GLR.L

Galileo Resources Plc
Galileo Resources - Drilling underway on Licence 28001, NW Zambia
8th August 2024, 06:00
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RNS Number : 5954Z
Galileo Resources PLC
08 August 2024
 

RNS Number :

Galileo Resources PLC

8 August 2024

 

Galileo Resources Plc
("Galileo" or the "Company")

 

Drilling underway on Licence 28001, Western Foreland, NW Zambia

 

The Company is pleased to confirm that Phase 1 drilling on Licence 28001 - HQ - LEL in NW Zambia has commenced. The Licence is situated within the Western Foreland and drilling is targeting Kamoa - Kakula-type mineralisation. A number of potential lithological contacts have been identified by the exploration team that could provide suitable conditions for the development of redox fronts and associated copper mineralisation. These will be tested in the coming weeks.

The Company will provide the market with updates when results are received.

 

Technical Sign-Off

Technical information in this announcement has been reviewed by Edward (Ed) Slowey, BSc, PGeo, Technical Director of Galileo. Mr Slowey is a geologist with more than 40 years' relevant experience in mineral exploration and mining, a founder member of the Institute of Geologists of Ireland and is a Qualified Person under the AIM rules. Mr Slowey has reviewed and approved this announcement.

 

You can also follow Galileo on Twitter: @GalileoResource

 

For further information, please contact: Galileo Resources PLC

 

Colin Bird, Chairman

Tel +44 (0) 20 7581 4477

Beaumont Cornish Limited - Nomad

Roland Cornish/James Biddle

Tel +44 (0) 20 7628 3396

Novum Securities Limited - Joint Broker

Colin Rowbury /Jon Belliss

+44 (0) 20 7399 9400

Shard Capital Partners LLP - Joint Broker

Damon Heath

Tel +44 (0) 20 7186 9952

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

 

Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.

 

 

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Technical glossary

 

"redox"

Oxidation/reduction reaction occurring in the weathering zone along the water table.

 

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