REG - Galileo Resources - Kalahari Copperbelt Geophysical Survey Results

Galileo ResourcesAnnouncement

04/03/2025 07:00

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RNS Number : 1602Z  Galileo Resources PLC  04 March 2025

4 March 2025

 

RNS Number: 1602Z

Galileo Resources Plc

("Galileo" or the "Company")

 

Kalahari Copperbelt Geophysical Survey Highlights Potential Drill Targets

 

Galileo is pleased to provide an update on further exploration work undertaken
over certain of its 100% owned Retained Licences in the Kalahari Copperbelt
("KCB"). As referenced in the Interim Results announced on 30 December 2024,
drill targets have now been defined following a recently completed Induced
Polarisation ("IP") geophysical survey on five profiles across two of its KCB
prospecting licences PL039/2018 and PL040/2018 in Botswana where it is
searching for sediment-hosted copper-silver deposits in a region with several
new operating mines and recent discoveries.

 

Highlights

 

·      Chargeability/resistivity anomalies were observed on all five IP
lines surveyed across both licences, most of which are supported by anomalous
soil geochemistry in the vicinity of the target D'Kar-Ngwako Pan contact.

 

·      The chargeability/resistivity anomaly on PL039, Line 1 in
particular emerges as a compelling drill target, based on:

 

o  Location on the crest of the 'Galileo' Fold, analogous to the adjacent
Mowana Fold which has been shown to be copper mineralised in drilling carried
out by Khoemacau and Arc Minerals.

o  Strong IP chargeability/resistivity anomaly apparently coincident with and
down-dip of the target D'Kar-Ngwako Pan contact with possible structural
controls.

o  Coincident Terraleach copper soil anomaly lying directly over the up-dip
part of the chargeability anomaly.

o  Previous Galileo drilling in the area where re-logging has provisionally
identified traces of copper mineralisation in several of the holes at the
target horizon level.

 

·      It is now planned to undertake pXRF geochemical analysis of the
previous drill core on both prospecting licences to confirm the presence of
copper mineralisation and its quantity, where present.

 

·      A follow-up drill programme will be prepared which will test both
the PL039/2018 Line 1 target and other geophysical targets supported by the
planned pXRF analytical work on earlier drill core with reported copper
traces.

 

Colin Bird Chairman & CEO said: "The previous work undertaken by the
Company on these two licences identified anomalies based on soil geochemical
surveys located close to the southeastern basin margin of the Kalahari
Copperbelt. We know from previous work including our own scout drilling that
these targets within the two licences were prospective and the recently
completed follow-up ground geophysical surveys have delivered well-defined
targets that clearly justify a commitment to a drill programme. We note in a
previous announcement that our external geological consultant believed that
the orientation and wide separation of the scout drilling results offers scope
for the development of economic mineralisation to sit between the historic
drillholes. Thus the latest results provide powerful motivation to pursue the
newly confirmed geophysical targets with vigour. We look forward to providing
shareholders with further updates once the drill programme has been approved
by the Galileo Board ".

 

Previous scout drilling by Galileo revealed the correct prospective
lithological sequence most typically associated with mineralisation in the
region leading the external consultant to advise that the orientation and
wide separation of these scout drill holes would readily allow for the
development of an economic style deposit to sit between them. Galileo followed
up with ionic leach soil sampling resulting in the discovery of the current
anomalous targets.

 

 

Survey background

Five Insight Gradient Array IP profiles totalling 12.725km were completed by
3D Earth Exploration contractors on PL039/2018 (3 lines) and PL040/2018 (2
lines). The profiles were chosen based on geological interpretation,
aeromagnetic data and Terraleach soil sample results and were designed to test
the effectiveness of the methodology to penetrate the sand/soil cover and
provide meaningful information on geology, structure and potential mineral
occurrences of interest.

It is clear from the results received that penetration to bedrock was achieved
on all lines surveyed through 60m+ overburden cover.

 

The raw field data was then processed by a Senior Geophysical Consultant to
produce inversion plots to assist with target delineation.

 

PL039/2018 Profile of Line 1 Target - IP Inversion of a Stacked Schlumberger
Section with Chargeability (top) and Resistivity (below). Mobile Metal Ion
(TerraLeach -TL1) soil sampling line with coherent soil and IP anomaly located
above the D'Kar/Ngwako Pan Formations contact interpreted from regional
airborne magnetic, airborne electromagnetic and gradient array IP data. Thick
black line shows the interpreted contact while the thinner black lines
demarcate changes in lithology in the D'Kar Formation.

 

 

 

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

 

 

Technical Glossary

 

 "chargeability"              A measure of electrical capacitance of a rock that may indicate the presence
                              of disseminated sulphide minerals but not all chargeability features are
                              caused by such sulphides.

 "Induced Polarisation (IP)"  A method of ground geophysical surveying which employs the passing of an

                            electrical current into the ground to test for indications of conductive
                              metallic sulphides.

 "ionic leach"                Cf 'Terraleach'

 "pXRF"                       A hand-held instrument to determine the chemistry of a sample by measuring the
                              fluorescent (or secondary) X-ray emitted from a sample when it is excited by a
                              primary X-ray source

 "resistivity"                A geophysical exploration technique utilising the variable electrical
                              resistivity or conductivity of different rock types.

 "Schlumberger Array"         A geotechnical method that uses four electrodes in a line to measure the depth
                              and electrical resistivity of layered rock structures.

 "Terraleach"                 A partial leaching technique that analyses mobile ions that have moved into a
                              weathering zone - used in geochemistry to help discover mineral targets.

 

 

 

 Colin Bird, Chairman                       Tel +44 (0) 20 7581 4477
 Beaumont Cornish Limited - Nomad           Tel +44 (0) 20 7628 3396

 Roland Cornish/James Biddle
 Novum Securities Limited - Joint Broker    +44 (0) 20 7399 9400

 Colin Rowbury /Jon Belliss
 Shard Capital Partners LLP - Joint Broker  Tel +44 (0) 20 7186 9952

 Damon Heath

 

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.

 

 

 

 

 

 

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