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.