Galileo Resources, a company listed on the AIM Market of the London Stock Exchange, has discovered several substantial gold targets around the Queen’s Mine located near Bulawayo, Zimbabwe. The company also identified a new gold-in-soil anomaly covering more than five square kilometres southeast of the Queen’s Mine with further anomalies to the southwest.
Galileo’s CEO, Colin Bird, said the survey successfully defined targets with gold associated with underlying structures that extend from known mineralisation. Bird said:
The recent completion of a gold-in-soil geochemical survey in the prolific Queen’s area has been highly successful in that it has clearly defined a number of targets where we have gold associated with underlying structures that extend from known mineralisation that has sustained both commercial and artisanal mining. Our intention now is to prioritise anomalies with a view to commencement of drill-testing by the end of the third quarter 2023.
The company’s priority now is to commence drill-testing by the end of the third quarter of 2023.
Two weeks ago, Galileo Resources began drilling at Kamativi target in Zimbabwe after finding an unusual occurrence of lithium in soil and streams. The size of the deposit is similar to that of Arcadia deposit in Zimbabwe. The first drilling will test the areas with high levels of lithium and check if there is a chance of finding tin. Kamativi covers an area of 520 sq km, and Galileo can earn an 80% interest by spending US$1.5m on exploring and evaluating the area by July 21, 2024.
Galileo Resources has also taken a 51% stake in the Shinganda copper-gold project in Zambia for US$500,000. The company will fund and manage any further drilling, metallurgical and scoping studies to complete a feasibility study, according to the joint venture’s terms.
Source Pindula News
