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
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Galileo Resourc (GLR)