Galileo Resources PLC (AIM:GLR) is to start a Phase III drill programme at its 51% owned Shinganda project in Zambia.
Drilling will aim to confirm near-surface copper-gold mineralisation occurs along the Shinganda Fault Splay over a strike length of potentially more than 4km.
Potentially, this would be the basis for a preliminary mineral resource estimate at Shinganda, Galileo added.
Phase I and Phase II drill programmes indicated the presence of copper-gold mineralisation associated with major regional and more localised structures with higher copper and gold grades found at shallow depths.
Evidence from two phases of drilling indicated mineralisation at grades of between 1.0 and 1.5% copper equivalent at shallow depths over notable package widths, said the statement.
Phase III drilling will target a projected supergene high-grade, broadly drill-defined zone
Colin Bird chairman and chief executive added: "The last two years of exploration at Shinganda, including fieldwork, geophysics and drilling has identified multiple targets and several geological concepts have emerged all of which will be followed up in the future.
“Our thoughts range from IOCG potential to isolated gold potential to traditional Copper Belt.”