Business
Exploration Update at Shinganda, Zambia
Exploration Update at Shinganda, Zambia.
About this update from Galileo Resources Plc
[{"type":"text","content":"\n\n20 September 2023\n \nGalileo Resources Plc\n(\"Galileo\" or \"the Company\") \n \nGeophysical Review and Phase 2 Drill Planning at Shinganda, Zambia\n \nGalileo Resources plc (\"Galileo \"or the \"Company\") is pleased to inform shareholders of the results of a licence-wide geophysical review and planning for a Phase 2 drilling programme to test multiple targets over the Shinganda Project Copper-Gold Project, Zambia (\"Project\"). This follows the Company's decision to exercise its option to acquire an initial 51% interest in the Project as announced on 27 June 2023.\n \nHighlights\n \n· A study commissioned by the Company of historic airborne and ground geophysical survey data, combined with Galileo's own geophysical surveys, soil sampling and prospecting has unlocked the structural framework of the property and highlighted potential targets for immediate drill testing.\n \n· Among the conclusions of the geophysical study were:\n \no High resolution aeromagnetics reveal a prospective structural setting with three large clusters of intense iron alteration towards the west.\no Historic drilling within and close to iron alteration clusters has returned ample evidence of wide-spread and, in parts, intense iron-alteration in the form of hematite, magnetite and lesser pyrite. These boreholes were never assayed.\no At the Shinganda copper-gold prospect a higher order splay fault coming off the Main Fault Zone can be clearly identified in the aeromagnetic data and probably acts as the primary control to the copper-gold mineralisation.\no Soil anomalies >285 ppm Cu occur both along the Shinganda Splay Fault and over iron alteration Cluster A which are prospective mineralisation targets for copper-gold in the light of an IOCG setting and a new structural understanding, and warrant follow-up drilling.\no Several strong, historic IP chargeability anomalies over the iron alteration clusters have been insufficiently drill tested to date.\n \n· Up to 2,000m of diamond drilling is planned to commence shortly to test multiple shallow copper-gold targets along, and parallel to, the Shinganda Splay Fault and to test the IOCG deposit potential related to the iron alteration clusters and IP targets highlighted by ...