REG - Galileo Resources - Exploration Extends Target Footprint at Ferber

Galileo ResourcesAnnouncement

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RNS Number : 6065V  Galileo Resources PLC  18 August 2025

18 August 2025

 

Galileo Resources Plc

("Galileo" or the "Company")

 

Exploration Extends Target Footprint at Ferber Property, Nevada

 

Galileo Resources Plc ("Galileo") is pleased to report significant exploration
progress at its' 100% owned Ferber Property ("the Property") under the terms
of a Royalty and Exploration Agreement with Bronco Creek Exploration Inc.
("BCE"), a wholly-owned subsidiary of EMX Royalty Corporation ("EMX"). Mapping
and rock sampling to date has extended the scale of the major intrusive and
alteration complex indicating a large and strong hydrothermal system.

 

Highlights

 

·    Significant mapping and sampling results to date as part of the Phase
1 Target Generation programme include:

o Multiple intrusive phases identified, suggesting potential for a substantial
and complex mineralising system.

o 4 large fault blocks mapped extending the system to about 10km in an E-W
direction.

o Western side of system with granodiorite not previously mapped in detail -
intense sericitic alteration with skarns and visible copper oxide
mineralisation (grab sample assay results awaited).

o Soil sampling programme complete - samples now with the laboratory.

o Gravity geophysical survey planned for Q3/early Q4.

·    Previous grab sampling by Galileo at Ferber showed strong
lead-zinc-silver signature as well as copper and gold.

·    Analogies to Battle Mountain Trend deposits in Nevada (>100Mt Au
in production and reserves + substantial copper and silver production), such
as multiphase Eocene intrusives, skarn, alteration and copper-gold-silver
mineralisation.

·    Phase 2 of the BCE agreement incorporates a Reconnaissance Drilling
programme to test priority targets generated by Phase 1.

·    US administration support for fast-tracking of mine development
within the country represents a boost for exploration/mining projects,
including Ferber.

 

 

Colin Bird Chairman & CEO said: "I am very pleased to report that,
following our announcement regarding commencement of work at Ferber, the
Property is showing significant potential as was anticipated when we first
acquired the claims from St Vincent Minerals in the US. Nevada is a fertile
environment for copper and gold and we have identified geological similarities
at Ferber with other producing mines in the district. Our geological thinking
drives us towards a porphyry intrusive/skarn model - benefitting from the
knowledge and experience of BCE personnel who are executing our field
programmes at an operational level.

 

We strongly believe that the current investment climate and geopolitical drive
for certain commodities in the US provides impetus not available in previous
years. We are continuing our work with BCE to move the programme forward at
pace, with the aim of delineating drill targets during Q4 2025. We are very
encouraged by the results to date and look forward to updating shareholders as
work progresses."

 

 

 

Galileo/BCE Royalty and Exploration Agreement Summary

 

Please refer to RNS dated 13 May 2025

 

 

Ferber Project Background

 

The Property, located 40 kilometres south of Wendover in Elko County, Nevada,
comprises a series of patented and unpatented claims covering an area of about
20 square kilometres.

 

The Ferber District consists of a multi-phase Eocene igneous complex intruding
Pennsylvania-Permian age carbonates. The limestone units are domed around the
intrusive. Marble and skarn are developed at the margin of the intrusive
complex. The sedimentary and intrusive rock is cut by faults of various
orientations. Polymetallic mineralisation occurs as contact skarn and
replacement in limestone and the intrusive. Possible structurally controlled
sediment hosted gold deposits are present, as well as a porphyry base
metals/gold target.

 

Copper-lead-silver-gold deposits were discovered in the area in the 1880s. Ore
was shipped from the Martha Washington, Big Chief, Regent and other small
mines intermittently over the years. Limited production figures for the mines
list 97,878 pounds copper, 192,613 pounds lead, 11,851 ounces silver. Cordex
Exploration, Royal Gold and FMC Corporation have conducted exploration in the
area since 1980s-1990s.

 

Numerous surface samples have been collected during historic exploration along
with limited, mostly shallow, drilling. Reported drill intercepts include
2.37g/t Au over 4.6m and 0.59g/t Au over 10.7m as well as 0.83% Cu over 12.0m.
Individual grab samples collected by Galileo from old workings and dumps have
ranged up to 10.8g/t Au, 674g/t Ag, 4.19% Cu, 8.71% Pb and 7.62% Zn. In
addition, assaying for a limited range of other elements has shown anomalous
levels of bismuth and arsenic which are on the US list of critical minerals.

 

 

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 ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

Forward Looking Statements:

Certain statements in this announcement are or may be deemed to be forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as ''believe'' ''could'' "should" ''envisage''
''estimate'' ''intend'' ''may'' ''plan'' ''will'' or the negative of those
variations or comparable expressions including references to assumptions.
These forward-looking statements are not based on historical facts but rather
on the Directors' current expectations and assumptions regarding the Company's
future growth results of operations performance future capital and other
expenditures (including the amount. Nature and sources of funding thereof)
competitive advantages business prospects and opportunities. Such forward
looking statements reflect the Directors' current beliefs and assumptions and
are based on information currently available to the Directors. A number of
factors could cause actual results to differ materially from the results
discussed in the forward-looking statements including risks associated with
vulnerability to general economic and business conditions competition
environmental and other regulatory changes actions by governmental authorities
the availability of capital markets reliance on key personnel uninsured and
underinsured losses and other factors many of which are beyond the control of
the Company. Although any forward-looking statements contained in this
announcement are based upon what the Directors believe to be reasonable
assumptions. The Company cannot assure investors that actual results will be
consistent with such forward-looking statements.

 

 

Technical Glossary

 

 "Au"             Gold

 "Cu"             Copper

 "Eocene"         An epoch of the Tertiary period between the Palaeocene and Oligocene epochs

 "g/t"            Grammes/ tonne

 "igneous"        Applied to rocks that have solidified from a molten state

 "intrusive"      A body of igneous rock that invades older rocks

 "Pb"             Lead

 "Pennsylvanian"  A sub-period of the Carboniferous Period lasting from approximately 323.2 to
                  298.9 million years ago

 "Permian"        Period of Earth's history from 225 to 280 million years ago

 "porphyry"       A deposit of disseminated copper minerals in or around a large body of
                  intrusive rock

 "skarn"          Metamorphosed rock resulting from the hydrothermal interaction of hot silicate
                  magmas and cooler lime bearing sedimentary rocks

 "Zn"             Zinc

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