Galileo Exploration Ltd. Majuba Hill Copper Project 2017 Exploration Update

2018-02-22 / @nasdaq


VANCOUVER, British Columbia, Feb. 22, 2018 (GLOBE NEWSWIRE) -- Galileo Exploration is pleased to release the results of its 2017 exploration program at the Majuba Hill Copper project in Pershing County, Nevada USA.

The Majuba Hill Copper project is 6.5km2 (4 square miles) in size and is located approximately 20km (12 miles) northwest of Rye Patch Gold’s Florida Canyon mine. The original Majuba Hill Mine produced 2.8 million lbs. of oxide copper grading from four to twelve percent (4 to12%) copper during the period 1907 through 1947 from the top of the porphyry system.

The 2017 exploration program began in August 2017

Galileo completed an Induced Polarization Chargeability Study totaling 6.6km (4 miles) in 3 lines to follow up on a previously identified anomaly from IP completed in March 2011. Initially programmed to be 3km (1.9 miles), we extended the lines due to further anomalies identified at the Eastern End of each line. This produced a new footprint of potential mineralization to 700 m (2300 ft.) by 1200 m (3950 ft.).

The drill program began in November 2017             

The Company planned a 2-hole 460 m (1509 ft.) drill program to test the IP anomalies that were identified at the Eastern End of the IP Study and further identified by a previous hole - MMX-24 which intersected 222 m (728 ft.) grading 0.27 % Cu and 10 g/t Ag including 113 m (371 ft.) grading 0.45 % Cu and 8.5 g/ Ag.             

Galileo decided to expand the drill program to almost double to footage as visual results from Hole 1 indicated possible increased mineralization at depth.      

A total of 898 m (2947 ft.) of core drilling in three HQ core holes were completed at three (3) separate sites.             

Hole MG17-01

Intercepted broad intervals strongly altered felsic vent intrusive rock with variable sulphide content, very similar to that seen in historic mineralized holes.
Sericitic alteration was encountered at 268 m (880 ft.). Total depth of the hole was 275 m (902 ft.), the hole ended in this alteration.  

Hole MG17-02

Located 1000 m (3280 ft.) south of hole MG17-03, cut a section of metasediments. MG17-02 intercepted two narrow (0.9 ft.) intervals of Majuba Complex rocks and is essentially devoid of mineralization.
Carbonaceous samples of the core have been sent to the lab for further testing to see if they are graphitic in nature.
Galileo possibly identified one limit of the Majuba Intrusive Complex.             

Hole MG17-03             

Located 300 m (985 ft.) southwest of hole MMX-24, intersected significant mineralization from 89.2 m (293 ft.) to 348.1 m (EOH 1142.2 feet).
It cut a series of vent-facies intrusive breccias and several distinct intrusives from 0.0 to 1142.2 TD open to depth.             

In this vertically controlled system, true widths approximate 50% of drilled width.
Alteration was strong in the entire hole, with pervasive strong sericitization and silicification, local chlorite alteration, patchy K-feldspar alteration, and a late acid -leaching assemblage.
Vein quartz is absent, and stockwork controlled alteration is not apparent. Sulphides are present as disseminated grains, mostly very fine, and in highly variable micro-veinlet stockworks, and shear and fracture filling with tourmaline.
Pyrite is the most abundant sulphide, followed by pyrrhotite, sphalerite, chalcopyrite, arsenopyrite, and several unidentified sulphides.             

Total sulphide content generally increases downhole, with local zones of sub-massive sulphide.
While significantly higher mineralization reported from previous hole MMX-24 was not intersected, drilling has delineated a large target area west of hole MG-17-03 and beneath MMX-24 and the previously mined high-grade copper breccia zones at Majuba which require further testing.             

Assays from Hole MG17-03             

Summarized as follows: 89.2-99.9 m (10.7 m or 35.3 feet) 0.20% Cu. 112.0-119.7 (7.7m or 25.4 feet) 0.385% Cu. 212.6-227.4m (14.8m or 48.8 feet) 0.166% Cu. 275.1-348.1 m (73 m or 240.9 feet) 0.143% Cu and 0.17%Zn open to depth.
A significant anomalous zone of zinc mineralization is present from 45-241.6m (196.6 m or 648.8 feet) grading 0.28% Zn, indicating this hole is peripheral to the main copper mineralization.             

A comparison of the drilling results to those of hole MMX 24 indicate that mineralization is focused on a NW trending zone of multiple felsic intrusives from a larger mass at depth to the west of MG17-03, and beneath MMX-24 and the previously mined high-grade oxide copper zone at the top of Majuba Hill.
This area appears to have the highest potential to host a larger body of higher-grade mineralization. A 3D model of the drill hole intersections is being prepared to clarify this area.             

Subsequent to the end of drilling             

Durango Geophysical, of Colorado, followed up their IP study for Galileo by conducting a 70km (45 mile) ground magnetic survey. This produced additional information, which caused Galileo to hire a ground staking crew to expand the size of the Majuba footprint. The Company is also in discussions with local landowners to continue this addition of sections of land.

Mr. Dave Mough, a Nevada geologist with 30 years of experience conducted all fieldwork summarized that “Holes MG17-01 and MG17-03 cut strong sericitization, particularly in MG17-03, and both holes bottomed in sericitized rock. Operators with a strong copper background often apply more sophisticated methods to alteration analysis, however Galileo felt it unwise to attempt this work in the first pass program. Sericite and silica will need rigorous understanding in this atypical porphyry system. Most notable is the widespread, pervasive sericite assemblage displayed in almost every rock type. 3-D modeling for a comprehensive alteration/mineralization model will prove invaluable.”

Ron Rieder, CEO/President of Galileo Exploration Ltd comments, “We are possibly closing in on a massive system that was responsible for the high-grade deposits previously mined in the top of the Majuba. In addition, we are excited by the prospects for global copper demand due to the proliferation of electric vehicles and tightening supply dynamics. Massive porphyries are often considered the World’s most valuable style of ore deposit for their low cost of operations and the potential to host several different deposits within close proximity to the host.”

Gary Nordin, B.Sc. (Geol Hons) is the Qualified Person for Galileo Exploration Ltd. and has reviewed and approved the technical information contained in this news release. Gary is a member of the Company’s Technical Advisory team. Direct fieldwork was being carried out by Mr. Dave Mough, a Nevada geologist with 30 years of experience. Core drilling and sampling was directly under the supervision of Mr. Mough. Core was transported to a secure facility and cut into equal portions and a sample bagged and collected by American Assay Labs of Sparks Nevada. All samples submitted for geochemical analysis were subject to a QA/QC program relying on cross referencing, documentation, and control samples. Three types of samples were randomly inserted into each lab assay submittal: standard reference material; (two values used) blank material; (qualified coarse crush) and repeat analysis for both pulp and reject samples. All samples were analyzed for Au by AAL method FAPB30 using 30gm (1 assay ton) fire assay. Silver plus 11 elements were analyzed by AAL method ICP2Z on a custom 5gm digest by aqua regia with solution analyzed by ICP-AES. Results were reported in parts per million with greater than 10,000 Cu reported as assay %. Au reported in ppb.


“Ron Rieder”

Ronald A. Rieder

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release. This news release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.

Ronald A Rieder 
Galileo Exploration Ltd.
604 727 4653

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