LONDON (ShareCast) - (Sharecast News) - Galileo Resources said its second reverse circulation drill hole on licence PL253 in Botswana's Kalahari Copperbelt had intersected a wide zone of visible copper mineralisation, marking early success in the company's ongoing exploration programme.
The AIM-traded firm said the hole, QTRC014, encountered a 61-metre interval containing intermittent copper oxides in the form of malachite and chrysocolla from 75 to 136 metres depth.

It said the mineralisation appeared primarily associated with quartz veining within the D'Kar Formation, with further analysis required to determine the presence of primary copper sulphides.

Two of the four planned holes on the previously undrilled target have now been completed, with the remaining two on a separate target expected to be finished shortly.

Drill samples from the first two holes would undergo initial geochemical testing using hand-held pXRF equipment before being sent for full laboratory assay.

"It is very pleasing that we have made an early copper intersection in our RC drilling programme on PL253 as we were essentially drilling a blind target based on soil geochemistry and geophysical interpretation of the geology," said chairman and chief executive Colin Bird.

"There is much recent interest in this northwestern part of the KCB and Galileo is well positioned in relation to the recognised prospective stratigraphy of the area."

The licence lies near the D'Kar/Ngwako Pan contact zone, along strike from the BHP/Cobre Tlou prospect, an area considered highly prospective for copper mineralisation.

At 1401 BST, shares in Galileo Resources were up 23.08% at 1.2p.

Reporting by Josh White for Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE