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Galena Mining confirms high-grade mineralisation outside Abra resource

Last updated: 02:36 10 Sep 2018 BST, First published: 12:36 09 Sep 2018 BST

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The PFS is on track towards completion in September

Galena Mining Ltd (ASX:G1A) has confirmed high-grade mineralisation adjacent to the existing resource area at its Abra Base Metals Project in Western Australia.

Assays from four new drill holes have delineated the mineralisation just 150 metres outside the Abra resource estimate posted in March 2018.

The drilling is part of a 20-hole infill and development program aiming to upgrade the resource volume and test for extensions in the lead-up to a pre-feasibility study.

 

One hole from the newly discovered area gave results of: 16.2 metres at 9.2% lead and 44 g/t silver, including 4.5 metres at 15.1% lead and 44 g/t silver; and 6 metres at 14.5% lead and 28 g/t silver.

Other highlighted assays include: 6 metres at 11.8% and 19 g/t silver; and 4.6 metres at 5.9% lead and 19 g/t silver.

Galena managing director Alex Molyneux said: “These results are very exciting because they confirm high-grade mineralisation extends 150 metres beyond the existing resource model mineralised area.

“This bodes well for achieving our resource development ambitions when we come to publish an updated mineral resource estimate.”

 

READ: Galena Mining hits further high-grade lead, likely to add to Abra resource

The high-grade results come from the shallower north-western area of the Abra deposit, very near the currently proposed access decline.

The mineralisation remains open along strike to the northwest as well as down-dip.

It is likely the newly-identified mineralisation will provide additional inventory for the earliest years of mining based on Galena’s current mine plan.

READ: Galena Mining appoints Alex Molyneux as MD as it transitions to base metal producer

Abra is a high-grade lead-silver deposit with additional copper-gold mineralisation, halfway between the towns of Newman and Meekatharra and 110 kilometres from the DeGrussa Copper Mine owned by Sandfire Resources NL (ASX:SFR).

The recently posted Abra scoping study confirmed the project as an economically and technically robust opportunity, with potential to become a long-life, high-margin West Australian lead-silver producer.

Galena remains on-track to complete a pre-feasibility study due this month.

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