The AIM-listed firm said it has completed data processing, interpretation and drill target selection work on the Heliborne-EM geophysical survey carried out over two priority licences in its highly prospective KCB Project, which has revealed a possible stratigraphic/fault repetition interpreted along a 22-kilometre conductive zone on PL40/2018 which ti said may indicate comparable geological settings to Khoemacau Copper Mining’s major Zone 5 and Zone 5N deposits, situated 25km due west to Sandfire Resources large A4 and T3 deposits.
The firm said by analogy with these deposits its own targets on PL40/2018 represented attractive drilling areas, adding that drill planning over PL39/2018 will focus on the margins of a regional scale dome feature with structural similarities to the T3/A4 deposits.
Galileo also said a contract has been signed with an experienced Botswana drill operator for a minimum of 2,500 metres of diamond drilling in up to ten first priority holes, with drilling planned to commence in the current week.
“The Kalahari Copper Belt is emerging internationally as a developing region for copper production. The Galileo licences are well placed among a conglomeration of discoveries by Cupric Canyon Capital and Sandfire Resources. These discoveries have resulted in the development of two mines to date and we are excited about the potential for new discoveries on our properties”, Galileo chairman and chief executive Colin Bird said in a statement.
“The whole region has sand cover and geophysics is the primary tool for identifying concealed orebodies. The results of our airborne survey have produced strong drill targets, similar to previous discoveries – we look forward to updating the market as our drilling work progresses”, he added.
Shares in Galileo jumped 13.9% to 1.7p in late afternoon trading on Wednesday.