Galileo starts reviewing data on newly acquired Zambian project
London-listed Galileo Resources has asked independent consultants Addison Mining Services and GeoQuest to start compiling historical drilling data on the Luansobe copper project, in Zambia.
Preliminary analysis suggests the deposit has a strike length of up to 3 km and extends to a depth of at least 1 250 m, with some exceptional drill intercepts, including 18.6 m grading 3.24% copper.
Once the consultancies have completed their review, Galileo will design a drill programme to upgrade the 1974 resource, which estimated that the deposit contains 20-million tonnes grading 2.51% copper.
The company has already prepared a shortlist of local drilling contractors and intends on pursuing two concurrent development options – a shallower copper oxide mine or a large-scale sulphide resource at depth.
“The initial review of the project suggests that potential exists for a large standalone mine since all data suggests that the body is open to depth with considerable strike. We will move aggressively forward with determining the tonnes and grade available for an oxide openpit since this gives us early access to cash flow.
“Reports do not mention cobalt, but the area is known for cobalt and we will be testing previous core for the presence of cobalt, which is becoming an important metal in the battery space,” CEO and chairperson Colin Bird comments.
