08:00 Wed 27 Apr 2016
Galileo Resources - Concordia Copper Mineralisation
For immediate release
("Galileo" or "the Company")
Update on Concordia Copper Mineralisation
Galileo (AIM: GLR), the exploration and development mining company, is pleased to announce a previous exploration area, namely Rietberg, one of several areas within the Concordia project area (Project Area) has been identified from the extensive exploration data base (Data Base), acquired by way of the Cooperation and Joint Venture Agreement with
Highlights from Rietberg include
· The area is approximately 10km northwest from the previously reported Wheal Julia modelled area
· Wide mineralised weighted-average copper (Cu) runs greater than 50 metres (m) and up to 100 m thick range from 0.49% Cu (92m) to 1.83 % Cu (53m) - Table 2 below
· High grade intersections with a 0.35% Cu cut-off applied are numerous with significantly thick intersections
· Most holes over 1.0% Cu within 100m of the surface. Most impressive intersections include 11.0m at 5.0% Cu within 25m of surface, 18.3m at 2.68% Cu from 64m and 64.3m at 1.11% Cu from 70m
· 3D and resource estimate modeling to commence early May
· Other Concordia areas emerging with similar characteristics to Rietberg
· Copper mineralisation strongly associated with diorite rock type, which was previously considered low grade and therefore uninteresting at the time prevailing.
Selected drill hole results
Drill Hole RU no. |
From (m) |
To (m) |
Down-hole (m) |
Weighted average % Cu |
481 |
32.0 |
49.8 |
17.8 |
1.62 |
555 |
64.3 |
81.1 |
18.3 |
2.68 |
566 |
33.8 |
134.4 |
100.6 |
0.75 |
619 |
68.9 |
125.5 |
56.6 |
1.07 |
660 |
60.7 |
123.7 |
63 |
1.17 |
668 |
41.3 |
94.3 |
53 |
1.83 |
Full data in Tables and 1 and 2 below
Galileo has the right to earn-in a 51% beneficial interest in the Concordia copper project, by way of 51% beneficial shareholding in
Galileo continues to review the Data Base, which comprises extensive geological exploration data including mapping sampling, geophysics, and some 1 300km of drilling from previous exploration by others including OCC in the Okiep Copper district and the Project Area.
Further details are available from the Company's website which details the company's project portfolio as well as a copy of this announcement: www.galileoresources.com
ENDS
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You can also follow Galileo on Twitter: @GalileoResource
For further information, please contact:
|
Tel +44 (0) 20 7581 4477 |
|
Tel +44 (0) 1752 221937 |
Beaumont Cornish Limited - Nomad |
Tel +44 (0) 20 7628 3396 |
|
Tel +44 (0) 20 7382 8416 |
Table 1 Summary of Rietberg Data Base results for selected mineralised Drill holes extracted from the
Weighted averages are calculated by the sum of the product of the length of each of the intersections assayed down-hole and its assay divided by the total length of the intersection using >0.35% Cu for beginning and end of selected mineralised intersection.
