logo-loader
Mining
Galileo Resources PLC

Galileo Resources focused on existing assets

mining350_4b1d036cc21ba.jpg

Rare earths and gold explorer Galileo Resources (LON:GLR) is to direct its efforts on its two existing assets while the  climate for juniors remains so tough.

The group holds a stake in Glenover, a rare earth/phosphates prospect in South Africa, and Ferber a gold tenement in Nevada near to the recent gold discoveries at Long Canyon and Kinsley Mountain.

At Glenover, Galileo said the aim is strategic funding partnership to advance the project to full feasibility study.

At Ferber, and in light of recent major gold finds in Nevada, Galileo is reviewing historical production data as the basis of a future exploration program. 

Ferber is approximately 12 kilometres east of Kinsley Mountain, it added. 

Losses for the six months to September were £277,000 (2013:loss of £1.35mln). 


Quick facts: Galileo Resources PLC

Price: £0.01

Market: AIM
Market Cap: £2.71 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Galileo Resources PLC named herein, including the promotion by the Company of Galileo Resources PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Galileo Resources hits 'exceptionally' high grades at Star Zinc project

Colin Bird, chief executive at Galileo Resources PLC (LON:GLR), tells Proactive's Andrew Scott they've struck 'exceptionally' high zinc grades of between 41.51% and 46.58% across three holes drilled as part of a wider swathe of drilling on the Star zinc project in Zambia. So far, 26...

on 10/4/18

2 min read