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Galileo Resources PLC on Monday reported an early copper intersection at its drilling programme in Botswana, sending its shares up 23% on Monday afternoon. The copper, gold and lithium mine developer in Zambia, Zimbabwe and Botswana said the second hole of its reverse circulation drilling on its prospecting licence PL253 in the Kalahari Copperbelt of Botswana has intersected a wide interval containing intermittent visible copper mineralisation. Galileo reported the commencement of drilling at the licence on Tuesday last week. Shares in the company climbed 23% to 1.20 pence on Monday afternoon in London. Galileo said the second verticle hole of the programme, QTRC014, intersected a 61-metre wide zone of intermittent, visible copper oxides in rock chips. It added that these were in the form of malachite and chrysocolla from 75 metres to 136 metres in depth. The company said it will now prepare the drill samples for geochemical testing, with this to be followed by full laboratory assay. Galileo expects two further holes on a separate target to complete soon. Chair & Chief Executive Colin Bird commented: ‘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.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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