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Galena Mining projected to have one of world’s largest lead mines

An aggressive timeline aims for production within 2.5 years.

aerial map of the proposed mine concept
Hyperion represents an opportunity to expand Abra further

Galena Mining Ltd (ASX:G1A) has confirmed in a recent scoping study that its 100%-owned Abra Base Metals Project in Western Australia is globally significant.

It is projected to be the fifth or sixth largest lead mine in the world with a base case pre-tax post royalties NPV10 of $394 million.

READ: Galena Mining buoyed by positive economics in Abra Base Metals Project scoping study

Galena has an aggressive timeline to start construction at Abra in the September quarter 2019 with planned extraction of first mineralisation in the March quarter of 2021.

As per the timeline, the pre-feasibility study (PFS) is due September 2018 followed by the feasibility study in mid-2019.

The recent scoping study confirmed Abra as an economically and technically robust opportunity, with potential to become a significant, long-life, high margin lead-silver producer.

Considerable exploration potential also exists for additional lead-silver mineralisation to be converted to JORC resource with additional drilling.

 

Quick facts: Galena Mining Ltd

Price: 0.305 AUD

ASX:G1A
Market: ASX
Market Cap: $115.05 m
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Full interview: Galena Mining ramps up surface infrastructure development at...

Galena Mining Ltd (ASX:G1A) managing director Alex Molyneux updates Proactive on increased surface infrastructure development activities at the Abra Base Metals Project in the Gascoyne region of WA. This forms part of a $15 million development works program. The work is being done prior to...

on 10/10/19

2 min read