- Galena Mining has received another batch of high-grade assay results from its Abra Base Metals Project
- Highest grade of silver ever found at the Abra Base Metals Project of 8 metres at 19.7 per cent lead and 516 grams per tonne of silver
- Results are continuing to support Galena’s objective to improve the geological confidence in the upper northwest section of Abra
Galena Mining has received another batch of high-grade assay results from ongoing drilling operations at its Abra Base Metals Project in Western Australia.
The Abra Base Metals Deposit is one of the largest, undeveloped lead deposits in the world and Galena holds a 100 per cent interest. It is located approximately 200 kilometres north of Meekatharra.
A 33 drill hole program, for 13,838 metres, was recently completed with results returning for three of them with four still pending.
Assays for the latest 14 holes feature: 14.1 metres at 12.7 per cent lead and 19 g/t silver, and 8 metres at 19.7 per cent lead and 516 g/t silver. This result is the highest ever silver result returned from Abra.
It is believed that this intersection appears to form part of a higher grade silver zone that may have the potential to further enhance the project economics.
These results are primarily from infill drilling of the upper northwestern section of Abra, within the footprint of its first three years of planned mine production. The drilling is designed to assist in project de-risking and for mine design work.
These results are also continuing to improve the geological confidence in the upper northwestern section of the inferred JORC resource.
Its JORC Resource from December 2018 contains a JORC Probable Ore Reserve of 10.3Mt at 8.8 per cent lead and 24 g/t silver and JORC Mineral Resource estimate of 37.4Mt (indicated and inferred) at 7.5 per cent lead and 18 g/t silver.
So far results from the 2019 drilling enhance the interpretations and estimations that were completed in December 2018. Galena is on its way to achieving one of its objectives of potentially converting a large portion of the northwestern mineralised zone Inyo indicated mineral resources.
This is important as it will improve the confidence in the upper part of the orebody which will be developed first in a top-down mining sequence.
Galena shares are up four per cent to trade at 39¢ as of 1:30pm AEST with a market cap of $136.6 million.