Galileo Resources PLC – a mining company focused on Zambia, Zimbabwe, Botswana, South Africa, and the United States – provides an update on the Kamativi license in Zimbabwe. It indicates that to date, six boreholes have been drilled on the license, totaling over 700 meters of diamond drilling. The boreholes intersected pegmatites with a width of approximately 111 meters and a “sufficiently low” potassium/rubidium ratio, potentially containing lithium mineralization. Follow-up work is also planned in the northeast of the license area to further test the rare earth element content of the pegmatites. The company states that the drilling has intersected “many” more pegmatites than expected and adds that this has “highlighted” certain areas of the license that were considered less promising.
Current share price: 1.11 pence
12-month variation: down 18%.
By Heather Rydings, Senior Economic Journalist at Alliance News
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