Business
Star Zinc Issues JORC 2012 Technical Report
Star Zinc Issues JORC 2012 Technical Report.
About this update from Galileo Resources Plc
[{"type":"text","content":"\n \nRNS Number : 8199J Galileo Resources PLC 21 August 2019 \n\n \nFor immediate release \n21 August 2019\nGalileo Resources Plc\n(\"Galileo\" or \"the Company\")\nStar Zinc Issues JORC 2012 Technical Report and Inferred Resource Estimate \nFurther to Galileo's previous announcement 26 June 2019 on its completion of an initial inferred resource estimate for the Star Zinc Project (the \"SZ Project\") located near Lusaka, Zambia, it is pleased to announce the issue of the final Technical Report and Inferred Mineral Resource Estimation (\"MRE \") prepared by Addison Mining Services (\"AMS\") in accordance with JORC 2012. This MRE report supports the previously reported initial findings of approximately 500,000 tonnes at 16% Zinc for 77,000 tonnes of contained metal above a cut-off grade of 2% Zinc. This includes approximately 340,000 tonnes at 21% Zinc for 72,000 tonnes of metal above a cut-off grade of 8%. The Company has a 95% beneficial interest in the Project and the Zambian government a 5% interest.\nTo view the MRE report with the illustrative diagrams and JORC code 2012 Table 1 please use the following link: https://www.galileoresources.com/\nHighlights \n· Galileo completes the MRE in accordance with JORC 2012 for its Star Zinc project (Licence tenure 19653-HQ-LEL). \n \n· The MRE, using a preliminary open-pit optimisation method confirms a high grade hypogene Inferred zinc (Zn) resource with reasonable prospects of economic extraction of approximately 500,000 (net attributable 475,000) tonnes at 16% Zn for 77,000 (net attributable 73,150) tonnes of contained metal above a cut-off grade of 2% Zn. This includes approximately 340,000 tonnes at 21% Zn for 72,000 tonnes of metal above a cut-off grade of 8% Zn. (\n \n· The MRE containing a gross estimate of 77,000 tonnes of zinc metal, is suitable for potential direct shipping material for ROM to the zinc process/refinery (Sable) facility at Kabwe, located approximately 120km north of the Project.\n \n· The MRE model defines a clear boundary between a high-grade (>8% Zn) domain and a low-grade (<8% Zn) zone.\n \n· All of the high-grade resource, +8% Zn blocks, fall within the preliminary pit sh...