Star Zinc drilling, Zambia Disclaimer THIS DOCUMENT (DOCUMENT) IS - - PowerPoint PPT Presentation
Star Zinc drilling, Zambia Disclaimer THIS DOCUMENT (DOCUMENT) IS - - PowerPoint PPT Presentation
Star Zinc drilling, Zambia Disclaimer THIS DOCUMENT (DOCUMENT) IS STRICTLY CONFIDENTIAL AND IS BEING PROVIDED TO YOU SOLELY FOR YOUR INFORMATION. THE DISTRIBUTION OF THIS DOCUMENT MAY BE RESTRICTED BY LAW. ACCORDINGLY, THIS DOCUMENT MAY NOT
Disclaimer
THIS DOCUMENT (“DOCUMENT”) IS STRICTLY CONFIDENTIAL AND IS BEING PROVIDED TO YOU SOLELY FOR YOUR INFORMATION. THE DISTRIBUTION OF THIS DOCUMENT MAY BE RESTRICTED BY LAW. ACCORDINGLY, THIS DOCUMENT MAY NOT BE DISTRIBUTED IN ANY JURISDICTION EXCEPT IN ACCORDANCE WITH THE LEGAL REQUIREMENTS APPLICABLE TO SUCH JURISDICTION. IN PARTICULAR, YOU MAY NOT DISTRIBUTE, FORWARD, REPRODUCE, TRANSMIT OR OTHERWISE MAKE AVAILABLE THIS DOCUMENT OR DISCLOSE ANY INFORMATION CONTAINED IN IT OR CONVEYED DURING ANY ACCOMPANYING ORAL PRESENTATION (THE “INFORMATION”) , IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR IN ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL. FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF APPLICABLE SECURITIES LAWS. PERSONS INTO WHOSE POSSESSION THIS DOCUMENT COMES ARE REQUIRED BY THE COMPANY TO INFORM THEMSELVES ABOUT AND TO OBSERVE ANY SUCH RESTRICTIONS. NEITHER GALILEO RESOURCES PLC (“THE COMPANY”) NOR ITS DIRECTORS, OFFICERS, EMPLOYEES, RESPECTIVE AFFILIATES, AGENTS OR ADVISERS ACCEPT ANY LIABILITY TO ANY PERSON IN RELATION TO THE DISTRIBUTION OR POSSESSION OF THIS DOCUMENT IN OR FROM ANY JURISDICTION. The Document and the Information have been prepared by or on behalf of, and is the sole responsibility of, the Company. The Information is being provided to you during an oral presentation and is not a complete record of that discussion. The Information does not purport to be full or complete and does not constitute investment advice. No representation or warranty, express or implied, is given by or on behalf of the Company, its affiliates, agents or advisers or any other person as to, and no reliance may be placed for any purposes whatsoever on, the adequacy, accuracy, completeness, fairness or reasonableness of the Information. None of the Information has been independently verified by the Company, its affiliates, agents or advisers or any other person, and no liability or responsibility whatsoever is accepted by any of them for any loss howsoever arising, directly or indirectly, from any use of the Information or otherwise arising in connection therewith. The Company, its affiliates, agents and advisers do not undertake and are not under any duty to update this Document or to correct any inaccuracies in the Information which may become apparent, or to provide you with any additional information. The sole purpose of this Document is to provide background information to assist you in obtaining a general understanding of the business of the Company. This Document does not constitute an offer to sell, or a solicitation of an offer to buy or subscribe for, securities of the Company in any jurisdiction. It is not intended to provide the basis of any investment decision, financing or any other evaluation and is not to be considered as a recommendation by the Company, its affiliates, agents or advisers that any recipient of this Document purchase or subscribe for any securities in the Company. Each recipient of this Document contemplating any investment in the Company is required to make and will be deemed to have made its own independent investigation and appraisal of the business, results of operations, financial condition, liquidity, performance and prospects of the Company and the merits and risks of an investment in the securities of the Company. The delivery of this Document at any time does not imply that the information in it is correct as of any time after its date, or that there has been no change in the business, results of operations, financial condition, liquidity, performance and prospects of the Company since that date and no obligations is accepted to update any such information after the date of the Document. No person affiliated with the Company, their directors, officers, employees, respective affiliates, agents or advisers has been authorised to give any information or to make any representation not contained in this Document and, if given or made, such information or representation must not be relied upon. The securities of the Company have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act") and