REG - Galileo Resources - Drilling underway on Licence 28001, NW Zambia

Galileo ResourcesAnnouncement

08/08/2024 07:00

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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           Tel +44 (0) 20 7628 3396

 Roland Cornish/James Biddle
 Novum Securities Limited - Joint Broker    +44 (0) 20 7399 9400

 Colin Rowbury /Jon Belliss
 Shard Capital Partners LLP - Joint Broker  Tel +44 (0) 20 7186 9952

 Damon Heath

 

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.

 

 

END

 

Technical glossary

 

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

 

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