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Galileo Resources PLC - London-based mining company focused in the US and Africa - At the Luansobe copper project in Zambia, pXRF testing of the historical drill core identifies an upper mineralised zone of moderate copper grade, with some higher grade intervals.
Newly discovered mineralisation has potential to add incremental value to an open pit mining operation.
"We are receiving very satisfactory results from our work on historic drill core at the Kalulushi core shed, with positive results to date. Of most encouragement is that there exists a shale unit which appears to be copper-bearing and, in places, of significant thickness. The preliminary hand-held XRF analysis suggests significant individual copper grade values, subject to full laboratory assay testing. The fact that we can access this old core is extremely cost and time effective, reducing the amount of new drilling that will be required," says Chair and Chief Executive Colin Bird.
Current stock price: 1.07 pence
12-month change: down 43%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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