Kalahari Copper Belt (‘KCB’)
This is an exciting area where several large sediment-hosted copper-silver discoveries have been made including by Cupric Canyon Capital which has recently completed development of the Khoemacau underground mine and Sandfire Resources Limited, an ASX-listed copper/gold producer, which is currently developing the Motheo open pit mine. Further recent discoveries have been announced by ASX-listed Cobre Limited.
Galileo’s holdings are in some cases proximal to these discoveries and in other areas are believed to include similar prospective stratigraphic and structural settings.
Galileo’s exploration project currently encompasses a total of 19 exploration licences, 8 of which were included in the final sale agreement completed in September 2021 with Sandfire Resources, which is required to spend US$4 million on the licences in the first two years of the agreement. The remaining KCB licences were retained 100% by Galileo.
Sandfire currently holds a large ground position in Botswana focussed around its Motheo copper mine. The transaction with Galileo allows Sandfire to explore in prospective land neighbouring its’ new development whilst allowing Galileo to potentially benefit from Sandfire’s position and expertise in the KCB.
Drilling
In 2021 a total of over 5,000m of mixed core and reverse circulation drilling was completed on the full KCB licence area, based on interpretation of an airborne EM survey carried out by the Company. The drilling was designed to target the D’kar Fm/ Ngwako Pan Fm contact, where mineralisation is typically found at previously discovered copper deposits in the KCB.
Drilling highlights;
– Visible copper mineralisation was intersected at 242.7m in drillhole BDDD004 on licence PL366/2018 in the form of vein-hosted chalcopyrite.
– The target D’kar/Ngwako Pan Fm formation was intersected in the majority of holes drilled with intersections of disseminated pyrite on the Galileo retained licences.
Galileo Retained Licences
As of early 2023 Galileo’s ground holding included 100% interest in 11 exploration licences covering 3,738km2. Maiden drill programmes on prospecting licences PL39, PL40 & PL253 identified prospective geological and structural settings on all three licences. The licences are currently under specialist geological review, including detailed re-logging and review of all existing drill-core, with ionic leach soil surveys and further drilling being considered for priority licences.
Sandfire Licences
Exploration is on-going, with the completion of airborne magnetic and radiometric surveys identifying targets for immediate follow-up work. A regional airborne gravity survey is planned in 2023, along with several localised Terraleach TM soil geochemical surveys.
