Galileo Resources - Kalahari Copperbelt Drilling – Update

Galileo Resources

01/09/2025 07:00

RNS Number : 3026X

Galileo Resources PLC

01 September 2025

 

1 September 2025

 

Galileo Resources Plc

("Galileo" or the "Company")

 

Kalahari Copperbelt Drilling - Second Hole of Programme Hits Copper Mineralisation

 

The Company is pleased to report that the second hole of its' reverse circulation ("RC") drilling on its 100% owned prospecting licence PL253 in the Kalahari Copperbelt ("KCB") of Botswana has intersected a wide interval containing intermittent visible copper mineralisation.

 

 

Highlights

 

·    Two of the four RC holes planned to test geochemical and geological/structural features on PL253 in the northwestern part of the KCB were completed to date on a previously undrilled target.

 

·    The second vertical hole of the programme, QTRC014, intersected a 61m-wide zone of intermittent, visible copper oxides in rock chips in the form of malachite and chrysocolla from 75m to 136m depth.

 

·    The mineralisation appears to be primarily associated with quartz veining within the D'Kar Formation - further study is required to identify the presence of primary copper sulphides.

 

·    Drill samples will now be prepared for initial geochemical testing by hand-held pXRF, to be followed by full laboratory assay.

 

·    Two further holes on a separate target are expected to be completed shortly.

 

·    The Galileo target zone lies in the vicinity of the prospective D'Kar/Ngwako Pan contact with an accompanying soil anomaly and an interpreted thrust fault along strike from the BHP/Cobre Tlou prospect on an adjoining licence.

 

 

 

Colin Bird Chairman & CEO said: "It is very pleasing that we have made an early copper intersection in our RC drilling programme on PL253 as we were essentially drilling a blind target based on soil geochemistry and geophysical interpretation of the geology. There is much recent interest in this northwestern part of the KCB and Galileo is well positioned in relation to the recognised prospective stratigraphy of the area.

 

We will continue to keep shareholders informed as our drilling progresses."

 

 

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.

 

You can also follow Galileo on Twitter: @GalileoResource

For further information, please contact: Galileo Resources PLC

 

Colin Bird, Chairman
Tel +44 (0) 20 7581 4477
Beaumont Cornish Limited - Nomad
Roland Cornish/James Biddle
Tel +44 (0) 20 7628 3396
Novum Securities Limited - Joint Broker
Colin Rowbury /Jon Belliss
+44 (0) 20 7399 9400
Shard Capital Partners LLP - Joint Broker
Damon Heath
Tel +44 (0) 20 7186 9952

 

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").

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

 

Forward Looking Statements:

Certain statements in this announcement are or may be deemed to be forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'' ''could'' "should" ''envisage'' ''estimate'' ''intend'' ''may'' ''plan'' ''will'' or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth results of operations performance future capital and other expenditures (including the amount. Nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-looking statements.

 

 Technical Glossary

 

"chrysocolla"
A hydrated copper silicate (CuSiO3.2H2O), which occurs as an alteration product of copper minerals
"malachite"
A green copper carbonate mineral (Cu2(OH)2CO3) which forms by alteration of copper sulphide minerals
"pXRF"
A field-portable version of traditional X-ray fluorescence (XRF) spectroscopy, allowing for rapid, on-site analysis of various materials.

 

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