Galileo Resources - Exploration Progress Update on Kalahari Project
Dissemination of a regulatory announcement that contains inside information according to Regulation (EU) number 596/2014 (MAR)
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Galileo Resources Plc
("Galileo" or "the Company")
Exploration Progress Update on Kalahari Copper Belt
Galileo Resources plc ("Galileo "or the "Company") is pleased to announce an exploration update on its' 100% held property in the emerging Kalahari Copper Belt ("KCB") in western
· Further to its announcement of
· Preliminary overview of the results is very promising with the EM data interpreted to show several highly prospective geological settings for copper-silver mineralisation
· In particular, the EM data from PL250/2018 and PL251/2018, which is situated only 30kms west of Sandfire Resources' high-grade copper-silver A4 Dome Project, contains several EM anomalies, the most prospective of which display similar conductive dome geometry
· Data obtained within PL40/2018 is interpreted by Galileo's technical team to show this area has a comparable geological setting to Cupric Canyon Capital's
· Detailed data interpretation is under way, utilising Spectral Geophysics, a consultancy that was involved in the discovery of the A4 Dome deposit (targeted from EM data) and the Company will announce these conclusions once known
· The most prospective EM targets will be selected for early drill testing
Airborne EM Programme
The Company has just completed a High-Resolution Helicopter-Borne Electromagnetic (EM) and Magnetic Survey over four of its exploration licences within the Kalahari block. The survey, comprising 3,269 line kilometres @ 200-250m flight line spacing, was undertaken by New Resolution Geophysics, based in
The data obtained is of excellent quality and will now be processed and interpreted on Galileo's behalf by Spectral Geophysics, a consultancy highly experienced in processing geophysical data from the Kalahari region, and which was instrumental in the recent discovery of the high grade A4 Dome copper-silver deposit for Sandfire Resources. Geological interpretation will then be carried out by our in-house team which has extensive background in discovery of major copper deposits in the KCB.
Preliminary overview of the Galileo EM results is very promising with several highly prospective geological settings already identified.
Historically, airborne EM surveying has been one of the main exploration tools that have been responsible for the recent discovery of copper-silver deposits throughout the KCB. It has mainly been utilised as an exploration tool for understanding the geological setting of the various KCB stratigraphic units under the Kalahari sands. Modelling of the conductive response from the well-established Carbonaceous Marker Horizon allows for the relatively easy interpretation of the location and drill targeting of the prospective D'kar Fm/Ngwako Pan Formation contact at depth. However, in some instances where the copper mineralisation is predominantly composed of chalcopyrite, such as at T3 and A4 Dome, EM surveys have also been successful in directly detecting copper mineralisation.
The initial Galileo exploration programme is aimed at defining the most prospective structural setting for sulphide accumulations within the areas flown. Detailed evaluation and interpretation of the airborne data will be completed shortly, with the aim of selecting targets for drill testing in the near term.
Background to the KCB Exploration Programme
The interpreted geological setting beneath the Kalahari sand deposits for the area covered by PL40/2018 and PL39/2018 is based on regional aeromagnetic and EM data. This area has strong similarities to the synclinal geological setting that hosts Cupric Canyon Capital's ("Cupric") world-class Khoemacau Copper-Silver Project, situated only 25 kilometres due west.
The regional synclinal settings of Galileo's PL40/2018 and PL39/2018 and
Technical information in this announcement has been reviewed by
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For further information, please contact: Galileo Resources PLC
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