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.
ON BEHALF OF GALILEO EXPLORATION LTD.
“Ron Rieder”
Ronald A. Rieder
CEO/President
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
President/CEO
Galileo Exploration Ltd.
604 727 4653
RRieder@GalileoExplorationLtd.com
www.GalileoExplorationLtd.com
