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Galileo Resources PLC - London-based mining company focused in the US and Africa - Receives final interpretation report on airborne geophysical survey on its targets at its Bulawayo gold project in Zimbabwe.
Says multiple gold targets have been identified.
‘Survey has successfully mapped magnetic greenstone lithologies, the most likely host for gold mineralisation in the region, together with geological structures, which typically act as conduits for mineralising fluids. These greenstones have remained unexplored, hidden beneath relatively shallow alluvial and Karoo sandstone cover,’ it adds.
Chair and Chief Executive Colin Bird adds: ‘Our mission was to examine the potential for a major gold system and evidence certainly points to the possibility of a large gold system discovery. The team is currently on the ground, prioritising targets for follow up and the main targets will be drilled as soon as possible.’
Current stock price: 1.29 pence, up 7.4% in London.
12-month change: up 4.8%
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