Galileo Resources PLC (LON:GLR) has identified several potential drill targets after completing the geophysics survey on the Shirley Trend at its Concordia copper project in South Africa.
The junior miner said the survey showed three high-chargeability zones from near surface to around 500 metres in depth, similar to those found in the Homeep Trend last month.
Chargeability effects are often associated with the presence of sulphide mineralisation, so high-chargeability zones are a good place to start initial drill tests.
“The results of our geophysics programme are highly encouraging with clear definition for drill hole targeting,” said chairman and chief executive Colin Bird.
“A limited drilling programme is expected to commence early in the New Year and on completion, the company will either elect to drill the Shirley Trend or extend geophysics to other areas.”
A final report collating all of the geophysical data on the Homeep and Shirley trends is expected in January which the company will use to plan the next exploration phase.
The total geophysics programme to data has only partially covered two of the 11 priority prospects on Concordia.
Shares were unchanged at 1.7p.