No lead in Galena's market saddlebags

BIG ASX IPO success story Galena Mining has indicated it expects to meet or surpass its initial high grade resource target at its Abra project as it works on getting into production in 2021.

No lead in Galena's market saddlebags No lead in Galena's market saddlebags No lead in Galena's market saddlebags No lead in Galena's market saddlebags No lead in Galena's market saddlebags

The company’s CEO Ed Turner told the RIU Explorers Conference Galena was “very confident” of the 14 million tonnes grading around 8% lead target, with the official resource estimate expected in the next couple of weeks.

Scoping work is already underway with Galena looking at a 1 million tonne per annum processing operation producing 90,000 tonnes of contained lead per annum (within a 150,000t concentrate).

Abra was previously seen as lower grade, six million tonnes per annum development with capex of circa $500 million.

The project was acquired by Galena’s promoters for A$3.5 million in scrip.

It has proved a great deal, with Galena’s shares (which were issued in its IPO ...