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Share Price: 1.05

Bid: 1.00

Ask: 1.10

Change: 0.00 (0.00%)

Spread: 0.10 (10.00%)

Open: 1.05

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IN BRIEF: Galileo starts preparing for Kamativi drill programme

Thu, 15th Jun 2023 11:39

Galileo Resources PLC - Mining company focused on Zambia, Zimbabwe, Botswana, South Africa and the US - Starts preparations for Zimbabwean Kamativi lithium-tin project drilling programme. Says the Kamativi soil anomaly area will be targeted in the first phase of drilling, with around 1,000 metres of drilling planned in at least 10 holes. Says the programme will also assess tin prospectivity. Adds other anomalies will be evaluated and drill-tested in due course.

Chair & CEO Colin Bird says: "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 42.3 million tonne Arcadia deposit also located in Zimbabwe. We will quickly evaluate the target with an initial drill programme to test the stacked lithium-bearing pegmatites and results will determine the extent of follow up drilling."

Current stock price: 1.19 pence, up 5.9%

12-month change: up 22%

By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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Galileo shares up on latest work at Kamativi

(Sharecast News) - Galileo Resources updated the market on the reconnaissance mapping and sampling programme completed over the Kamativi Lithium Project in southwest Zimbabwe on Thursday.

2 Dec 2022 22:03

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23 Nov 2022 16:18

Galileo completes drilling programme at Luansobe

(Sharecast News) - Galileo Resources announced completion of the Luansobe Copper Project drilling programme on Wednesday, describing it as an "important step" towards a new mineral resource estimate.

23 Nov 2022 14:24

IN BRIEF: Galileo Resources shares up on drilling results at Luansobe

Galileo Resources PLC - mining company focused on US and Africa - Says delineation drilling at Luansobe copper project, located in Zambia, has been completed. Says it has successfully identified wide zones of moderate grade, near-surface copper mineralisation, potentially offsetting open pit pre-stripping costs. Galileo finds up to 3.51% copper at Luansobe, at hole LUDD014.

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26 Aug 2022 10:43

IN BRIEF: Galileo Resources finds nickel targets at Bulawayo, Zimbabwe

Galileo Resources PLC - mining company focused on US and Africa - Finds potential nickel targets at Bulawayo gold project in Zimbabwe.

16 Aug 2022 17:55

IN BRIEF: Galileo Resources survey results finds gold targets

Galileo Resources PLC - London-based mining company focused in the US and Africa - Receives final interpretation report on airborne geophysical survey on its targets at its Bulawayo gold project in Zimbabwe.

10 Aug 2022 17:00

Galileo agrees to buy another 28pc of BC Ventures

(Sharecast News) - Galileo Resources updated the market on the agreement between BC Ventures and Cordoba Investments to acquire a 51% interest in BC Ventures on Wednesday afternoon, which was assigned to the company on 4 March.

10 Aug 2022 14:38

IN BRIEF: Galileo Resources increases interest in Zimbabwe projects

Galileo Resources PLC - London-based mining company focused in the US and Africa - Agrees to acquire a further 29% stake in BC Ventures Ltd, which owns "highly prospective" Kamativi lithium project in southwest Zimbabwe, as well as two gold licenses at the Bulawayo gold project. Galileo will issue 50.0 million shares at 1.2 pence each, for GBP600,000, to fund the purchase, which is expected to complete this month. The shares are at a 4.4% premium to Monday's closing price of 1.15p, and subject to a 12-month lock-up agreement. This brings Galileo's total stake in BC Ventures to 80%.

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