Announcement Date: 2022-07-20
Announcement Type: Drilling Results
Announcement Code: (other Code)
Company name: Galileo Resources Plc
Project name: Shinganda
Location: Zambia
Commodities: Copper
Highlight: Drilling results incl. 50.3m @ 1.53% Cu from 21m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Galileo Resources plc (“Galileo “or the “Company”) is pleased to provide preliminary drill results and a prospecting update over its’ Option and Joint Venture project covering the Shinganda Copper-Gold (Cu-Au) Project, Zambia (the “Project”) where the Company has the right to earn an initial 51% interest. Three of the four angled holes drilled at the Shinganda outcrop target for which copper assays have been received intersected shallow intervals of semi-massive hematite mineralisation with strongly disseminated copper Previously reported mapping/prospecting traverses across the Shinganda licence area by Galileo (30th May 2022) identified nine targets which have been subjected to recent small-scale artisanal excavation. Rock grab sample assay results have returned strongly anomalous results for copper and gold from most of these, including 1.42% Cu, 3.14g/t Au from the Shinganda outcrop and 1.79% Cu, 10.19g/t Au & 3.77% Cu, 1.24g/t Au from other occurrences within the licence area The outcome of the prospecting, showing the presence of copper and gold mineralisation over an area of at least 12km x 6km on the Shinganda licence, points to the potential for several shallow copper-gold deposits on the property or for a potentially larger target
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