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Galileo Resources ( (GB:GLR) ) has provided an update.
Galileo Resources has confirmed copper mineralisation at its 100%-owned PL253 licence in Botswana’s Kalahari Copperbelt following laboratory assays from a four-hole reverse circulation drilling programme. Assays from vertical hole QTRC014 show copper-enhanced intervals between 66m and 115m, including a peak 5m section grading 0.34% copper from 79m to 84m and a 1m interval at 0.84% copper within D’Kar Formation siltstones, a key host rock in the region. The discovery of copper oxide mineralisation beneath sand cover, combined with the Botswana Department of Mines’ renewal of PL253 through to the end of 2027, strengthens Galileo’s strategic position in the Kalahari Copperbelt and supports its plans to integrate new geological, geophysical and geochemical data to design a follow-up drilling campaign.
The most recent analyst rating on (GB:GLR) stock is a Hold with a £0.92 price target. To see the full list of analyst forecasts on Galileo Resources stock, see the GB:GLR Stock Forecast page.
Spark’s Take on GB:GLR Stock
According to Spark, TipRanks’ AI Analyst, GB:GLR is a Neutral.
The score is held back primarily by weak operating fundamentals (no revenue, negative EBIT) and persistent cash burn, only partially offset by a debt-free balance sheet. Technicals are modestly supportive with the price above key moving averages and neutral momentum. Corporate developments add some upside optionality via partnerships and drilling progress, but near-term funding and execution risk remains elevated.
To see Spark’s full report on GB:GLR stock, click here.
More about Galileo Resources
Galileo Resources PLC is a mineral exploration company focused on copper and other base metals, with active projects in the Kalahari Copperbelt of Botswana. The company acquires and explores prospecting licences in geologically prospective regions, targeting copper-bearing formations to build a pipeline of potential mining assets.
Average Trading Volume: 1,776,749
Technical Sentiment Signal: Hold
Current Market Cap: £12.44M
Find detailed analytics on GLR stock on TipRanks’ Stock Analysis page.