Galileo Announce Star Zinc Project Drilling Results

- May 14th, 2018

Galileo Resources has announced results for the final eight diamond drill holes of its 26-hole drilling programme on the Zambian Star Zinc project, in which the Company has an 85 percent interest. These holes were drilled in the southern periphery of the historic mineralized zone.

Galileo Resources (LSE:GLR) has announced results for the final eight diamond drill holes of its 26-hole drilling programme on the Zambian Star Zinc project, in which the Company has an 85 percent interest. These holes were drilled in the southern periphery of the historic mineralized zone.

As highlighted in the press release, four holes, DDH020 and D DHs 024 to 026 show medium to high grade zinc mineralization from 4.72 percent zinc to 15.4 percent zinc, including DDH020 which shows 6.21 percent zinc over 24 metres width downhole (from 31 to 55m downhole) including 14.3 percent zinc over 8m width. DDH024 shows 5.02 percent zinc over 26m from near-surface (3 m) including 3m assaying 10.80 percent zinc from 17 to 20 m. DDH025 shows 8.29 percent zinc over 29m from surface, including 13m assaying 15.4 percent zinc.

As quoted in the press release, chief executive officer of Galileo Resources, Colin Bird said:

“This final batch of results support our view that the project will be boosted by peripheral, at or near-surface, mineralized karsts and zinc oxides. At a cut-off grade of 3 percent zinc, this would potentially require little or no blasting. We have engaged an  independent geological consultant to develop, amongst other things, a conceptual grade-tonnage estimate based on differentiation of the material into medium (3-20 percent zinc) and high grade (>20 percent zinc) domains. We expect from this exercise and further study to be able to direct the next exploration and drilling programme with a view to further increasing the size of the deposit and to generate a compliant maiden resource estimate To complement this, we are currently evaluating the results from a collection of physical core rock property measurements in relation to potential geophysical exploration methods in order to assess suitability and determination of the most optimal exploration drill-targeting tool. We will report on the modelling results, which are expected at the beginning of June.”

Click here to view the full Galileo Resources (LSE:GLR) press release.

Zinc Prices Have Hit a Decade High


See why zinc prices might rally in 2018 in our free report


Tags

Leave a Reply

Your email address will not be published. Required fields are marked *