REG - Galileo Resources - Kalahari Copperbelt - RC drilling commences

Galileo ResourcesAnnouncement

26/08/2025 07:00

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RNS Number : 5756W  Galileo Resources PLC  26 August 2025

26 August 2025

 

RNS Number:

Galileo Resources Plc

("Galileo" or the "Company")

 

Kalahari Copperbelt - RC Drilling Programme Commences

 

The Company is pleased to report that reverse circulation ("RC") drilling has
commenced on geochemical and geological targets on 100% owned prospecting
licence PL253 in the Kalahari Copperbelt ("KCB").

 

 

Highlights

 

·    A programme of four RC holes has commenced to test two geochemical
and geological/structural targets on PL253 in the northwestern part of the
KCB.

 

·    The BHP Group Ltd ("BHP"), under a recent transaction with Cobre, is
investing up to US$25 million for exploration expenditure on Cobre's Kitlanya
Copper Projects, including Kitlanya West, contiguous with PL253.

 

·    The transaction underscores Cobre's and BHP's confidence in the
potential for these projects to host Tier 1 copper-silver deposits on this
part of the KCB.

 

·    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.

 

·    Recent analysis by the Company using a hand-held pXRF instrument on
rock chips from an RC drilling programme in 2022 highlighted a zone of
consistent downhole copper anomalism in hole QTRC006 which will be further
tested in the current programme.

 

 

Colin Bird Chairman & CEO said: "Our drilling programme now underway on
PL253 is being carried out in an area with a highly prospective address.
Significant exploration commitment by BHP and others has placed the spotlight
on this underexplored northwestern limb of the KCB and provides considerable
encouragement for our programme. We look forward to the outcome and will keep
shareholders informed as results are received."

 

 

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           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.

 

 

END

 

 

 

 

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