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Update on Drill Targeting at Ferber Property
Galileo Resources Plc has identified priority drill targets at its 100% owned Ferber Property in Nevada following a Phase 1 exploration program. The company will grant a 0.33% perpetual Net Smelter Return (NSR) Royalty to Bronco Creek Exploration Inc. (BCE) for their work. The targets, focused on skarn-hosted and porphyry-type mineralization over a 20 square kilometre area, were generated through new mapping, geochemical, and geophysical programs integrated with historical data. A reconnaissance drilling program of over 3,000 meters in up to eight holes is planned, with drilling anticipated to commence in the first half of 2026. Historical drill intercepts at the property include 12.2m at 0.83% Cu and 10.7m at 0.53g/t Au, with past mining at the Martha Washington mine reporting averages of 6% Cu, 16% Pb, and 14 oz/ton Ag. Disclaimer*
About this update from Galileo Resources Plc
2 March 2026 Galileo Resources Plc ("Galileo" or the "Company") Update on Drill Targeting at Ferber Property, Nevada Galileo Resources Plc ("Galileo" or "the Company") Phase 1 exploration and data integration programme has generated a number of priority drill targets at its' 100% owned Ferber Property ("the Property") under the terms of a Royalty and Exploration Agreement ("the Agreement") with Bronco Creek Exploration Inc. ("BCE"), a wholly-owned subsidiary of Elemental Royalty Corporation (TSX-V: ELE, NASDAQ: ELE). Highlights · The BCE team has compiled a Targeting Report setting out a series of priority drill targets at the Ferber project as envisaged under the terms of the Agreement with Galileo and in return Galileo will grant a 0.33% perpetual NSR Royalty. · The targets were generated through new mapping, geochemical and geophysical programmes on the ground integrated with an extensive historic database, leveraging BCE's wide experience over mineral deposits in the Nevada-Utah region. · Mapping and rock dating at Ferber has identified Eocene igneous rocks associated with the mineralising hydrothermal system, analogous in age to the large historic Battle Mountain deposit complex and the Carlin gold trend deposits in Nevada. · Four target areas have been selected focussed on skarn-hosted and porphyry-type mineralisation over a 20 square kilometre area, divided into two priority categories. · The proposed Reconnaissance Drilling programme incorporates over 3,000m of core drilling in up to eight holes testing high and medium priority targets. · Historic drill intercepts included 12.2m @ 0.83% Cu and 10.7m @ 0.53g/t Au, while periodic mining included the Martha Washington mine where production was reported to average 6% Cu, 16% Pb and 14 oz/ton Ag. · The Company will now initiate the process of permitting, logistical preparation and obtaining quotes from suitable contractors with the aim of commencing drilling in the first half of 2026. Colin Bird Chairman & CEO said: "The results or our recently completed exploration programme, assisted by BCE, has been very encouraging, generating a number of strong drill targets. We intend to pursue these targets in the coming months on a rec...
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