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Galena Mining hits best-ever lead-silver result at Abra Base Metals Project

The program has three objectives: lead-silver ore body infill, drilling into selected prospective ‘metal-rich’ zones for potential life of mine plan optimisation, and gold-copper exploration.

Galena Mining Ltd - Galena Mining hits the best ever high-grade lead-silver drill hole in Abra Base Metal drilling
Assays from the first five holes have now been received

Galena Mining Ltd (ASX:G1A) (FRA:GM6) has hit the best-ever high-grade lead-silver drill result at the Abra Base Metals Project in hole AB147 based on combined cumulative thickness and grade.

Hole AB147 returned up to 17.1% lead and 34 g/t silver, which is considered an outstanding success given it was planned to target a potential ‘metal-rich’ zone for life of mine plan optimisation.

Notably, the company has identified a potentially mineable domain around 30 metres closer to the surface than the shallowest currently planned mining zone.

High-grade results include:

  • 17.5 metres at 9.6% lead and 34 g/t silver from 266.2 metres;
  • 20.9 metres at 7.3% lead and 20 g/t silver from 288.1 metres;
  • 35.5 metres at 15.1% lead and 22 g/t silver from 321.8 metres; and
  • 8.9 metres at 17.1% lead and 26 g/t silver from 366.2 metres.

"Astounded at the success"

Managing director Alex Molyneux said: “We’re astounded at the success of hole AB147 in targeting a potential ‘metal-rich’ combination of grade and thickness on the northern part of the eastern limb of Abra’s indicated resource area, which is shallow and close to the current plan for early decline infrastructure.

“We have added a number of follow-up holes around AB147 to the drilling program with the intention to bring this area into the early years of the mine plan as an optimisation.”

Other notable intersections include:

  • 11.5 metres at 17.2% lead and 27 g/t silver from 302.6 metres; and
  • 10.6 metres at 8.6% lead and 17 g/t silver from 396.5 metres.

Three core objectives

The program comprises 25 diamond core drill-holes for 10,646 cumulative linear metres of the 2020 Abra drilling program, which has now been completed.

Drilling was initially planned to consist of around 15,000 to 18,000 metres of drilling, with three objectives: lead-silver ore body infill; drilling into selected prospective ‘metal-rich’ zones for potential life of mine plan optimisation; and gold-copper exploration.

Holes completed to date have been targeting the first two objectives, with the plan to address the third objective later in the program.

There are now three drill-rigs operating at Abra with the capacity to drill a cumulative 1,400-1,800 metres per week.

Assays have taken some time because drilling initially started with one drill-rig only and it took some weeks to ramp-up to three rigs due to drill-rig availability.

The assays have also been slower to be received than for past programs due to capacity issues with sample logistics operators and lab backlogs.

Shares are more than 6% higher at 26 cents.

Quick facts: Galena Mining Ltd

Price: 0.245 AUD

Market: ASX
Market Cap: $113.15 m

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