Last checked at 1 Mar 2017 11:07
For immediate release
1 March 2017
Galileo Resources Plc
("Galileo" or "the Company")
General Update
In light of the recent rise in the Company's share price, the Board would like to take this opportunity to remind Shareholders of the Company's current activities:
· The Company's principal focus remains on its Concordia copper project in South Africa; as announced on 15 February 2017, an exploratory drilling programme is underway to test the reliability of certain geophysics anomalism in identifying mineralisation targets;
· The Company has farmed out an interest in the Silverton gold prospect in Nevada, USA to Orogen Gold Plc (as announced on 27 June 2016); as announced on 9 January 2017, Orogen are assessing the recent exploratory drilling results prior to consideration of further work; and
· The Company continues to investigate potential avenues for disposal or development in relation to its JV in the Glenover phosphate project.
There are no new material developments.
ENDS
For further information, please contact:
Galileo Resources PLC Colin Bird, Chairman | Tel +44 (0) 20 7581 4477 |
Andrew Sarosi, Executive Director | Tel +44 (0) 1752 221937 |
Beaumont Cornish Limited - Nomad Roland Cornish/James Biddle | Tel +44 (0) 20 7628 3396 |
Beaufort Securities Limited - Broker Jon Belliss | Tel +44 (0) 20 7382 8416 |