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LUSAKA - Galileo Resources PLC announced the award of a 10-year small scale mining license for the Kashitu zinc project in Zambia, marking a significant step for the company’s operations in the region. The license, numbered 39893-HQ-SML, covers an area located 7km southeast of the historical Kabwe Zn-Pb mine.
According to the statement released by Galileo, the Kashitu project is in close proximity to their Kabwe operations and is situated in seasonal wetlands. The company has developed preliminary mining plans and sees potential for community engagement and development.
Colin Bird, Chairman & CEO of Galileo, expressed optimism about the license grant, stating, "The granting of the license could allow us to progress towards developing an open pit in the high zinc content willemite areas, subject to further evaluation of the potential project and finding suitable partners to work with."
Galileo’s approach appears to be cautious and forward-looking, with an emphasis on thorough evaluation and collaboration. The company has committed to keeping shareholders updated as the project develops.
The Kashitu zinc project’s advancement is contingent on further assessments and the establishment of partnerships that can aid in bringing the project to fruition.
Beaumont Cornish Limited, Galileo’s Nominated Adviser, will continue to provide guidance to the company in compliance with the AIM Rules for Companies and AIM Rules for Nominated Advisers. However, their responsibilities are owed solely to the London Stock Exchange (LON:LSEG), and not to the public.
This news comes as the mining sector in Zambia continues to attract international attention, with the country’s rich mineral resources driving investment and exploration activities.
The information for this article is based on a press release statement from Galileo Resources PLC.
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