Proactive Investors - Run By Investors For Investors

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.


View full GLR profile View Profile

Galileo Resources PLC Timeline

Related Articles

March 16 2017
Mark Wilson discussed with investors exploration on one of Australia's host post codes, the Fraser Range of Western Australia, with partner Creasy Group.
picture of Finland
January 16 2017
Rompas-Rajapalot is a relatively new discovery, but the potential is there for it to become a major gold ‘address’
picture of copper kettle
August 31 2017
Junior might have three mines in operation by the end of 2017

© 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