Shares gained more than 20% today after the company reported hits such as 31.7m grading 13.5% lead and 27ppm silver from 542.3m, within a wider interval of 53.3m at 10.9% lead.
Galena is focused on the high grade core of the “huge” Abra deposit, and will initiate a prefeasibility study once the high grade resource estimate is completed.
Most of the high grade mineralisation is between 350m and 500m depth, with potential ore starting at 260m depth.
Previous owners focused on the overall larger, but lower grade resource.
A big positive is Abra already being on a granted mining lease.
Abra is in the Gascoyne region of WA about 110km from Sandfire Reso...