StockMarketWire.com - Mining company Galileo Resources said it had conditionally acquired Africibum and its interests in the North East Kalahari Copper Belt project in Botswana.

The consideration payable included 42m Galileo shares at 0.779p each and 10m warrants, with a two-year expiry date with an exercise price of 2p each.

Galileo said the related tenement lay within 15 kilometres of major copper-silver discoveries.

'The target areas have already been reconnaissance drilled and copper intercepts have been received,' executive chairman Colin Bird said.

'The area known prospectivity is some 14 kilometres in length and other areas require geophysics and geochemical work before prospectivity establishment.'


At 2:28pm: [LON:GLR] Galileo Resources share price was +0.03p at 0.81p



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