Business
Commencement of Drilling in the Western Foreland
Commencement of Drilling in the Western Foreland.
About this update from Galileo Resources Plc
[{"type":"text","content":"\n\nGalileo Resources PLC\n29 July 2024\nGalileo Resources Plc\n(\"Galileo\" or the \"Company\")\nCommencement of Drill Programme in the Western Foreland, Zambia\n\nThe Board of Galileo Resources Plc (\"Galileo\" or the \"Company\") is pleased to announce that the Company has engaged a Zambian contractor to commence a drill programme amounting to approximately 700 metres of drilling in the initial phase on Licence 28001-HQ-LEL located in NW Zambia within the Western Foreland domain, with rig mobilisation scheduled for later this week.\n \nHighlights\n· Licence 28001-HQ-LEL is located within the Western Foreland domain, the district potentially hosting Kamoa - Kakula style copper deposits in NW Zambia.\n \n· The Licence is ideally located along strike of the Kamoa - Kakula mining complex in the DRC and adjacent to a substantial exploration licence area across the border in Angola acquired by Ivanhoe Mines which is targeting further extensions of the Western Foreland.\n \n· The Company will be testing potential redox front targets where suitable combinations of adjoining lithology have created the correct environment for copper deposition.\n \n· The decision to drill has been preceded by an extensive programme of reconnaissance and the reparation of roads and bridges to provide safe access for drilling equipment.\n \n· Collation of all necessary permits and approvals and establishment of contacts with local chiefdoms has been facilitated by Cooperlemon Consultancy, the Company's partner in the Project.\n \nColin Bird, Executive Chairman said: \"The operational activities outlined represent the Company's initial drilling and extended fieldwork at our prime licence in the Northwest region of Zambia. \n \nThe licence is well situated in the Zambian Western Foreland trend, which hosts the Kamoa mine across the border in the DRC, about 100 miles northeast of our activities.\n \nWe are pleased to have reached this juncture and look forward to the initial results, which will certainly add to our database and hopefully confirm our expectations for geological architecture supporting our prognosis.\"\n \nJoint Venture Agreement\nAs announced on 05 September 2023, Galil...