By Alois Vinga
GALILEO Resources PLC is pleased with its Bulawayo project prospects after sample indications showed strong anomalism for elements commonly accompanying gold.
The top miner said the Bulawayo gold project in Zimbabwe has delivered promising results from recent exploration activities.
Wide-spaced soil sampling along the northern part of the Bembeshi Trend has identified a 1.5-kilometre-long gold anomaly, with individual samples showing significant gold concentrations.
Following the success of the initial sampling, more detailed soil sampling has been completed and submitted for analysis.
“In the Queens West area, a ground magnetic survey identified seven priority targets, with five already followed up by soil sampling, mapping, and prospecting. Preliminary analysis shows strong anomalism for elements commonly accompanying gold, such as arsenic and antimony,” said the company.
Following the development, soil and rock samples from Queens West have been sent for laboratory gold analysis and due to positive results from both Bembeshi and Queens West areas, the company has extended its sample programs and deferred its proposed drilling in the first quarter.
This is meant to enable the testing of a wider range of targets as soon as additional sample results are available and processed.
Galileo’s chairman and chief executive Colin Bird said the development has bolstered the miner’s confidence.
“We are very pleased with the progress of our gold projects in Zimbabwe.
“A combination of the significant level of small-scale mining activity in the area, combined with the results of our own geophysics and geochemistry has added to our confidence and we look forward to drill testing the targets we have generated as soon as all results are to hand,” he said.
The miner also announced that it has moved a step closer to offloading a nearly 36% stake in the Glenover asset in South Africa, which is host to phosphates and rare earth metals.
Buyer Afrimat has been given the green light for the acquisition by the competition authorities meaning the deal now only requires a sign-off from the Department of Mineral Resources and Energy.
“The company anticipates that the above suspensive condition will be met by 31 July 2023,” investors were told.
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