Business
Royalty and Exploration Agreement at Ferber
Royalty and Exploration Agreement at Ferber.
About this update from Galileo Resources Plc
[{"type":"text","content":"\n\n13 May 2025\n \nRNS Number:\nGalileo Resources Plc\n(\"Galileo\" or the \"Company\")\n \nRoyalty and Exploration Agreement to Advance Exploration at Ferber Property, Nevada\n \nThe Company has signed a royalty agreement with Bronco Creek Exploration Inc. (\"BCE\"), a wholly-owned subsidiary of EMX Royalty Corporation (\"EMX\"), to advance exploration at its' 100% owned Ferber copper-gold property (\"the Property\") in Nevada, USA by leveraging BCE's wide operational background and technical knowledge of the mineral potential of the district. \n \n \nHighlights\n \n· BCE will provide Galileo with exploration services, management and local technical knowledge based on extensive experience across the Property and similar projects in Nevada and adjoining states.\n \n· Galileo will fund a two-stage exploration programme with BCE providing technical input and oversight in return for up to a 1% Net Smelter Return (\"NSR\") royalty interest in the Property.\n \n· BCE will have the option to purchase a further 0.5% NSR interest for US$1m at any time prior to the completion of a Feasibility Study.\n \n· Work on the Phase 1 Target Generation programme is planned to commence imminently, to be followed by a Reconnaissance Drilling programme. The Phase 1 Target Generation programme will include structural mapping and modelling, alteration mapping, soil sampling and possible ground geophysics.\n \n· Initial data evaluation has identified potential structural targets associated with the Ferber intrusive complex and its margins which have been subject to widespread, small-scale historic production of polymetallic ores including copper, lead and silver and where previous drilling has intersected gold grades of 2.37g/t Au over 4.6m and 0.59g/t Au over 10.7m and copper grades of 0.83% Cu over 12.0m.\n \n· Anomalous levels of several other metals on the US critical minerals list have also been identified in historic work, including zinc, bismuth and arsenic which could add significant value to the Property.\n \n \n \nColin Bird Chairman & CEO said: \"We are pleased to have completed this royalty arrangement with Bronco/EMX, a company that we hold in high regard....