Galileo Resources PLC (AIM:GLR) has received a second small-scale mining licence for the Luansobe copper project in Zambia.
Subsidiary Statunga Investments, which has a 75% interest in the project, now has ten-year licences to mine copper and other base and precious metals.
The two mining licences cover an area where Galileo has previously reported Inferred Mineral Resources of 56,000 tonnes of open-pit mineable copper and 97,000 tonnes underground.
Colin Bird, Galileo’s chairman and CEO said: "As indicated in our announcement of 29 May 2024, we are pleased to be able to report that Statunga is now in receipt of the second mining licence for Luansobe covering the area of the underground resource.
“This marks an important step forward in our plan for the development of the open pit and accessible underground resources separate from a deeper drilling programme targeted at investigation of the extent of the deposit at depth.
“We continue to believe that there is the potential to define a much larger resource within our licence boundary and we look forward to announcing further progress on the project in the coming period."