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

Galileo exploration work yields encouraging results

The work also revealed the the potential for near surface ore bodies and an increase in “chargeability” at deeper levels.
Galileo exploration work yields encouraging results
Site visit to Concordia in South Africa's Northern Cape Province

Galileo Resources PLC (LON:GLR) said the geophysics data from its field exploration and induced polarisation (IP) imaging programming of the Concordia Copper Project in South Africa had yielded some interesting results.

The chargeability 3D model for the Homeep East prospect correlates well with historic drilling activity, it told investors.

However the best three geophysics signatures are for areas that so far have not been tested. They “provide prime targets for exploration”, Galileo said.

The work also revealed the the potential for near surface ore bodies and an increase in “chargeability” at deeper levels.

This is “particularly encouraging” for Galileo, said chief executive Colin Bird, as most copper producers are confined to either mining limited tonnage of high grade material or bulk tonnage of low grade ore.

“Our results suggest we could be targeting a mix of the two and it is always beneficial to have a high-grade component in any bulk mining operation,” said Bird.

“The initial drill programme will be designed to establish a correlation of the geophysics with sulphides and attach potential copper grades to chargeability levels.”

Drilling is expected to get underway later this quarter.

View full GLR profile View Profile

Galileo Resources PLC Timeline

Related Articles

Peak Resources Ltd’s Darren Townsend talks rare earths in Proactive Q&A Sessions™
November 23 2016
Darren Townsend presented at Mines and Money Melbourne.
galileo resources team at Concordia copper project
May 15 2017
“We consider the drill programme a success and consider our in-house model for Concordia is developing favourably towards a major copper resource”
elk-petroleum_brad-lingo-757.jpg
February 03 2017
Brad Lingo discussed with investors ELK's assets in the U.S.

© Proactive Investors 2017

Proactive Investor UK 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