Galileo Resources PLC (AIM:GLR) said testing of historic drill core at the Luansobe copper project has provisionally identified an upper mineralised zone of moderate copper grade, with some higher-grade intervals in several holes, which had not previously been reported.
The company, which holds a 75% stake in the Zambian project, gained access to drill core from the project area dating from the 1950s and 60s which it said was in good condition.
"We are receiving very satisfactory results from our work on historic drill core at the Kalulushi core shed, with positive results to date,” said chairman and chief executive Colin Bird. “Of most encouragement is that there exists a shale unit which appears to be copper-bearing and, in places, of significant thickness.”
Core from 21 priority holes has been located and is being re-logged and checked by portable X-ray fluorescence (pXRF) for approximate copper content focussing on zones that may not have been recognised as copper-bearing in the past. Previously unsampled zones of particular interest are being cut and sampled for follow-up laboratory assay testing.
“The preliminary hand-held XRF analysis suggests significant individual copper grade values, subject to full laboratory assay testing,” said Bird. “The fact that we can access this old core is extremely cost and time effective, reducing the amount of new drilling that will be required.
“We continue to aim for definition of an open pit resource by end Q3 2022, with the added advantage that the newly indicated mineralisation is relatively close to surface and can increase the resource tonnage."
Luansobe is located about 15km to the northwest of the Mufulira mine in the Zambian Copperbelt which produced more than 9 million tonnes of copper metal during its operation.