may not be offered, sold, transferred or delivered, directly or indirectly, within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. In the United Kingdom, this document is directed solely at persons having professional experience in matters relating to investments and who are investment professionals as specified in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Financial Promotions Order"), to persons who are high net worth companies, unincorporated associations or high value trusts as specified in Article 49(2) of the Financial Promotion Order (all such persons together being referred to as "relevant persons"). In addition to the foregoing restrictions, this document is made and directed
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This Document may contain forward-looking statements, including, but not limited to, statements as to the Company’s business, results of operations, financial condition, liquidity, performance and prospects and trends and developments in the markets in which the Company operates. Forward-looking statements include all statements other than statements of historical fact and in some cases may be identified by terms such as “targets”, “believes”, “expects”, “anticipates”, “estimates”, “aims”, “intends”, “will”, “may”, “would”, “could” or, in each case, their negative or comparable terms. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances that may or may not occur. A number of factors, which may be beyond the control of the Company, its affiliates, agents and advisers, could cause actual results and developments to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements in this Document reflect the Company’s view with respect to future events as at the date hereof and are subject to known and unknown risks, uncertainties and assumptions relating to the Company’s
- perations, results of operations, financial condition, growth, strategy, liquidity and the markets in which the Company operates. No assurances can be given that the forward-looking statements in this
Document will be realised. Forward-looking statements are not guarantees of future performance. The Company, its affiliates, agents and advisers undertake no obligation and do not intend to update any forward-looking statements in this presentation to reflect events or circumstances after the date of this presentation.
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3 Colin Bird Chief Executive Officer & Chairman Colin is a Chartered Engineer and has a Diploma in Mining Engineering, is a Fellow of the Institute of Materials, Minerals and Mining and is a certified mine manager both in the UK and in South Africa. The formative part of his career was spent with the National Coal Board in the UK and thereafter he moved to the Zambia Consolidated Copper Mines and then to South Africa to work in a management position with Anglo American Corporation. On his return to the UK he was Technical and Operations Director of Costain Mining Limited, which involved responsibility for gold mining operations in Argentina, Venezuela and Spain. Thereafter he acquired Lion Mining Finance and founded several successful mining companies. Andrew Francis Sarosi Executive Director - Finance & Corporate Development Technical Director Andrew holds a B.Sc. Metallurgy and M.Sc. Engineering, University of Witwatersrand and is a member of The Institute of Materials, Minerals and Mining. He has more than 10 years corporate and 30 years operational experience. He is a director of AIM listed Jubilee Platinum plc, for which he was finance director from January to July 2010. He held senior and advisory positions with Consolidated Gold Fields (UK), Wheal Jane Tin Copper Zinc Mine, Amax UK – Hemerdon Tungsten Tin Project, Petromin (Mahad adh Dahab Gold Mine – Saudi Arabia), Metallurgical Consultant with Mackay & Schnellmann (UK). Richard Wollenberg Non-Executive Director Richard is currently Chairman and Chief Executive Officer of The Cardiff Property Public Limited Company, a quoted property investment and development company. Christopher (Chris) Molefe Non-Executive Director
- Mr. Molefe was formerly the Chief Executive of Royal Bafokeng Resources (Pty) Limited and is presently the Non-Executive
Chairman of Merafe Resources Limited a publicly listed company on the JSE Securities Exchange, and a non-executive Director of Capital Oil (Pty) Ltd and Jubilee Platinum. Chris has extensive knowledge of the South African mining industry and the financial sector.
