Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Galileo Resources says eleven targets now at Concordia

Five of these have near surface potential said Colin Bird, Galileo’s chief executive
Picture of copper wires
Low-cost ground investigation comprising detailed mapping, induced polarisation (IP) geophysics and geochemistry is planned next.

An independent desktop review has now identified eleven potential target areas at the Concordia copper project in South Africa, said Galileo Resources (LON:GLR).

Five of these have near surface potential said Colin Bird, Galileo’s chief executive, with tungsten potential also identified in historic mining areas.

Low-cost ground investigation comprising detailed mapping, induced polarisation (IP) geophysics and geochemistry is planned next. 

Bird said: "When we embarked on this exercise we were optimistic that our current view would be confirmed independently.

“We expect to complete phase 1 (desktop study) in early July and immediately progress to ground-truthing and possibly resource modelling with current available data.

“A bonus of this exercise has been the discovery of wolframite trends on the property; wolframite being a primary ore mineral of tungsten, the current 180-day ore price of which is up by some 10% to date.”

Galileo can earn-in a 51% beneficial interest in Concordia copper project with R10mln (approximately £500,000) of exploration over 14 months. 

View full GLR profile View Profile

Galileo Resources PLC Timeline

Related Articles

Picture of gold bar
March 21 2018
Dandoko is in the Kenieba inlier where more than 50-million ounces of gold have been discovered.
graphite concentrate
Tue
Volt is currently completing the environmental approval for the Bunyu project and has lodged two mining licence applications.
Cobalt sample on the periodic table
May 23 2018
One of Australia’s few potential cobalt producers from sulphide-based deposits, where cobalt production is underpinned by copper and gold.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use