Galileo Resources (LON:GLR) said that several potential nickel targets were highlighted in the recent airborne geophysical survey over its Bulawayo project in Zimbabwe in addition to gold indications.
A recent interpretation of geophysical data indicates the presence of greenstone belts, banded iron formation and geological structures conducive to both gold and nickel mineralisation found beneath an area where historically no exploration has taken place.
Three nickel targets with the potential for follow-up have been identified including an entirely new discovery, together with several further sites of interest
Colin Bird, Galileo’s chairman and chief executive, said: "We are delighted also to report that one outcome of the recent survey has been an early indication of the possibility of the presence of nickel on our licences which was unexpected and a bonus to the company's gold mission.
“A review of the geological archive has highlighted potential by referencing Phoenix, Selkirk, Empress, Hunters Road, Epoch, Damba, Mimosa, Trojan and Selukwe among the better-known Zimbabwe and Botswana nickel sulphide deposits associated with greenstone belts, faults, and the Great Dyke.
“The majority of these deposits are greenstone-hosted deposits found in meta-gabbro rocks similar to the principal targets we have identified in our survey.”