ABRA BASE METALS PROJECT DRILLING RESULTS

GALENA MINING LTD. announces the third batch of assay results from the now completed 2020 Abra Drilling Program at Abra Base Metals Project.

HIGHLIGHTS:

 2020 Abra Drilling Program concluded in late-December with a total of 57 successfully completed new diamond drill-holes (~25km of drilling), taking the total cumulative drilling on Abra to over 100km
 This third batch of assays (18 drill-holes: AB159, AB160, AB162 to AB175, AB178 and AB179) includes intersections from eight holes added to the Program to expand the shallow, close to infrastructure ‘metal rich’ zone around previously reported ‘best high-grade lead-silver drill-hole ever’ at Abra, drill-hole AB147, two of which (AB174 and AB179) are effectively following thick, highgrade mineralisation into an area of Inferred mineralisation
 Outstanding lead-silver intersections in this announcement confirm wide, highgrade mineralised zones:
 AB174 – 32.3m at 13.8% lead and 34g/t silver from 352.7m
 AB167:
 22.8m at 7.5% lead and 24g/t silver from 277.1m; and
 20.1m at 8.9% lead and 18g/t silver from 338.7m
 AB172:
 24.3m at 10.9% lead and 24g/t silver from 288.5m; and
 9.9m at 18.1% lead and 31g/t silver from 342.3m
 AB166 – 16.9m at 9.3% lead and 36g/t silver from 398.9m
 AB171:
 17.7m at 8.8% lead and 30g/t silver from 308.1m; and
 17.0m at 8.6% lead and 15g/t silver from 329.7m
 AB170:
 16.6m at 9.2% lead and 25g/t silver from 352.7m; and
 17.0m at 6.5% lead and 10g/t silver from 374.0m
 AB173 – 13.1m at 8.7% lead and 16g/t silver from 404.0m
 AB 178 – 15.9m at 7.4% lead and 14g/t silver from 437.8m
 AB 159 – 10.7m at 9.2% lead and 26g/t silver from 378.8m
 In a first for Galena, four drill-holes (AB167, AB170, AB172 and AB174) in a single reporting batch show cumulative lead-silver intersections >50m
 One of the last drill-holes drilled in the Program (AB195) was drilled to target the interpreted copper and gold zone – Assays remain pending for that hole but three holes reporting today coincidentally extended into copper and gold mineralisation, with notable significant intersections including:
 3.0m at 2.0% copper, 2.3g/t gold and 29g/t silver from 401.6m in
AB174
 6.0m at 1.8% copper and 1.3g/t gold from 391.8m in AB179
 4.9m at 1.0 g/t gold and 24g/t silver from 424.2m in AB166
 Drilling density has been substantially improved (eg, area covered by 30 x 30m or better spacing has increased approximately five fold), particularly over the shallower northern side of Abra, providing opportunities for optimisation of the early years of the mine plan
 Preparatory construction works have resumed at the Project – on site installation of the remaining 200 camp units and other ancillary buildings is underway alongside various civil works such as the explosives magazine (completed) and various site clearing and earthworks, including preparation of the pad for the processing plant

GALENA MINING LTD. (“Galena” or the “Company”) (ASX: G1A) announces the third batch of assay results from the now completed 2020 Abra Drilling Program at Abra Base Metals Project (“Abra” or the “Project”).
Managing Director, Alex Molyneux commented, “We continue to see the area around the previously reported ‘best hole ever’, AB147 confirming relatively shallow thick, highgrade mineralisation. The four holes being reported today with cumulative significant intersections >50m are all from that area. I’m also pleased we finished the substantial program safely and efficiently, and I commend our Geology Team and our primary contractor DDH1 Drilling for their hard work and professionalism!”

2020 ABRA DRILLING PROGRAM
The 2020 Abra Drilling Program concluded in late-December with 57 diamond core drill-holes being successfully completed for 24,832 cumulative linear metres. Total completed drilling at the Project is now approximately 100.5km, of which more than two-thirds has been completed under Galena ownership since late-2017.
This release includes assays from 18 drill-holes (AB159, AB160, AB162 to AB175, AB178 and AB179). The assay results for the first 16 holes (AB144 to AB158 and AB161) were announced on 19 October 2020 and 18 November 2020.

Click here for the full press release.

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Gold isn't all that glitters in the land down under — silver in Australia is a major industry, and the country is home to both large and small players.

When it comes to precious metals, Australia has long punched above its weight — the nation was born riding the wave of a gold rush.

Gold isn't all that glitters through — Australia is also a major global producer of silver. It's among the 10 top producers, and was ranked seventh in 2020, with 1,300 tonnes coming from the many operational mines in the country. By comparison, the world's top producer, Mexico, produced 6,300 tonnes that same year.

Other key players in the silver market are Peru, China and Russia, which produce more silver than Australia, and the US, Argentina and Bolivia, which produce less.


Australia is sitting on quite a lot of the precious metal, with the world's second largest reserves, behind only Peru.