Directors and Key Officers
Strong resource management team
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Portfolio
Commodity & Country
Zinc
Star Zinc Project
Zambia
Kashitu Prospect
Zambia
Phosphate
Glenover Project
South Africa (rare earths credit )
Copper/Gold
Ferber Prospect USA
Our Mission
Near Term
Star Zinc
- Mineral Resource Estimate to JORC 2012
- Secure Mining Licnce (Small Scale)
- Feasibility Study
- Negotiate Off-take Agreement
- Production Target Q4
Kashitu
- Commence Exploration
- Delineate Resource
Glenover
- Maximise Return
Ferber
- Secure funding
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Star Zinc & Kashitu
Location Zambia
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ZAMBIA MOZAMBIQUE DRC ZIMBABWE
Kashitu
Zinc Fundamentals
Zinc future strong
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5-Year LME Zinc Warehouse Stocks Level
Zinc Fundamentals
Zinc future strong
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5-Year LME Zinc Warehouse Stocks Level
march 2019 1.27
Star Zinc
Summary
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- 80.75 % Galileo with exclusive option to further 14.25% -
Zambian Govt holds 5%
- 900,000 t exploration target defined grading 10-12% Zn * equivalent 88,000 t
Zn metal - 3x historic tonnage 275,000t; 2x previous phase 1 drilling 475 000t
- Silver and germanium credits confirmed - historically up to 150 g/t Ag 110 g/t Ge .
- Metallurgical testing indicates > 90% Zn recovery with high grade concentrate > 50%
Zn
- Recent Jubilee acquisition of Sable refinery at Kabwe impetus to commence offtake
negotiation for Star Zinc ore
* @3% zn cut off Mineral Resource estimates above are not reported in accordance with the JORC 2012 Code.
Star Zinc
Results of exploration
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- 2,220 metres (m) drilling (56 holes) completed – depths down to 60m
- Hole SZDD 002 average 15.8% Zn - 46 m downhole from surface including 38.86% Zn
- ver 16m
- Hole SZDD012 average 23.54% Zn - over 33m form 23 ot 45m downhole
- SZDD014 average 21.73% Zn over 25m width from29 to 54 down hole
- SZDD048 average 29.73%% Zn over 15m from 32 to 47m downhole
- Germanium (Ge) intersections, up to 45 ppm (g/t) associated with hi- grade Zn
mineralisation
- Significant silver intersection up to 105g/t
- Potential mineralisation to south of mineralised domain
- Internal rock mass calculations estimate resource exploration tonnage expanded by
multiple of ~ 3 times
Star Zinc
Phase 2 Drilling - Completed 26 DDHs
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Phase 2 driiling (26) Diamond Holes Phase 1 drilling CSA Mineralised Domain
SZ_2017_009 SZ_2017_010 SZ_2017_012 SZ_2017_001 SZ_2017_002 SZ_2017_003 SZ_2017_007 SZ_2017_004 SZ_2017_005 SZ_2017_006 SZ_2017_008 SZ_2017_011 SZ_2017_013 SZ_2017_014 SZ_2017_015 SZ_2017_016 SZ_2017_017 SZ_2017_018 SZ_2017_019 SZ_2017_020 SZ_2017_021 SZ_2017_022 SZ_2017_023 SZ_2017_024 SZ_2017_025 SZ_2017_026
Star Zinc
Mineralisation - Wire Frame Model
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Section view of Wireframe looking North
Mineralisation:
- encountered at surface and extends to approximately 60m depth
- tested across 350 m strike length
- rientation zone approximately east-west, averaging some 16 metres in thickness
- additional domains created to identify areas of potential high grade,
Plan View of Wireframe Model with Drill Holes
Star Zinc
Drilling Results Phase 1 metres (m) down hole
