Business
Update on Concordia Copper Project
Update on Concordia Copper Project.
About this update from Galileo Resources Plc
[{"type":"text","content":"\n \nRNS Number : 2524B Galileo Resources PLC 15 June 2016 \n\n \n \n \nFor immediate release\n \n15 June 2016\nGalileo Resources Plc\n(\"Galileo\" or \"the Company\")\n \nUpdate on Concordia Copper Project\n \nGalileo (AIM: GLR), the exploration and development mining company, is pleased to announce significant positive progress with its initial independent study (as prepared by Minxcon Consulting) on the Concordia Copper project (the \"Project\" or \"Concordia\") in the OKiep Copper District in the Namaqualand Complex in the Northern Cape Province of South Africa. \n \nHighlights\n· Raw data review confirms prognosis for large-scale copper targets at Concordia\n· Four areas confirmed previous estimates and have been announced \n· In total eleven areas have been identified, at least five of which demonstrate considerable near-surface potential\n· Data package available allowed detailed modelling techniques not available in the early 1970s\n· Low-cost ground investigation comprising detailed mapping, induced polarisation (IP) geophysics and geochemistry planned for next exploration stage \n· The review has identified tungsten potential in historical mining areas.\n \nColin Bird, Chairman and CEO said: \"When we embarked on this exercise we were optimistic that our current view would be confirmed independently. This view has now been confirmed and extended to other areas in Concordia with five areas showing significant potential for meeting our target criteria. We expect to complete phase 1 (desktop study) in early July and immediately progress to ground-truthing and possibly resource modelling with current available data. A bonus of this exercise has been the discovery of wolframite trends on the property; wolframite being a primary ore mineral of tungsten, the current 180-day ore price of which is up by some 10% to date.\" (source http://www.asianmetal.com/TungstenPrice/Tungsten.html) \n \nGalileo is currently nearing the end of a desktop study of their Concordia Copper Project aimed at confirming historical prospective areas and identifying additional targets for assessment. Eleven promising high priority target areas...