RYAN CHIGOCHE
A South African based airborne geophysical firm has discovered potential nickel deposits in two of United Kingdom based Galileo Resources’ gold projects in Zimbabwe.
The company, Xcalibur Airborne Geophysics, is contracted by Galileo to undertake exploration works in Zimbabwe.
The latest development was disclosed by Galileo’s CEO Collin Bird.
He said the main purpose of the survey was to find possible gold targets across the two company’s projects including the one near Bulawayo.
Bird described the nickel discovery as a bonus.
“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,” Bird said.
He added: “The majority of these deposits are greenstone-hosted deposits found in meta-gabbro rocks.”
Bird said the company will follow up on the three nickel discoveries.
“We look forward to evaluating the principal targets identified so far together with the other nickel anomalies now in the exploration inventory and will report back to shareholders as work advances,” he said.
Bird said several other potential nickel locations within the licences were identified by komatiitic rock, an ultra-mafic host associated with nickel mineralisation discovered at the Shangani nickel mine located outside the company’s licences.Analysts said the discovery comes at an opportune time prices of nickel have been on the rise, driven by the geo political tensions in Eastern Europe.
