REG - Galileo Resources - Drilling underway on Shinganda Licence, Zambia

Galileo ResourcesAnnouncement

21/08/2024 07:00

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RNS Number : 1593B  Galileo Resources PLC  21 August 2024

 

Aug 21 2024

 

 

Galileo Resources Plc

("Galileo" or the "Company")

 

Drilling underway on Shinganda Licence, Central western Zambia

 

The Company is pleased to confirm that Phase 3 RC drilling on the Shinganda
Licence has commenced.  Exploration including drilling to date has
established the potential for a large IOCG-type target and the current
programme is focusing on an approximate 10km strike length of Cu - Au
mineral-bearing fault/shear targets along the Shinganda Main Fault and Splay
structures broadly defined by the Company to date. These structures exposed at
surface are proven to host copper - gold mineralisation within shears
associated with the Shinganda Splay Fault. The extent of the mineralisation
will be tested during this programme.

 

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

 

 

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