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Galileo surges as it starts drilling at Concordia

The shares rose 6% as the company confirmed drilling at the South African copper project will start today
Galileo field team
The Galileo team check out the lie of the land

Galileo Resources PLC (LON:GLR) revealed drilling is set to kick off today at its Concordia copper project in the Northern Cape Province of South Africa.

The drilling programme will initially comprise up to six reverse circulation drill holes down to 300 metres depth.

The drilling programme is exclusively focused on testing the reliability of geophysics anomalism in identifying mineralisation targets, Galileo said.

"The initial drill programme is designed essentially to establish a correlation between the geophysics and sulphide mineralisation and attach potential copper grades to the geophysics chargeability levels,” said Colin Bird, Galileo’s chief executive officer.

“The drilling results, if successful, would prove that the geophysics will be an essential part of any future resources drilling programme and as such is very important. We look forward to the results and factoring its conclusions overall into our Concordia project," he added.

Shares in Galileo rose 6% to 4.08p in early deals.

 

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