updated investors on its ongoing drilling programme at the Star Zinc project in Zambia.

Over 750 metres of diamond core drilling has been completed to date, with individual holes being drilled down as deep as 70 metres, and thirteen holes have intersected high grade mineralisation marking out 100 metres of strike length.

READ: Offtake Heads-of-Terms signed by phosphate subsidiary of Galileo Resources

The findings show high grade mineralisation between 15% and 28% zinc, meanwhile, lower grade zinc was also encountered.

Galileo continues to drill and it plans to complete a total of 1,500 metres worth of drilling.

“This drilling programme has to date produced encouragingly high grade zinc intersections, that is leading us to revise our understanding of the geology of the deposit from that historically described by Charter Consolidated and others,” said Colin Bird, Galileo chief executive.

“We will continue drilling and embark on data modelling, in order to create a signature for and delineate the distribution of the various grades of mineralisation.”

READ: Galileo Resources steps up activity on zinc and phosphate interests

He added: “The historic model of mineralisation of Star Zinc, based entirely on vertically  drilled holes, suggested the mineralisation forms two irregular tabular lenses dipping shallowly both east and west of the pit.

“Although the geological and structural controls on mineralisation are still to be fully understood, the latest drill data suggest the highest grade and thickest mineralisations are associated with a series of E-W faults (possible feeders.)."

View full GLR profile View Profile

Galileo Resources PLC Timeline

Related Articles

Kola may have more than 1bn tonnes
August 20 2018
A first mineral resource estimate (MRE) for the Dongou Extension deposit had identified 232mln tonnes grading at 38.1% sylvinite (KCl)
cobalt on the periodic table
March 05 2018
Avondale is 13km from the company’s Fifield Project in New South Wales and previous exploration work focused on whether the deposit was rich in platinum group metals.
Drilling rig at Mt Venn project
May 09 2018
The project is 30 kilometres west of the Gruyere gold deposit in the Eastern Goldfields district of Western Australia.

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 suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use