Galena Mining Ltd (ASX:G1A) has added value to its impressive lead and silver strategy at the Abra project in Western Australia with high-grade gold results from recent drilling.
An 8-metre intersection from 706 metres that assayed 9.5 g/t gold, 1.4% lead, 0.6% copper and 77 g/t silver is the highest grade gold intersection drilled at the project to date.
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This mineralisation is outside the Abra JORC resource of 36.6 million tonnes 7.3% lead and 18 g/t silver at a 5% lead cut-off and highlights the exciting future potential.
Also providing further encouragement was the highest grade lead intersection from the Apron Zone to date of 15.4 metres at 25.9% lead and 74 g/t silver from 519.1 metres.
Also within this hole, AB83, was 7.7 metres at 41.7% lead and 116 g/t silver.
Galena CEO Ed Turner said: ”We are extremely pleased with these results as they continue to support our geological and resource model for the Abra deposit which drives our optimisations.
“The exceptional high-grade lead-silver and gold-copper mineralisation intersected in AB83 provides further encouragement as, like AB82, was in areas designated as inferred in the JORC resource.
“Significant high-grade gold intercepted was unexpected and adds support to further investigating an increasingly interesting copper-gold story at depth below the base of the current JORC resource.”
The latest results are from an infill drilling program designed to increase confidence in parts of the resource within the pre-feasibility study that commenced in late May.
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This 8,400-metre program is based on underground optimisation work included in a scoping study released last month.
It is designed to convert inferred resources to indicated resources and support Galena’s ongoing study work.
In addition, drilling will test for extensions to lead-silver mineralisation in several key areas where there is potential to add to the resource.
Apron Zone is primary target
Drilling is primarily targeting the stratiform Apron Zone, which is the most laterally continuous mineralisation and will be the focus of early stage underground development.
The 1AB83 15.4-metre intersection is not only within inferred rather than indicated material but is also outside current planned stopes.
This hole also intersected 5.76 metres at 9.6% lead and 29 g/t silver from a hydrothermal vein zone within the underlying Core Zone.
Hole AB82 returned 4.2 metres at 8.1% lead and 14 g/t silver from the Apron Zone and this intersection is within the current inferred material.
Very high-grade stratiform lead-silver mineralisation from core in AB83.
Assays pending for six holes
Assays are pending for six additional holes and Galena anticipates further highly encouraging results.
Two drill rigs are on site with the program expected be completed in early August.
Turner said: “We look forward to releasing further results from this drilling program in coming weeks and the results of a pre-feasibility study for which we are fully funded.
“This study will be completed in the current quarter.”
Technically robust opportunity
The scoping study confirmed Abra as an economically and technically robust opportunity, with the potential to become a significant, long-life, high-margin West Australian lead-silver producer.
Galena plans to quickly advance the project through to the pre-feasibility stage in September 2018 and then to feasibility in 2019.