Galileo Resources (LON:GLR) has sold its Gabbs property in Nevada for US$2.5mln (£1.9 mln) cash to help fund its copper exploration in South Africa.
Colin Bird, Galileo’s chief executive, said: "The Gabbs sale allows us to focus on the Concordia copper project in South Africa, where the management has gained most of its success and experience.
"The cash received will cover our short-to-medium-term working capital."
Galileo acquired Gabbs in 2014 when it bought St Vincent Minerals US's portfolio of Nevada properties for C$4.3mln.
Elsewhere in Nevada the junior has expanded its other interests at Ferber and Crow Springs, with a further 210 claims added at Ferber after a quitclaim by a major mining company
Galileo is looking for a joint venture or to farm-out these properties having arranged a farm-out in June with Orogen Gold at the Silverton gold property..