KCB – Re-logging & Testing Confirms Copper

In brief · summary, not quotable

Re-logging and testing of past drill core confirms copper mineralisation in three KCB prospecting licences.

Copper spot values range 0.1 to 0.7% Cu, up to 0.96% Cu maximum
Copper enhancement zone depth 55m interval to 211m depth on PL253

Full announcement

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Given various companies have developed new models and concepts in the general Kalahari Copperbelt ("KCB"), the Company made the decision to review again past exploration work undertaken over certain of its prospecting licences in the KCB. Re-logging and geochemical testing by the Company of earlier drill core and reverse circulation ("RC") drill chips from its' three priority 100% owned prospecting licences in the KCB has confirmed the presence of copper mineralisation and anomalism in several holes, not previously identified, coincident with soil anomalies in the vicinity of the main stratigraphic target horizon.

Highlights

Re-logging of drill core from the 2022 Galileo exploration programme on PL039 and PL040 provisionally identified traces of chalcopyrite, bornite and chalcocite copper mineralisation in veins from the vicinity of the D'Kar/Ngwako Pan Formation contact, host to much of the economic mineralisation in the Belt.
Indicative geochemical analysis by hand-held pXRF instrument confirmed visual mineral observations in six holes, with spot values generally in the range of 0.1 to 0.7% Cu, up to a maximum of 0.96% Cu.
The mineralisation identified is further supported by soil anomalies and is partially coincident with IP geophysical targets, both of which were reported previously.
As much of the drilling is widely spaced with potential for significant mineral deposits in the intervening ground the results will be integrated to identify follow-up targets for infill/extension drilling.
On PL253 pXRF analysis on rock chips from the earlier RC drilling programme has highlighted a zone of consistent downhole copper enhancement in hole QTRC006 over a 55m interval to the bottom of the hole at 211m depth.
This zone lies proximal to the known D'Kar/Ngwako Pan contact in the vicinity of a soil anomaly and an interpreted thrust fault along strike from the Tlou prospect currently being drilled by BHP/Cobre on the adjoining property.
A new RC drill programme is being planned for PL253 to further test this recently identified target.

Colin Bird Chairman & CEO said: "We are very pleased with the outcome of the re-evaluation of our previous holes on the KCB. Since the original drilling was carried out various companies have developed new models and concepts in the general KCB belt. In addition to the initial aeromagnetic surveying and drilling, Galileo has more recently carried out soil sampling and ground geophysics and followed up by undertaking the current review of the earlier drilling results. We have developed enough confidence in our modelling to undertake further drilling in the near term to test the copper potential of our ground, commencing on PL253, where our ground is well positioned relative to recent competitor discovery and intensive exploration."

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Technical Glossary

"bornite"	A high-grade copper-iron sulphide mineral, Cu5FeS4, often found in copper ores.
"chalcocite"	A high-grade copper sulphide mineral, Cu 2 S, found in zones of secondary enrichment of copper ores.
"chalcopyrite"	A copper-iron sulphide mineral, CuFeS2, often found in copper ores.
"Cu"	Copper
"pXRF"	A field-portable version of traditional X-ray fluorescence (XRF) spectroscopy, allowing for rapid, on-site analysis of various materials.

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