Drill hole |
From |
To |
Down-hole length |
Length-weighted average Cu |
ID (RU No). |
m |
m |
m |
% |
476 |
33.5 |
47.5 |
15.5 |
1.11 |
|
|
|
|
|
477 |
30.2 |
48.5 |
18.3 |
1.08 |
incl |
31.7 |
33.8 |
2.1 |
2.73 |
incl |
36.6 |
41.5 |
4.9 |
1.33 |
|
|
|
|
|
|
|
|
|
|
481 |
32.0 |
49.8 |
17.8 |
1.62 |
inc. |
42.5 |
49.8 |
7.3 |
2.84 |
|
|
|
|
|
484 |
44.8 |
48.9 |
4.1 |
2.26 |
|
|
|
|
|
522 |
20.1 |
45.4 |
25.3 |
2.34 |
incl |
34.4 |
45.4 |
11.0 |
5.00 |
|
|
|
|
|
525 |
84.1 |
96.3 |
12.2 |
0.57 |
|
|
|
|
|
541 |
82.9 |
102.7 |
19.8 |
0.79 |
|
|
|
|
|
546 |
17.9 |
26.2 |
8.3 |
1.25 |
incl |
23.1 |
26.2 |
3.1 |
2.41 |
|
|
|
|
|
549 |
26.5 |
51.8 |
25.3 |
0.83 |
incl |
45.1 |
51.8 |
6.7 |
2.75 |
|
|
|
|
|
550 |
21.0 |
26.2 |
5.2 |
1.38 |
|
|
|
|
|
554 |
87.5 |
101.2 |
13.7 |
1.19 |
|
|
|
|
|
555 |
64.3 |
81.1 |
18.3 |
2.68 |
|
|
|
|
|
558 |
80.2 |
88.4 |
8.2 |
1.44 |
|
|
|
|
|
559 |
56.1 |
141.7 |
85.6 |
0.58 |
incl. |
56.1 |
74.1 |
18.0 |
0.64 |
incl. |
106.7 |
141.7 |
35.1 |
1.02 |
|
|
|
|
|
564 |
77.4 |
166.4 |
89.0 |
0.84 |
incl. |
81.1 |
104.5 |
23.5 |
1.00 |
incl |
127.1 |
159.1 |
32.0 |
1.42 |
incl |
134.4 |
159.1 |
25.0 |
1.70 |
incl |
134.1 |
143.3 |
9.1 |
3.31 |
|
|
|
|
|
566 |
33.8 |
134.4 |
100.6 |
0.75 |
incl. |
70.1 |
85.6 |
15.5 |
1.11 |
incl. |
70.1 |
134.4 |
64.3 |
1.12 |
incl. |
104.8 |
134.4 |
29.6 |
1.77 |
|
|
|
|
|
567 |
64.9 |
100.0 |
35.1 |
1.02 |
incl |
64.9 |
93.6 |
28.7 |
1.16 |
incl |
77.4 |
88.1 |
10.7 |
1.57 |
|
|
|
|
|
569 |
48.2 |
62.8 |
14.9 |
0.87 |
|
|
|
|
|
574 |
90.8 |
121.6 |
30.8 |
0.80 |
incl. |
100.6 |
108.2 |
7.6 |
1.34 |
|
|
|
|
|
578 |
89.9 |
148.7 |
59.7 |
0.53 |
|
|
|
|
|
592 |
71.9 |
112.5 |
40.5 |
0.93 |
incl |
89.0 |
103.6 |
14.6 |
1.38 |
|
|
|
|
|
606 |
101.4 |
127.7 |
26.3 |
1.57 |
incl |
106.1 |
114.4 |
8.3 |
1.84 |
|
|
|
|
|
607 |
89.4 |
157.4 |
68.0 |
0.6 |
incl. |
89.4 |
128.3 |
38.9 |
0.89 |
incl. |
102.5 |
109.4 |
6.9 |
2.10 |
|
|
|
|
|
608 |
156.4 |
173.1 |
16.7 |
1.34 |
|
|
|
|
|
610 |
83.5 |
102.7 |
19.2 |
0.77 |
|
|
|
|
|
612 |
100.1 |
192.2 |
92.1 |
0.49 |
|
|
|
|
|
612D1 |
149.1 |
190.9 |
41.8 |
1.40 |
|
|
|
|
|
614D4 |
134.4 |
171.6 |
37.2 |
1.17 |
incl |
134.4 |
151.7 |
17.3 |
1.71 |
|
|
|
|
|
615 |
100.3 |
135.6 |
35.3 |
0.77 |
incl. |
121.7 |
135.6 |
13.9 |
1.09 |
|
|
|
|
|
616 |
108.3 |
140.1 |
31.8 |
1.03 |
incl. |
108.3 |
126.0 |
17.7 |
1.56 |
|
|
|
|
|
617D1 |
