Crocus-Serv’s assets include 21 exploration prospecting licences, covering a total 14,875km2 area
UK-based Galileo Resources has completed the acquisition of Crocus-Serv, a Botswana-based company that owns copper exploration assets.
The company’s assets include 21 exploration prospecting licences, covering a total 14,875km2 area. Out of 21 PLs, 19 are located in the Kalahari Copper Belt (KCB) in the western Botswana and 2 in the Limpopo Mobile Belt (LMB) in north eastern Botswana.
Colin Bird CEO said: “We are pleased to have completed this acquisition of Crocus with its copper- licences in the highly prospective Kalahari Copper Belt and nickel-copper-platinum group metal licences in the Limpopo Mobile belt in Botswana.
“The Galileo team look forward to commencing exploration on the properties with the complementary benefit of Crocus’s in-country experience in technical and regulatory administrative matters.”
Details of prospecting licences acquired by Galileo
The LMB is a wide zone of continental collision traversing parts of Botswana, Zimbabwe and South Africa. The project consists of two prospecting licences covering 311km2 on land located about 400km northeast of Gaborone, near the border with Zimbabwe.
The KCB agreement covers prospecting licences extending over 14,564km2 located approximately 500km to the northwest of Gaborone, the capital of Botswana.
It spans over 800km of strike and contains multiple recent copper-silver discoveries, which are generally stratabound and hosted in metasedimentary rocks.
The geological setting is comparable to that of the Central African Copper Belt and the Kupferschiefer in Poland, and the deposits are generally blanketed by Kalahari sands, ranging from 2-60m in thicknesses which have kept them hidden from discovery until recent times.
The company stated: “Galileo plans to review the limited historic exploration information and to focus on the base of the prospective Proterozoic D’Kar Formation in fold hinge settings.
“Follow-up is envisaged to encompass acquisition of available airborne magnetic data, ground geophysical surveying, including detailed magnetics and EM, along with soil geochemistry, with initial targeting close to known copper-silver discoveries.”