Company
LON:GLR
Galileo Resources PLC is an opportunity-driven company whose model is to acquire large databases generated by major companies and abandoned for strategic, corporate, technical and other reasons which do not necessarily reflect the potential value of the project. The company has a strong management team who have succeeded in discovering, evaluating and advancing mining projects.
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8 December 2022*A corporate client of Hybridan LLP** Arranged by most recent first*** Alphabetically arrangedDish of the dayJoiners:No joiners today.Leavers:No leavers today.What’s cooking in the IPO kitchen?**LON:SAVE, the AIM-quoted energ
These results mark an important step towards a new mineral resource, noted the junior
Five initial priority gold and nickel targets were generated from the recent review of a 1,108 square kilometre airborne geophysical survey over the Bulawayo gold project in Zimbabwe
The consideration for the sale "will be a welcome addition to the company's treasury in a market which is not currently that favourable for fundraising for exploration companies," said Galileo chairman and CEO Colin Bird
"Against this background we are convinced that our portfolio is very well placed with quality projects in the right arena," the company said in its full-year results statement
Three nickel targets with the potential for follow-up have been identified
Evidence from the survey ‘certainly points to the possibility of a large gold system discovery’
Following the acquisition, Galileo would hold an 80% interest in BC Ventures
The Luansobe area is situated about 15km to the northwest of the Mufulira mine which produced more than 9 million tonnes of copper during its operation
“There appear to be a number of structural trends several of which are worthy of follow-up"
“The fact that we can access this old core is extremely cost and time effective, reducing the amount of new drilling that will be required," said chief executive Colin Bird
Galileo has an option to earn an initial 51% interest in the two projects
JSE-listed Afrimat is in the process of acquiring the whole of Galileo’s stake in Glenover
Galileo has been granted an option to acquire a 51% stake in the Kamativi lithium project and the Bulawayo gold project
Progress has been made on initial modelling of the deposit using historic drill data
"This marks the start of earnings from the Star Zinc operation, which are progressing and will continue exporting more material"
A drill programme will follow to upgrade the 1974 global resource
"We are very pleased with the addition of the Luansobe brownfield Project within the Zambian Copperbelt,” said Colin Bird, the chairman and chief executive officer of Galileo.