168.0 |
177.0 |
9.0 |
2.13 |
|
|
|
|
|
618 |
58.5 |
71.0 |
12.5 |
1.26 |
|
|
|
|
|
619 |
68.9 |
125.5 |
56.6 |
1.07 |
incl |
68.9 |
91.0 |
22.1 |
1.46 |
incl |
110.2 |
125.5 |
14.5 |
1.71 |
|
|
|
|
|
620 |
145.2 |
207.0 |
61.8 |
1.09 |
incl |
145.2 |
155.5 |
10.3 |
2.42 |
incl |
145.2 |
168.0 |
22.8 |
2.11 |
|
|
|
|
|
625 |
191.2 |
238.2 |
47 |
1.03 |
incl |
191.2 |
208.2 |
17 |
1.42 |
incl |
217 |
235.8 |
17.7 |
1.32 |
|
|
|
|
|
634 |
147 |
171.5 |
24.5 |
1.83 |
|
|
|
|
|
640 |
82.2 |
98.6 |
16.4 |
1.34 |
|
|
|
|
|
642 |
87.2 |
105.7 |
18.5 |
0.95 |
|
|
|
|
|
644 |
93.4 |
112 |
18.6 |
1.18 |
|
|
|
|
|
645 |
147.5 |
182.3 |
34.8 |
1.67 |
incl |
147.5 |
178.8 |
31.3 |
1.81 |
|
|
|
|
|
648 |
129.2 |
164.2 |
35 |
1.07 |
incl |
131.2 |
135.6 |
6.4 |
2.45 |
|
|
|
|
|
651 |
117.4 |
150.1 |
32.7 |
1.46 |
incl |
134 |
145.5 |
11.5 |
2.58 |
|
|
|
|
|
652 |
82.6 |
103 |
20.4 |
1.08 |
incl. |
89.4 |
98.7 |
9.3 |
1.50 |
|
|
|
|
|
653 |
120.3 |
136.9 |
16 |
1.95 |
|
|
|
|
|
654 |
123.5 |
151 |
27.5 |
1.32 |
incl |
123.5 |
135 |
11.5 |
1.90 |
incl |
146 |
151 |
5 |
2.61 |
|
|
|
|
|
655 |
74 |
94.5 |
20.5 |
1.02 |
|
|
|
|
|
656 |
108.6 |
156.3 |
47.7 |
0.65 |
incl |
134 |
156.3 |
22.3 |
0.87 |
|
|
|
|
|
657 |
73.7 |
92.6 |
18.9 |
0.90 |
|
|
|
|
|
660 |
60.7 |
123.7 |
63 |
1.17 |
incl |
96.3 |
123.7 |
27.4 |
1.79 |
|
|
|
|
|
665 |
49.3 |
109 |
59.7 |
0.49 |
|
|
|
|
|
668 |
41.3 |
94.3 |
53 |
1.83 |
incl |
63.8 |
74.3 |
10.5 |
4.26 |
incl |
59.4 |
76.1 |
16.7 |
2.82 |
incl |
63.8 |
94.3 |
30.5 |
2.64 |
Table 2 Summary - >50m-wide mineralised intersections extracted from the
The wide mineralised intersections begin and end with the first mineralised intersection and the last mineralised intersection greater than 0.35% Cu and includes all core assays in between.
Drill hole |
From |
To |
Down-hole length |
Length-weighted average Cu |
ID RU No. |
m |
m |
m |
% |
559 |
56.1 |
141.7 |
85.6 |
0.58 |
|
|
|
|
|
564 |
77.4 |
166.4 |
89.0 |
0.84 |
|
|
|
|
|
566 |
33.8 |
134.4 |
100.6 |
0.75 |
|
|
|
|
|
578 |
89.9 |
148.7 |
59.7 |
0.53 |
|
|
|
|
|
607 |
89.4 |
157.4 |
68.0 |
0.6 |
|
|
|
|
|
612 |
100.1 |
192.2 |
92.1 |
0.49 |
|
|
|
|
|
619 |
68.9 |
125.5 |
56.6 |
1.07 |
|
|
|
|
|
620 |
145.2 |
207.0 |
61.8 |
1.09 |
|
|
|
|
|
665 |
49.3 |
109 |
59.7 |
0.49 |
|
|
|
|
|
668 |
41.3 |
94.3 |
53 |
1.83 |
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