TIDMGLR
RNS Number : 9756J
Galileo Resources PLC
21 August 2023
Galileo Resources Plc
("Galileo" or "the Company")
Update on Lithium Discovery - Kamativi Project
Following the recent announcement concerning the lithium
discovery on Galileo's Kamativi licence in Zimbabwe, the Company
considers it prudent to detail the history, work completed to date
and rationale for drilling together with a licence-wide technical
review for the benefit of shareholders. This announcement
incorporates the drilling results announced on 10 August 2023.
Colin Bird Chairman and CEO said " Following our exciting
discovery we thought it prudent and informative to advise the
market and shareholders of the underlying history and our strategy
towards the Kamativi lithium and tin project. This initially
reported lithium discovery has given us much encouragement and
provided the impetus to increase the allocation of drilling metres
to allow for definition drilling of the mineralisation. This
demonstrates that our team has the ability to discover and
thereafter implement protocols and regimes consistent with best
practice. We look forward to presenting further results in
accordance with the aforementioned protocols as the Project evolves
and we will keep shareholders abreast of any material change should
it arise".
Background and Basis for Exploration Strategy
-- The Kamativi district is well-known for tin and latterly the
ongoing development of a substantial lithium mining and processing
operation at the former Kamativi tin mine.
-- Late-stage pegmatites mined on the neighbouring Kamativi mine
are found in the Kamativi Formation hosted in a granitic terrane,
mostly steeply dipping.
-- This same highly prospective pegmatite-bearing formation
extends along strike to the southwest and northeast into Galileo's
exploration licence from the Kamativi mine licence.
-- Exploration is guided by a wealth of external research
underpinned by current work completed by CSA Global consultants
('CSA') on behalf of the Company looking specifically at the
results of pXRF analyses for lithium indicator minerals (lithium
analysis requires follow-up laboratory testing) on stream sediment,
rock chip and soil samples collected by Galileo and the
corresponding independent external certified analyses undertaken by
ALS Laboratories. CSA concluded that "the laboratory data is of
high quality and has adequate detection limits for all elements and
the suite of elements analysed is fit for purpose".
-- Research* notes that lithium and tin mineralisation is
typically found in the highly fractionated LCT pegmatites that are
enriched in Li, Cs, Ta, Sn, and Rb. Such fractionated lithium -
tin-rich pegmatites are found on the Galileo Licence and extend
through to the neighbouring Kamativi mine licence where they were
selectively mined for tin generating a large tailings resource rich
in lithium with a reported average grade of 0.58% Li2O. *(Ref: R.A
Shaw et al, 2022: The magmatic - hydrothermal transition in lithium
pegmatites: petrographic and geochemical characteristics of
pegmatites from the Kamativi area, Zimbabwe).
-- The lithium minerals identified at the Kamativi mine include
spodumene, petalite and amblygonite. Late-stage pegmatites in the
Kamativi Formation hosting this mineralisation pass through the
western and eastern parts of the Galileo licence and the discovery
of extensive lithium soil anomalies based on accredited independent
assays may indicate the presence of some or all of these lithium
minerals in pegmatites delineated within the Galileo licence.
-- CSA Global during their independent assessment of all
available data collected by Galileo over the Licence note that low
K/Rb ratios coincide with areas of highest lithium anomalism which
are associated with the most fractionated rocks - "rendering these
areas most prospective". This is aligned with independent research
that also identifies the significance of low K/Rb ratios as an
indicator of lithium potential.
-- Galileo exploration has identified the western part of the
Licence as being characterised by low K/Rb ratios (acknowledged by
CSA) and anomalous in Li and Sn whilst the eastern part of the
Licence is richer in rare earth elements ('REE') and Ta - Sn
anomalies, although some Li potential also exists.
-- Within the western anomalous area CSA note that individual
soil samples above/in vicinity of mapped pegmatites show very high
concentrations of several of the key pathfinder elements, and some
of those coincide with rock-chip samples characterised by low K/Rb
and/or high Sn.
-- The eastern part of the Licence hosts soils that are somewhat
less enriched in late-stage pegmatite pathfinder elements but there
are areas strongly enhanced in REEs, including heavy REEs as
determined by laboratory analyses.
Current Drill Programme
-- To date 6 holes have been drilled for over 700m of diamond
drilling. Core recoveries are good, and drilling is producing high
quality core that can be logged, split and sampled.
-- All core is initially tested by pXRF specifically for
measurement of K/Rb ratios to guide further exploration drilling. A
quarter core sample is collected and sent to an accredited
Zimbabwean laboratory for lithium analysis. A further half core
sample will be sent to a separate accredited ALS Global assay
laboratory in South Africa for multi-element analysis including
lithium assay.
-- To date in the first six holes have intersected approximately
111 metres downhole width of pegmatites with an appropriately low
K/Rb ratio with the potential to host lithium mineralisation.
