Galileo Resources PLC - mining company focused on Zambia, Zimbabwe, Botswana, South Africa and the US - Says the first two holes of the recently started drill programme over the Kamativi lithium-tin target in Zimbabwe have intersected multiple pegmatite dykes, some over "substantial" widths. Galileo plans to send split drill core for indicative lithium analysis to a Zimbabwe laboratory, followed by full multielement analysis at the ALS laboratory in Johannesburg.
"We are pleased with the thickness of the pegmatite intersections and are highly encouraged by the low potassium/rubidium ratios which academia and past practice shows to be often strongly indicative of lithium presence. We are preparing to dispatch some of the core to get an early indication of lithium content as we continue with the drilling programme nearby and on surrounding anomalies," comments Chair & Chief Executive Colin Bird.
The Kamativi licence EPO 1782 covers an area of 520 square kilometres in western Zimbabwe. Galileo has an option to earn an 80% interest through spending a combined total of USD1.5million on exploration and evaluation in the project area and over the Bulawayo gold-nickel property by July 21, 2024.
Current stock price: 1.05 pence, up 2.0% in London on Monday morning
12-month change: up 12%
By Heather Rydings, Alliance News senior economics reporter
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Galileo Resourc (GLR)