Galena Mining Limited (ASX:G1A) floated on the ASX in September 2017 following a very successful IPO. The company owns 100% of the Abra base metals deposit located in the Gascoyne Region of Western Australia. The Abra deposit was discovered in 1981 and remains one of the biggest undeveloped lead deposit in the World. Abra is within a granted mining lease.
The Galena Mining team has prior experience at bringing an exploration project through all stages of development and into production. Galena completed a very successful drilling campaign in Q4 2017 with high grade mineralisation intersected in every one of the 12 holes. These results have allowed the estimation of a new 2012 JORC compliant Resource in March 2018 of: This is 11.2Mt (Indicated and Inferred) @ 10.1% lead and 28g/t silver within 36.6Mt (Indicated and Inferred) @ 7.3% lead and 18g/t Silver. The Company is now targeting the completion of the Pre-Feasibility Study by H2 2018.
Plans & Latest Developments:
Abra is a world class base metals deposit with a globally significant resource of lead-silver which transitions into gold-copper rich mineralisation at depth.
The JORC Resource (2018) contains in excess of 5 million tonnes of lead and silver with a high-grade component of:
- 11.2Mt (Indicated and Inferred) @ 10.1% lead (Pb) and 28g/t Silver (Ag) within 36.6Mt (Indicated and Inferred) @ 7.3% lead (Pb) and 18g/t silver (Ag)
The Mulgul Project includes numerous prospects in the area surrounding Abra. Abra historically been considered part of the Mulgul Project. The new main Mulgul targets are the Hyperion and Genie prospects.
Hyperion has significant high grade strata bound intersections that are interpreted to be possible continuations of the Apron zone at Abra but 1.4 km to the west. Genie has also recorded significant high grade lead intersections to the east of Abra
The Jillawarra Project covers a large area to the west of Abra and within the same Jillawarra Sub Basin that hosts the Abra deposit. The main prospect areas are the Woodlands Complex, Manganese Range and Quartzite Well.
Woodlands Prospects are located approximately 60km west of Abra. Historic drilling reports significant intersections including :
- 60m @ 0.3% copper in WDH1 (inc. 0.4m @ 8.4% copper and 16g/t silver from 558m)
- 3m @ 1.6% copper in JLWA-78-34
The Woodlands Area is divided into seven different prospects. The two main prospects 46-40 and Leader 18 include strong electro-magnetic anomalies (VTEM) that are coincidental with significant historic base metal mineralisation and have been drilled during the exploration program of 2018 (Assays pending).
Stock Exchange Listing:
Lead | Silver | Copper
Stage of Development:
Countries of Operation:
Board of Directors:
- Adrian Byass – Non-Executive Chairman
- Jonathan Downes – Non-Executive Director
- Oliver Cairns – Non-Executive Director
- Tim Morrison – Non-Executive Director
- Edward Turner – Chief Executive Officer
- Troy Flannery – Chief Operations Officer
- Stephan Brockhurst – Company Secretary