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Shinganda Project Update
Shinganda Project Update.
About this update from Galileo Resources Plc
[{"type":"text","content":"\n\n24 June 2024\n \nGalileo Resources Plc\n(\"Galileo\" or \"the Company\") \n \nShinganda Update\nPlanning for Phase 3 drill programme targeting a preliminary Mineral Resource \n \nGalileo Resources plc (\"Galileo \"or the \"Company\") is pleased to inform shareholders of a decision to commence a Phase III drill programme to validate the Board's current view that near-surface copper - gold mineralisation occurs along the Shinganda Fault Splay over a strike length of potentially more than 4km offering scope for the development of a preliminary Mineral Resource at the Shinganda Project Copper-Gold Project, Zambia (\"Project\").\n \nPhase I (results announced on 18 January 2023) and the recently completed Phase II drill programmes have confirmed the presence of copper - gold mineralisation associated with major regional and more localised structures. Mineralisation is found in vein and alteration assemblages. Higher copper and gold grades were found at shallow depths, where primary (hypogene) mineralisation was subjected to supergene enrichment.\n \nHighlights\n \n· Evidence from two phases of drilling indicate mineralisation at grades of between 1.0 and 1.5% CuEq at shallow depths over notable package widths.\n· Phase III drilling will target a projected supergene high-grade, broadly drill-defined zone extending for approximately 4km with an anticipated package width of mineralisation of approximately 30m extending to a vertical depth of approximately 70m.\n· Supergene enrichment is broadly associated with a coincident magnetic anomaly. However, historic drilling of the same supergene feature where a weak magnetic signature is present also intersected notable copper values (Figure 2).\n· A further 4km or more of Shinganda Fault Splay will also be tested where there is weak to no underlying magnetic signature potentially extending the strike length of the Project to more than 8km in total. \n· Phase I drilling primarily targeted the prospective near surface hematite-rich zone that will form the focus of the Phase III programme.\n· Phase II drilling that comprised a total of 2,379.1m and 13 drill holes was focused on testing deeper targets including breccias and magnetic an...