13 Hole _ID SZD D From (m) To (m) Width (m) Zn_% 2 46 46 15.8 20 36 16 38.86 38.7 41 2.3 23.37 4 2 2 2.69 8 20.5 12.5 11.03 9 15 6 21.28 5 19 19 3.22 1 1 21.69 5 6 1 10.85 6 12 21 9 14.6 14 20 6 20.82 7 26 50 24 2.54 30 31 1 18.7 8 20 20 11 12 1 16.77 9 47 54 7 6.4 49 52 3 11.96 10 9 17 8 3.25 Hole _ID SZDD From (m) To (m) Width (m) Zn_% 12 11 14 3 2.74 23 45 22 23.54 27 43 16 30.85 14 29 54 25 21.73 31 52 21 25.1 15 25 32 7 10.65 26 27 1 11.38 29 32 3 20.28 16 18 18 2.23 22 37 15 19.82 22 33 11 23.95 17 5 15 10 4.36 29 56 27 9.94 7 8 1 12.94 9 11 2 12.31 35 37 2 28.76 41 50 9 20 19 44 59 15 2.03 Hole _ID SZDD From (m) To (m) Width (m) Zn_% 20 31 55 24 6.21 32 40 8 14.3 21 28 33 5 2.63 22 61 63 2 3.6 23 26 26 4.86 13 22 9 10.69 24 3 24 21 5.02 13 14 1 11.24 17 20 3 10.8 25 29 29 8.29 14 27 13 15.4 26 12 27 15 4.72 18 20 2 10.45
Star Zinc
Drilling Results Phase 2 metres (m) down hole
14 Hole_ID SZDD From (m) To (m) Width (m) Zn_% 30 10 10 4.27 14 37 23 15.47 21 33 12 26.21 31 5 30 25 2.98 18 19 1 10.78 32 10 22 12 14.32 12 19 7 22.69 34 11.5 17 5.5 9.38 13 15 2 23.1 36 13 26 13 6.7 18 21 3 23.59 38 35 52 17 11.93 35.7 44.7 9 21.12 39 35 52 17 14.28 44 50.25 6.25 33.85 40 23 43 20 20.11 25 38 13 29.02 41 13 22 9 4.45 34 49 15 17.94 36 48 12 21.82 Hole_ID SZDD From (m) To (m) Width (m) Zn_% 7 7 1.56 42 23 32 9 12.04 23.93 31 7.07 14.74 43 15 34 19 11.48 17.33 24 6.67 29.9 44 30.45 32.07 1.62 18.09 31 32.07 1.07 26.06 45 16 29 13 5.13 17 20 3 18.05 46 3.22 3.22 3.96 1 1 11.21 47 2 2 7.23 1 1 13.59 3.25 11 7.75 27.49 11 12 1 3.88 48 27 48 21 21.7 32 47 15 29.73 50 25 25 12.41 10 23 13 21.84 52 3 11.8 8.8 3.17 11.8 27 15.2 5.66 21 22 1 10.32
Star Zinc
Drill Core Example
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* portable x-ray fluorescence determination
3.8 m section of 16 m core length - core assay 31.51 % Zn * SZDD048 assayed 23.05% Zn* over 22m total core
Star Zinc
Summary of (AMS) In- House Conceptual Grade Tonnage Estimates
16 Cut
- ff
Grade (COG) Zn%
- VOLUME
- TONNES
(T)
- DENSITY
- Zn%
- (@COG)
- Zn
metal
- (T)
30 4,000 13,000 3.63 33 4,000 20 25,000 90,000 3.63 26 24,000 15 45,000 160,000 3.25 23 35,000 12 65,000 220,000 3.25 20 44,000 10 85,000 290,000 3.25 18 51,000 5 210,000 670,000 3.15 12 78,000 3 270,000 840,000 2.83 10 85,000 2 300,000 930,000 2.83 9 88,000 1 320,000 980,000 2.81 9 88,000 320,000 1,000,000 2.81 9 88,000 None
- f
the Mineral Resource estimates above are reported in accordance with the JORC 2012 Code.
- AMS - Addison Mining Services Ltd
Star Zinc
Conceptual Grade Tonnage Estimates Comparisons
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Summary
- f
Different Conceptual Grade Tonnage Estimates and Exploration Targets. (Current and Historical)
- None
- f
the Mineral Resources below are reported in accordance with the JORC 2012 Code.
- Scenario
* Volume (m3) SG Tonnes Zn % Tonnes Zn metal Current
- Galileo
Exploration
- Pragmatic
November 2018 AMS Exploration Target
- All
DDHs 300,000 2.8 900,000 10 to 12 90,000 to 110,000 Conservative November 2018 AMS Exploration Target All DDHs 200,000 2.8 600,000 10 to 12 60,000 to 72,000
- June
2018 CSA
- Phase
1 drilling 152,000 3.2 485,000 15 75,000
* 3% cut-off
Historic Exploration
- (Bushbuck
Resources) Conservative 2015
- 90,000
- 3.0
- 269,000
- 18
- 48,000
(Bushbuck Resources) Pragmatic 2015
- 129,000
- 3.0
- 386,000
- 18
- 68,000
- AMS - Addison Mining Services Ltd
CSA - CSA Global Mining Industry Consultants
Kashitu Zinc Prospect
Location Residual Rights in Relation to Kabwe Project Tailings
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Kabwe Tailings Project Licence
7081-HQ-SML
Kashitu Prospect
6990-HQ-LML
white outline
~ 5 km
Kashitu Zinc Prospect
Historical Exploration
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- range dots
BHP RAB drilling green dots BHP RC drilling
- range triangles
diamond drilling red outline Zn-in-Soil anomalism > 15,000 ppm Zn,
- ld workings – black outline.
