REG - Galileo Resources - Kamativi Lithium Project - Exploration Update

Galileo ResourcesAnnouncement

08/12/2022 07:00

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RNS Number : 9805I  Galileo Resources PLC  08 December 2022

 

For immediate release

 

8 December 2022

Galileo Resources Plc

("Galileo" or "the Company")

 

Kamativi Lithium Project - Reconnaissance and Follow-up Sampling Programmes

 

Galileo Resources plc ("Galileo "or the "Company") is pleased to provide an
update on a reconnaissance mapping and sampling programme completed over the
Kamativi Lithium Project ("Project") in southwest Zimbabwe. The Project area
comprises exploration licence EPO 1782 covering an area of 520 sq km in
western Zimbabwe. Galileo has a current interest of 29% in the Project, held
through its interest in BC Ventures, along with an option to earn an
additional 51% interest through spending a combined total of $1.5million on
exploration and evaluation in the Project area and over the Bulawayo
gold-nickel property by 21 January 2024.

 

Highlights

·    Detailed reconnaissance mapping and sampling over the Kamativi
lithium project has identified four target zones with potential for
pegmatite-hosted lithium, tin and tantalum

·    The target zones lie along strike extensions or on parallel
structures to the Kamativi Tin Mine which contains a JORC (2012) compliant
Indicated Mineral Resource of lithium  in tailings of 26.3Mt @ 0.58% Li2O
(Lithium Oxide)

·    Former workings for tin, tantalum and tourmaline are noted within the
Project area on the historic geological maps but lithium was not targeted at
that time

·    Possible visual identification of spodumene and petalite
mineralisation by the Galileo field team in rock chip samples from one site
will require laboratory confirmation

·    1,661 samples, comprising rock chips, stream sediments and soil
samples have been dispatched to an assay laboratory for a range of elements,
including lithium, tin and tantalum

·    Confirmed targets will be identified for follow up work which may
include drilling

 

 

Colin Bird Chairman & CEO said: "We have meticulously sampled the
pegmatites over four target zones across our Kamativi lithium project licence
area with the mission of identifying lithium occurrences, as well as testing
the significant potential for tin and tantalum. We await the results of
laboratory analysis and, if appropriate, we will aim to progress confirmed
prospects to drill testing stage. We also have a substantial number of
additional samples in storage for analyses, depending on the results of the
current batch.

The prospects for lithium remain strong and Zimbabwe is an emerging source of
this new age metal."

 

 

Kamativi Reconnaissance Mapping and Sampling Programme

The Company announced the intended reconnaissance mapping/sampling programme
at Kamativi on 26 April 2022 and this has been completed over four target
zones on the Kamativi licence area to check for pegmatite hosted lithium
mineralisation, as well as associated elements such as tin and tantalum. The
targets were chosen based on location along structures on strike from and/or
parallel to the Kamativi tin mine zone which contains an associated lithium
resource in tailings, as well as mapped pegmatite dyke occurrences and
historic workings on the Galileo property.

 

A total of 5,326 samples were collected in the form of rock chip, stream
sediment and soil samples, the sample type being dictated by the extent of
bedrock exposure, and the terrain. Of these samples, 1,661 were initially
selected for laboratory analysis based on pXRF analysis, comprising 79 rocks,
87 streams and 1,495 soils. Soil sampling was carried out on a 400m x 40m grid
spacing. Analysis is planned for a suite of elements including lithium, tin,
tantalum, tungsten and a range of potential lithium indicator elements.

 

Positive results arising from this programme will be followed up by detailed
mapping, sampling and possible geophysics, with the aim of identifying
priority targets for drill testing.

 

The Company will provide a map of these areas once all assay 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").

 

Technical Glossary

 

 "amblygonite"  A fluorophosphate mineral, composed of lithium, sodium, aluminium, phosphate,
                fluoride and hydroxide

 "fluorite"     A mineral of composition CaF2 common in some base metal deposits

 "gneiss"       Metamorphic rock, often of granitic origin

 "granite"      A medium to coarse grained granular acid intrusive rock

 "lepidolite"   A lilac-grey or rose-coloured member of the mica group of minerals; sometime
                ore of lithium

 "mica"         A platy, flexible mineral which is a common constituent of igneous and
                metamorphic rocks

 "pegmatite"    Very coarse-grained igneous rock which commonly occurs as dykes in granite
                intrusions

 "petalite"     A lithium aluminium phyllosilicate mineral and an ore of lithium

 "schist"       A metamorphic rock with a platy or foliated texture

 "spodumene"    A lithium aluminium silicate mineral and an important ore of lithium

 "tailings"     Reject products from a mineral treatment plant

 "tantalum"     A metallic mineral used in a variety of alloys to add high strength, ductility
                and a high melting point

 "tourmaline"   Silicate mineral containing sodium, aluminium and boron

 

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