The miner completed the first phase of drilling for its 80.75%-owned Star Zinc during the first half ended September 30.
The first non-JORC conceptual grade tonnage (CGT) estimate in May indicated a mineralised deposit of 485 000 tonnes grading 15.4% zinc with an estimated 74,800 tonnes zinc metal.
In August the group began phase two drilling that led to a second CGT estimate, which suggested a maiden resource estimate (MRE) on Star Zinc will likely result in a larger tonnage and contained metal at lower grade than previously announced.
The new CGT estimates models an exploration target at above 3% zinc cut off of between 600,000 and 900,000 tonnes with an estimated average grade of 10% to 12% zinc and an estimated 90,000 to 110,000 tonnes of zinc metal.
The company has said it would be increasing its stake in the Star Zinc project to 95%. In September it announced that it had executed a heads-of-agreement with BMR Group to acquire the Kabwe Residual Rights in Zambia, which included the Kabwe mining license, for an aggregate of around £275,000 through a mixture of cash and Galileo shares.
Galileo made a loss per share of 0.1p in the first half, in line with last year, while operating expenses fell 26.36% to £ 255,677.