-- The assay summary for the lithium intercept in hole BSDD001
(drilled at -50 degrees towards north) is as follows:
Summary of Main Lithium Drill Intercept
in Hole KSDD001
Hole Depth Depth Interval Li(2)
No from (m) to (m) (m)* O %
---------- -------- --------- ------
KSDD001 30.0 39.0 9.0 0.56
---------- -------- --------- ------
Incl. 35.0 39.0 4.0 0.99
---------- -------- --------- ------
Incl. 36.0 37.0 1.0 2.04
---------- -------- --------- ------
* True width estimated to be about two thirds of downhole
width
-- Preparation of samples is under way for detailed analysis of
the pegmatite minerals that are generating the lithium-rich
anomalies to determine the specific lithium minerals present. This
will initially involve thin section and other mineralogical work
being undertaken in Zimbabwe and elsewhere by recognised
expertise.
-- Follow-up work is also planned in the northeast of the
licence area to test in more detail the REE content of pegmatites
where early indications from soil and stream sediment sampling
suggest potential for economic grades of highly sought after
specialist rare earth elements.
-- Drilling has intersected significantly more pegmatite that
was originally anticipated, and this has brought some areas of the
Licence thought to be less prospective back into the spotlight as
possible additional hosts for lithium (and tin - REE)
mineralisation.
-- Tin mineralisation up to 0.4% Sn, often found in association
with lithium, is present in rock chip samples on the Galileo
Licence and was the original reason for the development of the
nearby Kamativi mine. Whilst initial pXRF analysis of Galileo's
drill core indicates anomalous tin values associated with some of
the pegmatite intervals, full assessment of the tin potential
awaits receipt of laboratory analyses.
-- Additional drilling has been approved for Kamativi based on
the recent success with the aim of completing definition drilling
of mineralisation broadly defined to date. The total additional
meterage will be guided by the results achieved with each new
drillhole.
Data QAQC
-- Anomalies derived from pXRF soil and stream sediment sampling
are found to be coincident with pXRF rock chip anomalies that in
turn are coincident with ALS Global analyses (certified
laboratory). CSA notes that laboratory data is of high quality and
has adequate detection limits for all elements and the suite of
elements analysed is fit for purpose.
-- Galileo has taken samples of recent drill core and had these
analysed for lithium at Performance Laboratories Zimbabwe (PVT)
Limited ('Performance'), with insertion of certified reference
material to check on the accuracy of the results. Based on limited
work to date the laboratory results are considered satisfactory.
Performance is an accredited laboratory (accreditation No: TEST - 5
0070) tested according to SADCAS accreditation and in accordance
with the recognised international standard ISO/IEC 17025:2017 with
the accreditation valid from 3 June 2022 and extending to 2 June
2027. Performance is accredited specifically to analyse for lithium
gold, cobalt, base metals and PGMs. Core samples will also be check
assayed for lithium and associated elements at the ALS Global
laboratory in Johannesburg.
Technical Sign-Off: Technical information in this announcement
has been reviewed by Edward (Ed) Slowey, BSc, PGeo, Technical
Director of Galileo. Mr Slowey is a geologist with more than 40
years' relevant experience in mineral exploration and mining, a
founder member of the Institute of Geologists of Ireland and is a
Qualified Person under the AIM rules. Mr Slowey has reviewed and
approved this announcement.
You can also follow Galileo on Twitter: @GalileoResource
For further information, please contact: Galileo Resources
PLC
Colin Bird, Chairman Tel +44 (0) 20 7581
4477
Beaumont Cornish Limited - Nomad Tel +44 (0) 20 7628
Roland Cornish/James Biddle 3396
--------------------
Novum Securities Limited - Joint Tel +44 (0) 20 7399
Broker 9400
Colin Rowbury /Jon Belliss
--------------------
Shard Capital Partners LLP - Tel +44 (0) 20 7186
Joint Broker 9952
Damon Heath
--------------------
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK Domestic Law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR").
Technical Glossary
"amblygonite" A fluorophosphate mineral, composed of lithium, sodium, aluminium, phosphate, fluoride and
hydroxide.
"dyke" A tabular intrusive rock cross-cutting the host strata at a high angle.
"felspar" A group of silicate minerals (potassium feldspar, KAlSi(3) O(8) ; albite, NaAlSi(3) O(8) ;
anorthite, CaAl(2) Si(2) O(8) ), which are the main components of acid, intermediate and basic
igneous rocks.
"fractionated" Divided into fractions or components.
"garnet" A silicate mineral, commonly brown or red in colour, found in igneous and metamorphic rocks.
"granite" A medium to coarse grained granular acid intrusive rock.
"LCT" Lithium-caesium-tantalum.
"mica" A platy, flexible mineral which is a common constituent of igneous and metamorphic rocks.
"pegmatite" Very coarse-grained igneous rock which commonly occurs as dykes in granite intrusions.
"petalite" A lithium aluminium phyllosilicate mineral and an ore of lithium.
"pXRF" A hand-held instrument for mineral analysis by X-Ray fluorescence.
"quartz" A mineral composed of silicon dioxide, SiO2.
"spodumene" A lithium aluminium silicate mineral and an important ore of lithium.
"tourmaline" Silicate mineral containing sodium, aluminium and boron.
Abbreviations
Cs Caesium
K Potassium
Li Lithium
Rb Rubidium
Sn Tin
Ta Tantalum
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