Galileo Resources PLC (AIM:GLR) said multiple drilling targets have been identified on its Kalahari Copperbelt project in western Botswana on licences sold recently to Australian group Sandfire Resources.
Nine licences in the region were sold to Sandfire in 2021 with Galileo taking shares in the Australian group, which is to spend US$4mln on exploration.
Galileo kept some licences nearby in the area to carry out its own exploration.
Colin Bird, Galileo’s chairman and chief executive, said that a considerable amount of work had been completed on the Sandfire licences and the results to date are “very encouraging”.
“In terms of the Kalahari Copperbelt type mineralisation, multiple targets have been identified for follow up and we look forward to the next round of results generated by Sandfire.
“There is intense activity in the Kalahari Copperbelt with traditional thought being overtaken by new concepts and new ideas which are being proven in practice.
“The Sandfire licences and our retained licences which were not sold to Sandfire are all in pole position relative to the activity which should help accelerate our efforts," Bird said.