Upgrade Now

Galileo gives Kalahari exploration the go-ahead

By Josh White

Date: Wednesday 12 Aug 2020

Galileo gives Kalahari exploration the go-ahead

(Sharecast News) - Galileo Resources has approved the start of exploration on its wholly-owned property in the Kalahari Copper Belt of western Botswana, it announced on Wednesday.

The AIM-traded firm said the approval was for the start of exploration programmes on Kalahari Copper Belt licences PL40/2018 and PL39/2018, aimed at defining targets for initial drill testing.

It said the exploration would include heliborne-electromagnetic geophysical surveys, and a reconnaissance soil sampling survey - techniques which it said had led to the discovery of several major copper-silver deposits in the region.

Galileo's licences were interpreted by its management to have similar geological settings to Cupric Canyon Capital's zone 5 and zone 5N deposits, 25 kilometres to the west.

It said PL40/2018 and PL39/2018 also lie along strike of Sandfire Resources' T3 and A4 copper-silver deposits, as well as Cupric's Banana Zone and Eland Zone copper deposits, 140 kilometres to the south west.

"We are pleased to announce the commencement of exploration activities on Kalahari Copper Belt tenures PL40/2018 and PL39/2018," said chairman Colin Bird.

"Initial exploration will include Heli-EM and soil sampling surveys, which are routine exploration techniques within the KCB and have been responsible for the identification of multiple prospects that have become copper-silver mineral deposits for companies such as Discovery Metals, Cupric Canyon and MOD Resources."

At 1412 BST, shares in Galileo Resources were up 9.74% at 0.89p.


Email this article to a friend

or share it with one of these popular networks:

Top of Page