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"Smelters will be lining up to try and buy the product" says Galena Mining's CEO

Galena Mining Ltd (ASX:G1A) chief executive Ed Turner updates Proactive Investors on the exploration and development company’s progress since it “hit the ground running” after floating on the ASX last September.

Metallurgical testing results have just been announced from the flagship Abra Project, a world-class base metals deposit with a globally significant resource of lead-silver which transitions into gold-copper rich mineralisation at depth. A pre-feasibility study (PFS) is underway and scheduled to complete in September, at which point a bankable feasibility study (BFS) will commence.

Turner explains, “what was very positive out of today's results is we're getting at least 72% lead in the concentrate plus 150-200 grams per tonne silver, so that exceeded our expectations. The average sort of concentrate on a similar type deposit might be 60% for example, and plus 70% recovery is very good. So this is highly salable product, and a lot of smelters will be lining up to try and buy the product from us."

Meanwhile, regional exploration is ongoing, with drilling active at the Woodlands copper targets within the Jillawarra Project.

Quick facts: Galena Mining Ltd

Price: 0.36 AUD

ASX:G1A
Market: ASX
Market Cap: $166.63 m
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Galena Mining looks ahead to further project construction after completing...

Galena Mining Ltd's (ASX:G1A) Alex Molyneux speaks to Proactive's Andrew Scott soon after announcing they've completed the funding package for the Abra Base Metals Project. It follows an agreement with Taurus Mining Finance Fund No2 LP for US$110 million in project financing debt facilities....

on 16/11/20

2 min read