Kashitu
Highlights
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- Historic soil Zn values > 15000 ppm (1.5% Zn) over a 1.2 km by 0.3 km area
- Billiton Zambia Ltd reported willemite resource: approximately 25 Mt at 2 to 3% Zn+Pb
- High-grade willemite mined historically nearby: fed to old Kabwe Zn-Pb mine
- Re-interpretation historic drilling: area likely to be associated with structure containing
steeply dipping high-grade willemite veins.
Kashitu Zinc
Potential & Update Kabwe Refinery
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- Jubilee Metals Group plc acquires Sable zinc refinery for recovery of Zn Pb V (vanadium)
- Kashitu mineralisation (willemite) potential for zinc extraction at Sable refinery
- Kashitu 6 km from the refinery
- Explored area open ended to south - highly prospective for further drilling
- Exploration to commence on Kashitu
- Potential for Kabwe style sulfide mineralisation deeper in new area
- Significant potential zinc metal addition to Star Zinc project
Kashitu Zinc Prospect
Exploration
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future explor’n Kashitu, with RAB holes in yellow, RC in red and diamond in green
Glenover Phosphate/REE Project
Established site
Phosphate open pit Open pit stockpiles
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Glenover Phosphate/REE Summary
- 3 million tonnes of stockpile available for processing
- 7 million tonnes of easily mineable open pit phosphate
- 15 year off take agreement for phosphate to be signed after conditions precedent (CP)
met by both parties
- Residue rom phosphate recovery conaitnign rare eraths woud be returned to Glenover
- CP - Omnia Fertiliser USD300,000 compatibility test work (nearly complete) -
Glenover Phosphate Mining Right application submitted (decision pending)
- Galileo owns 36% of Glenover
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Ferber Project in Nevada, USA
Gold skarn and Carlin-type gold
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UTM Grid North
Productive/Significant Gold Deposit
Galileo Resources PLC Ferber District Elko County, Nevada
Jerritt Canyon District Long Canyon Kinsley Mountain Bald Mountain
Ferber
25 km
Northeastern Nevada
Ferber Summary
Copper/Gold project in Nevada
- Large concession close to Pilot Gold (10km)
- On predicted next Carlin Trend (Long Canyon/Kinsley Mountain)
- Historical copper and gold drilling results
- Preference add value before joint venture
- Low holding costs
- Market and trade interest in Project: requirement to add value
- Recent Barrick and Newmont tie up in Nevada
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Ferber Property
Exploration Summary
- 343 unpatented and 19 patented claims covering 7,100 acres
- 20 km from recent major gold discovery in Kinsley District
- Historic drilling
10.7 m of 0.59 g/t Au 4.6 m of 2.37 g/t Au 4.6 m of 0.72 % Cu 25.9 m of 0.41 % Cu 12.2. m of 0.83 % Cu
- Ferber gold system is centered on a late Eocene intrusion - broadly similar to
productive Carlin-style gold & skarn deposits in north central Nevada.
- rock chip samples 11 out of 23 return gold values exceeding 0.2 g/t
- Seven samples exceed 1.0 g/t with a high of 10.8 g/t
- District-scale zoning recognised, with Au-Ag-Bi-Te-Cu proximal to the intrusive
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Compelling Investment Case
- 2 advanced projects
- Zinc projects with immense potential
- Glenover long life predictable earnings
- Nevada copper/gold project highly prospective
- Experienced management team
- Low market capitalisation relative to assets
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Corporate Information
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Number of ordinary shares in issue: 578,480,000 AIM code: GLR Market Cap: GBP 5.32 million
7/8 Kendricks Mews, London, United Kingdom, SW7 3HG Tel: + 44 (0) 207 581 4477 | Fax: + 44 (0) 207 589 7806 info@galileoresources.com | www.galileoresources.com
Galileo Resources Plc
7 Einstein Street, Highveld Techno Park, Centurion 0157 , South Africa Tel: + 27 (0) 113 465 1913 | Fax: + 27 (0) 11 4651895 info@galileoresources.com | www.galileoresources.com
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