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Galileo Resources PLC - London-based mining company focused in the US and Africa - Signs contract for 3,000 metres of core drilling on potentially open pittable copper deposit at Luansobe project in Zambia.
Drilling is to start immediately, with the aim to complete mineral resource estimates, that will be used as the basis for potential open pit mine planning.
‘Re-examination of the old drill core found previously unrecognised copper-bearing zones of significant length. The work undertaken adds value to the modelling of a potential open pit and the new drill programme will define the extent and copper content, if any, of pre-strip for such a pit. We will aim to put a development contract out to tender early in Q4 2022,’ said Chair and CEO Colin Bird.
Current stock price: 0.95 pence, up 3.1% on Thursday
12-month change: down 21%
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