1 February 2024
Galileo Resources PLC (AIM:GLR) has unearthed three copper targets within licence PL253/2018, part of its portfolio in the Kalahari Copper Belt in Botswana.
The company told investors that the combined strike length of the targets exceeded 6 kilometres. Additional analysis also points to a potential fourth target area.
The company is now considering its approach for further exploration to drill the better defined targets. It highlighted that all of the targets are located in the southern sector of the licence, in an area that bisects licences held by Cobre Limited – and noted that the ASX-listed neighbour was recently selected to participate in the “BHP Xplor Program”.
According to Galileo, by combining Galileo and Cobre soil anomaly maps, it sees that the targets appear contiguous and associated with the same geological and structural features. Galileo noted that its data comes from surveying efforts using Terraleach, a metal-ion geochemistry method.
The company and its investors will closely watch all exploration activity in the vicinity of the project area.
“We are very pleased that our immediate neighbour Cobre Limited has been selected for the 2024 BHP Xplor Program,” Galileo chief executive Colin Bird said in a statement.
“This is indeed a commendation reflecting the company’s efforts and the quality of its Copper Belt licences. Importantly, current published information quite clearly shows our new targets to be contiguous with known targets and mineralisation on these highly prospective licences.
“Our own work is very positive underpinned by the Terraleach geochemistry and we look forward to drilling these targets in the near-term.”
James Halstead PLC (AIM:JHD) on Wednesday expressed confidence of a positive half-year outturn despite weaker demand in some European markets.
Updating investors on trading in the half-year to December 31, the Manchester-based flooring manufacturer said the board’s “expectations for the full year remain positive and for continued progress on dividend distributions.”
But it cautioned it had seen “softening of sales demand in some European markets.”
Nonetheless, interim annual profit is expected to be “in the region” of 15-20% ahead of the prior year comparative with a robust cash balance.
Half-year results will be released on March 27.
