Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGalileo Resourc Share News (GLR)

Share Price Information for Galileo Resourc (GLR)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1.05
Bid: 1.00
Ask: 1.10
Change: 0.00 (0.00%)
Spread: 0.10 (10.00%)
Open: 1.05
High: 1.05
Low: 1.05
Prev. Close: 1.05
GLR Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Galileo preparing for Kamativi drill programme

Thu, 15th Jun 2023 11:53

(Sharecast News) - Galileo Resources announced on Thursday that preparations for a drill programme had started over the Kamativi lithium-tin target, where it announced the discovery of a previously-unknown lithium anomaly in soils and streams in March.

The AIM-traded firm said it had signed a contract has for a diamond drilling programme, following on quickly from the discovery of a substantial lithium anomaly in soils on the Kamativi licence EPO 1782, adjoining the historic Kamativi tin-tantalum mine in which Galileo does not have an interest, which contains a significant lithium tailings resource.

It said its Kamativi soil anomaly, which peaked at 1,000 parts of lithium per million, extended over a strike length of almost three kilometres - comparable to the footprint of the Arcadia Lithium Project near Harare, considered to be one of the world's biggest hard rock lithium resources.

A swarm of coincident pegmatite dykes had been mapped within the anomaly area, which would be targeted in the first phase of drilling, with around 1,000 metres of drilling planned in at least 10 holes.

Other anomalies would be evaluated and drill-tested in due course, including one area particularly anomalous in rare earth elements.

"We have quickly moved from the discovery of a widespread lithium soil anomaly to the commencement of a drill programme at Kamativi," said chairman and chief executive officer Colin Bird.

"The anomaly is substantial, and we believe it is highly significant that the target is comparable in size to other large lithium deposits including the 42.3Mt Arcadia deposit also located in Zimbabwe."

Bird said the company would quickly evaluate the target with an initial drill programme to test the stacked lithium-bearing pegmatites, with results to determine the extent of follow-up drilling.

"The programme will also assess tin prospectivity as the recent soil and rock chip programmes also identified areas anomalous in tin."

At 1026 BST, shares in Galileo Resources were up 5.96% at 1.19p.

Reporting by Josh White for Sharecast.com.

More News
27 Apr 2016 08:58

Galileo Uncovers Near-Surface Copper Mineralisation At Concordia

Read more
21 Apr 2016 13:16

Orogen Gold, Galileo Resources Sign Earn-In Deal For Silverton Project

Read more
13 Apr 2016 15:41

More positive results from Galileo's Concordia concession

(ShareCast News) - Galileo Resources talked up its Concordia concession in South Africa's Northern Cape on Wednesday, having received results from independent ore-body modelling on the area's West Whyte's prospect. The results followed the initial modelling results on the Wheel Julia and Koeelkop pr

Read more
29 Mar 2016 14:12

Galileo Resources reports good news at Concordia

(ShareCast News) - There was good news from Galileo Resources on Tuesday, with the firm reporting positive initial results from independent modelling on its Concordia concession in the Northern Cape of South Africa. The AIM-traded mining exploration and development company said the results followed

Read more
29 Mar 2016 12:46

Galileo Resources Says Independent Study Confirms Concordia Estimates

Read more
1 Mar 2016 15:12

Galileo Resources Raises GBP375,000 In Share Placing (ALLISS)

Read more
26 Feb 2016 16:06

Galileo Resources Pushes Back Fer-Min-Ore Deal Deadline

Read more
14 Jan 2016 10:47

Galileo Resources Finalises Concordia Joint Venture Agreement

Read more
15 Dec 2015 13:09

Galileo To Explore Silverton Project And Fast Track Work At Concordia

Read more
17 Nov 2015 11:19

Galileo Resources To Earn-In For 80% Stake In Concordia Copper Project (ALLISS)

Read more
19 Oct 2015 09:30

Galileo Resources extends US holdings for another year

(ShareCast News) - Galileo Resources has renewed most of its wholly owned Nevada claims for another year. The AIM listed mining company announced on Monday in a trading update that all but the Sand Springs claim have been renewed. It said it dropped the claim because it is close to a town and recre

Read more
19 Oct 2015 08:16

Galileo Resources Renews Most Of Its Nevada Claims For 12 Months

Read more
23 Sep 2015 15:06

AGM, EGM Calendar - Week Ahead

Read more
7 Sep 2015 16:32

Galileo Resources Loss Widens Amid Tough Commodities Conditions

Read more
28 Aug 2015 08:36

Galileo Resources Agrees To Extend Glenover Sale Deadline

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.