**Summary**
Galileo Resources Plc (AIMGLR) has signed a **Collaboration Agreement** with Jubilee Metals Group PLC (AIM:JLP, Altx:JBL) for the **Molefe Project** in Zambia. The agreement combines Galileos exploration and geological expertise with Jubilees operational and processing capabilities to accelerate the development of the Molefe Mine and explore similar copper projects in Zambia.
**Key Highlights**
1. **Earn-in Opportunity** Galileo will fund a **US$700,000 exploration and resource program** to earn up to **23.75%** interest in the Molefe Mine holding company, with Jubilee retaining **71.25%** and a local Zambian firm holding **5%**.
2. **Accelerated Development** The Molefe Mine will be placed on an accelerated path, focusing on operational management, on-site processing facility implementation, and resource definition through exploration drilling.
3. **Strategic Collaboration** The partnership aims to identify and develop small to medium-sized copper mining opportunities in Zambia, leveraging both companies expertise to create cash flow-generating assets.
4. **Molefe Mine Status** Currently operating at **4,500 tonnes per month (tpm)** of high-grade ore, with plans to scale up to **8,500 tpm** by Q3 FY2026. Approximately **2.2 million tonnes** of low-grade ore has been stockpiled for future on-site processing.
5. **Governance** An executive committee and board will oversee the project, with representation from both Galileo and Jubilee.
**Background**
The Molefe Mine consists of nine initial <mark style="background-color:yellow">test</mark> pits, with only Pit 5 developed so far. Drilling results indicate the presence of copper sulphide beneath existing oxide material. Jubilee plans to merge satellite pits into one large open-pit for increased efficiency.
**Leadership and Disclosure**
Colin Bird, Chairman & CEO of Galileo, emphasized the unique skill set brought by the collaboration. Christopher Molefe, a non-executive director of Jubilee, recused himself from board discussions on the agreement.
**Next Steps**
Galileo will announce interim results for H1 2025 in December, including updates on other projects in Zambia and Zimbabwe.
**Contact and Follow-Up**
Further information is available via Galileos X account (@GalileoResource) and through designated contacts, including Colin Bird and the companys advisors.
This agreement marks a strategic initiative to capitalize on Zambias copper potential, combining exploration, development, and operational expertise.