Galileo Resources PLC (AIM:GLR) has reported the highest grade results to date from its initial exploration of the Shinganda Copper-Gold (Cu-Au) project in Zambia.
Results from Target 1, the primary target, returned values of 33.90 grammes per tonne (g/t) Au, 20.16g/t Au and 8.54g/t Au.
"We are thrilled with the results from the Shinganda project," said Colin Bird, Galileo’s chairman and chief executive.
"The high-grade gold results, often with complementary copper values, only confirm the exciting opportunity offered by Shinganda.
“Our focus now is to identify the mineralization driver and prove up a meaningful resource."
Target 1, which showed an east-west anomalous gold trend over a minimum area of 120 metres (m) by 25m, remains open in several directions and is a priority for further testing and drilling.
Target 7, a 25m-wide pit located 8 kilometres (km) from Target 1, returned peak values of 3.44g/t Au and 0.53% Cu from a chip/channel sampling program.
Galileo plans to commit to a significant programme of exploration in 2023, including testing the strike extensions of the three targets and possibly conducting soil surveys followed by drilling.
It has also commissioned a re-interpretation of ground magnetic geophysical data and may expand soil geochemical surveys to test for other blind targets.
"The more we explore, the more positive we become about the project," said Bird.
"Our activities are confirming and extending geological trends identified by a major mining house, and we believe that the project has a great deal of potential."
Galileo owns 51% of Shinganda.