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Galileo Resources posts conceptual resource estimate for Star Zinc

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Galileo Resources posts conceptual resource estimate for Star Zinc

An independent estimate of grades and tonnage was completed for Galileo Resources PLC's 85%-owned Star Zinc property in Zambia using data from a recent diamond drill program.

The company said June 4 that the conceptual resource estimate defined a total of 485,000 tonnes grading an average 15.4% zinc using a nominal 3% zinc cutoff, noting that it is not a formal resource estimate and there is no guarantee of one.

Compared to the conservative case in a 2015 conceptual model, the new estimate represents an 80% increase in tonnage and a 14% decrease in grade.

Galileo Resources also reported that the analysis indicated a core of high-grade material in both the east and west limbs of the deposit as well as the potential to extend mineralization to the east-northeast and southeast.

The company plans to evaluate data from the recent drill program ahead of exploring for a deeper feeder source for mineralization.

A conceptual study completed in 2017 for Star Zinc was based on a resource of 250,000 tonnes grading 20% zinc.