Three Copper Targets Discovered on PL253/2018

Galileo Resources PLC

30 January 2024

 

30 January 2024

Galileo Resources Plc

("Galileo" or "the Company")

Three Copper Targets Discovered on Licence PL253/2018 in Kalahari Copper Belt

The Company is pleased to announce the results of its recently completed Terraleach soil survey over its wholly owned licence PL253/ 2018 in the Kalahari Copper Belt in Botswana. A recent geochemical survey has revealed three strong copper targets that are located both along structures proven to host copper mineralisation and in close proximity to announced copper mineralisation on neighbouring licences. The integrity of the results is underpinned by available information in the public domain relating to nearby deposits and also reflects Galileo's highly successful survey using metal-ion geochemistry (Terraleach^TM)*. The results combined with proximal discoveries by third parties demonstrates the emerging potential for new discoveries in this under-explored portion of the Kalahari Copper Belt.

Highlights

·      Three potential drill targets defined with a combined strike length of more than 6km. All targets are located within the southern sector of Licence PL253/2018 bisecting licences held by Cobre Limited ("Cobre"), the ASX-Listed company recently selected to participate in the "BHP Xplor Program" for 2024.

·      Combining Galileo and Cobre soil anomaly maps (Cobre RNS 29 November 2023), the targets appear contiguous and associated with the same geological and structural features, subject to confirmatory follow-up work.

·      Based on the close correlation with existing neighbouring projects, a fourth possible target area has been identified to the north of the recent discoveries and along strike of Cobre's Tlou target.

·      The Company is considering its approach to follow up exploration leading to drilling of better defined targets.

Colin Bird Chairman and CEO commented "We are very pleased that our immediate neighbour Cobre Limited has been selected for the 2024 "BHP Xplor Program". This is indeed a commendation reflecting the Company's efforts and the quality of its Copper Belt licences. Importantly, current published information quite clearly shows our new targets to be contiguous with known targets and mineralisation on these highly prospective licences.  Our own work is very positive underpinned by the Terraleach^TM* geochemistry and we look forward to drilling these targets in the near-term."

Figure 1 - PL253_Galileo soil geochemical anomalies

Technical Sign-Off: Technical information in this announcement has been reviewed by Edward (Ed) Slowey, BSc, PGeo, Technical Director of Galileo. Mr Slowey is a geologist with more than 40 years' relevant experience in mineral exploration and mining, a founder member of the Institute of Geologists of Ireland and is a Qualified Person under the AIM rules. Mr Slowey has reviewed and approved this announcement.

*Terraleach^TM: The technique is a partial leach method that assays for mobile ions which have migrated into the weathering zone, and which are only weakly or loosely attached to the surfaces of soil particles. Studies have shown that these ions have the ability to disperse through unmineralised rock and overburden to surface from depth, thus having the capacity to indicate buried mineralisation.

You can also follow Galileo on Twitter: @GalileoResource

For further information, please contact: Galileo Resources PLC

Colin Bird, Chairman	Tel [phone]
Beaumont Cornish Limited - Nomad Roland Cornish/James Biddle	Tel [phone]
Novum Securities Limited - Joint Broker Colin Rowbury /Jon Belliss	[phone]
Shard Capital Partners LLP - Joint Broker Damon Heath	Tel [phone]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

 

END