Galileo Resources to drill further at Star Zinc after encouraging study
There was a good correlation with known zinc mineralisation at Star Zinc
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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There was a good correlation with known zinc mineralisation at Star Zinc
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The resource is only conceptual in nature, but nonetheless represents a significant uplift on the results of previous work completed in 2015
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The findings will be used in a new conceptual 3D-model and grade-tonnage estimates for the project
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The AIM-listed miner said the 50mln new shares, with a placing price of 1.1p or a 20% discount on the 11 April 2018 mid-market close of 1.375p, would be admitted to trading on AIM at or around 17 April 2018
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Results will help Galileo move on towards expanding the resource at Star
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