Kamativi Lithium-Tin Project – Drill Assay Results

RNS Number : 2308H

Galileo Resources PLC

19 March 2024

Galileo Resources Plc
("Galileo" or "the Company")

Kamativi Lithium-Tin Project - Drill Assay Results

Galileo Resources plc ("Galileo "or the "Company") is pleased to inform shareholders regarding full Phase 1 drill assay results received for the Company's 80% owned Kamativi Lithium-Tin Project in Zimbabwe.

Highlights

· Full assay results now received from ALS Chemex for the 10-hole Phase 1 angled drilling programme at Kamativi over an area of about 1km x 0.5km show extensive lithium enhancement focussed on cross-cutting pegmatites/aplites and within mica-schist host rock.

· Initial in-country assays in the first hole, KSDD001 (refer to RNS's dated 21 August 2023 and 17 October 2023) were confirmed by definitive assays at the accredited ALS Global Laboratories, including a zone of 4m @ 1.03% Li2O from 35m depth in a discordant pegmatite within a wide 63.94m zone assaying 0.26% Li2O across both pegmatites and mica-schist host rock - see Table 1 and Figure 1 below.

· While tin was not specifically targeted in this drill phase, anomalous values were encountered ranging up to 0.19% Sn over 1.3m from 95.2m depth in hole KSDD005.

· Thin section and XRD mineralogical examination have confirmed the presence of spodumene mineralisation in the KSDD001 intercept, while further work is required to identify the nature of more widespread lithium mineralisation within the host rock.

· The Company believes that the drilling and mapping results indicate an extensive hydrothermal event at Kamativi which introduced lithium to the rock package over a substantial area.

· Geological mapping and prospecting have identified mineralisation/alteration in pegmatites over at least 1.5km strike length which has only been partially drill tested to date.

· Further exploration will focus specifically on cross-cutting pegmatite/aplite dykes as well as the source of the widespread lithium occurrences both within the current Target 1 and at four other identified target zones on the property.

Colin Bird Chairman and CEO said "This is our initial reconnaissance drilling programme which has yielded encouraging results peaking at 1.03% Li2O over 4 metres. An unusual feature of this discovery is the spread of highly anomalous lithium through the mica schist host rock as opposed to being solely contained within the pegmatite. We have no doubt that discordant pegmatites are the drivers to lithium content and our mapping programmes have located more discordant pegmatites than previously recognised. On the basis that the nearby Kamativi mine was a long-producing tin operation it comes as no surprise that we also see anomalous tin associated with these discordant pegmatites, in some cases coincident with lithium.

We are pleased with the outcome of the reconnaissance drilling programme and our ongoing field work. We plan to undertake further drilling for lithium and tin based on this Phase 1 drilling outcome and results of the mapping work.

In addition to the lithium/tin exploration, the Company has also undertaken exploration over targets in the vicinity of the historic Gwaii Copper Mine in the southern part of the licence, where new soil anomalies have been identified. These will be followed up concurrently with the lithium/tin programme."

Table 1 - Kamativi Phase 1 Drill Assay Averages >0.1% Li2O*
Hole_ID	From (m)	To (m)	Width (m)	Li2O%

KSDD001	12.30	76.24	63.94	0.26
Including	22.10	24.00	1.90	0.28
	25.00	26.00	1.00	0.29
	30.00	39.00	9.00	0.61
Including	35.00	39.00	4.00	1.03

KSDD001	45.00	57.17	12.17	0.36
KSDD001	61.00	65.59	4.59	0.27
KSDD001	83.28	110.28	27.00	0.12

KSDD002	40.00	52.00	12.00	0.12
KSDD002	57.50	59.00	1.50	0.14
KSDD002	77.00	80.00	3.00	0.15
KSDD002	84.00	99.05	15.05	0.16
Including	84.00	85.00	1.00	0.31

KSDD002	121.33	127.43	6.10	0.18
KSDD002	131.37	133.98	2.61	0.18

KSDD003	52.20	53.50	1.30	0.13
KSDD003	86.60	88.78	2.18	0.11

KSDD004	8.00	22.30	14.30	0.17
Including	14.28	15.74	1.46	0.25

KSDD004	17.00	22.30	5.30	0.27
KSDD004	32.70	51.00	18.30	0.18
Including	35.85	39.50	3.65	0.28

KSDD004	57.50	69.80	12.30	0.16
KSDD004	74.94	78.82	3.88	0.15

KSDD005	59.00	83.00	24.00	0.14
Including	77.07	80.00	2.93	0.27

KSDD005	93.00	95.20	2.20	0.13

KSDD006	19.00	23.50	4.50	0.13
KSDD006	33.00	37.00	4.00	0.19
KSDD006	49.89	55.79	5.90	0.17
KSDD006	58.88	61.95	3.07	0.15
KSDD006	66.22	85.00	18.78	0.15

KSDD007	84.00	85.31	1.31	0.11

KSDD008	102.00	110.00	8.00	0.12

KSDD009	45.68	55.95	10.27	0.16
Including	54.00	55.95	1.95	0.27

KSDD009	63.90	70.00	6.10	0.14

KSDD010	131.72	135.00	3.28	0.19
KSDD010	140.00	181.00	41.00	0.18
Including	140.00	143.05	3.05	0.29

KSDD010	145.10	145.50	0.40	0.29
KSDD010	147.83	152.28	4.45	0.30
KSDD010	154.68	158.28	3.60	0.27
KSDD010	159.11	159.77	0.66	0.28
KSDD010	162.30	163.00	0.70	0.25
KSDD010	184.77	189.00	4.23	0.12

* Downhole intervals - true widths not currently known

Figure 1 - Kamativi Drill Plan Showing Hole Locations and Selected Assay Intervals >0.1% Li2O

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 Roland Cornish/James Biddle	Tel +44 (0) 20 7628 3396
Novum Securities Limited - Joint Broker Colin Rowbury /Jon Belliss	+44 (0) 20 7399 9400
Shard Capital Partners LLP - Joint Broker Damon Heath	Tel +44 (0) 20 7186 9952

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 Terms


"aplite"	A fine-grained acid igneous rock with a characteristic texture.
"hydrothermal"	Descriptive of hot magmatic emanations rich in water.
"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.
"schist"	A metamorphic rock with a platy or foliated texture.
"spodumene"	A lithium aluminium silicate mineral and an important ore of lithium.
"XRD"	X-Ray Diffraction - a technique for identifying minerals by analysing X-rays passed through a rock.

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