Galileo joint venture partner Orogen Gold has completed an initial RC drilling programme on the company's Silverton property in Nevada.
Orogen has the right to earn a majority interest in the property under the terms of an earn-in agreement with Galileo, the terms of which were first announced on 27 June.
- Inclined RC holes cut across extensive low-order gold mineralisation on the Silverton Fault Zone
- Mineralised intervals up to 71.63m grading 0.20g/t Au, with values to 1.33g/t Au
- 600m strike length of fault system tested at intermediate depths in mineralised tuff-quartzite package
Director Andrew Sarosi said: "The results from the initial test drilling showed gold mineralisation persists at depth along the Silverton Fault over a wide interval. The programme, which included drilling to test structurally controlled high-grade feeder zones in the property, did not identify any new lithology or conditions to support this prognosis.
" The new results will be assessed along with historic data in order to understand mineralisation patterns better and, if appropriate, generate targets to be drill tested in 2017."
At 8:00am: (LON:GLR) Galileo Resources share price was -0.23p at 1.45p