According to Geoscience Australia, one of the country's first mines was a silver-lead mine near Adelaide. Since then, the entire continent has been combed over with a fine-toothed comb, with deposits identified in every state and territory and active mines in every jurisdiction but one (Victoria).

Overall, Australia is well explored when it comes to silver, and since the mid-1800s it's had a constant stream of silver production. Aside from that, the country boasts metals-processing facilities in South Australia that separate the precious metal from its commonly mined counterpart metals, lead and zinc.

Silver companies in Australia

Those looking at the Australian silver market have options. There are plenty of big players with interests in Australian silver, and many smaller players for investors to consider researching too.

Most silver comes from mines dedicated to other metals — Glencore's (LSE:GLEN,OTC Pink:GLCNF) Mount Isa in Queensland produces mainly copper, zinc and lead, but silver is separated by the company's integrated processing streams. Glencore also operates the McArthur mine in the Northern Territory, which is primarily zinc, but between its copper and zinc assets, Glencore produced 7,404,000 ounces of silver in Australia in 2020 — over 200 tonnes.

Elsewhere, BHP (ASX:BHP,NYSE:BHP,LSE:BLT) produces a lot of silver as well at the Olympic Dam operation in South Australia. Perhaps best known for the production of uranium and copper, it also yields significant silver resources to the tune of 984,000 ounces in 2020 (or almost 28 tonnes).

According to Geoscience Australia data from 2016, over 20 mines in Australia produced silver in that year, while there are dozens of other resources identified in each state.

A primary producer of silver is the Cannington mine in Queensland, where South32 (ASX:S32,OTC Pink:SHTLF), a company that was spun off from BHP in 2015, mines silver and lead. Cannington is a big one, producing 11,792,000 ounces in 2020, or 334 tonnes of silver.

Tasmania boasts the Rosebery mine, which has seen 85 years of continuous operations and is currently owned by MMG (ASX:MMG,HKEX:1208). Rosebery, like all the others here, is polymetallic, and besides silver also produces copper, zinc, lead and gold. MMG also has the Dugald River mine in Queensland which also produced silver.

Getting into smaller companies, there are those like New Century Resources (ASX:NCZ) which restarted the Century mine in the Northern Territory for zinc and silver.

The future of silver in Australia

So, you get the picture — there's a lot of silver to be mined in Australia by way of mining everything else.

It's worth noting that because silver operates both as a precious and an industrial metal, and is mined most often alongside base metals, it can be pulled in many directions. However, it traditionally follows (and lags behind) its precious metal sibling, gold, making it a valuable investment commodity to keep an eye on.

Looking forward, the future of the commodity in the land down under — especially given Australia's significant reserves and operator diversity — is as bright as you'd like it, and depends on what investors are most interested in, given the by-product nature of the metal.

Don't forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.

Australia took a stand against Facebook and Google earlier this year, and the move could have long-term implications for tech investors.

It was a ban that sent Australians wild and had the whole world watching.

Back in February, Facebook (NASDAQ:FB) stopped users in Australia from posting news in a week-long blackout, reacting to proposed legislation that would have forced the social media behemoth to pay publishers for content.

What prompted Facebook to "friend" Australia again, and what are the potential long-term implications of the squabble? Read on to learn what tech-focused investors in Australia should know about the situation.


Australia squares off against Facebook

On February 25 of this year, Australia's federal government passed the News Media and Digital Platforms Mandatory Bargaining Code. It was developed after extensive analysis by the Australian Competition and Consumer Commission, and is aimed at ensuring that news media businesses are fairly remunerated for their content.

It stipulates that digital platforms such as Facebook and Google (both named in the documentation) must pay news outlets whose content they feature — for example, if content is shared on Facebook or shows up in Google search results. The idea is that this will help to sustain journalism in Australia.

Unsurprisingly, Facebook and Google didn't react well to the code, which was first introduced in 2020.

Google didn't make any moves after it passed, but Facebook quickly made it impossible for Australian users to share news content, and pages for both local and international news organisations went blank — a major concern given the COVID-19 and wildfire concerns that were circulating at the time.

Australian Prime Minister Scott Morrison was scathing about Facebook's decision — which he ironically shared in a Facebook post — declaring the tech giant's actions "as arrogant as they were disappointing." He added, "These actions will only confirm the concerns that an increasing number of countries are expressing about the behaviour of BigTech companies who think they are bigger than governments and that the rules should not apply to them."

Despite strong feelings from both Australia and Facebook, the dispute was resolved fairly quickly, with the country agreeing to make four amendments to the legislation and Facebook restoring Australian's access to news.

Implications for Big Tech and news organisations

Both Australia and Facebook have claimed victory in the dispute, with a Facebook representative saying the company will be able to decide if news appears on the platform — meaning it won't automatically have to negotiate with any news businesses. Changes were also made to the arbitration process.

Tech experts have pointed out that larger news companies may ultimately benefit from the changes, but smaller ones could be pushed to the side. Major publishers that have struck agreements with tech giants, such as News Corp, Nine Entertainment (ASX:NEC,OTC Pink:NNMTF), Seven West Media (ASX:SWM) and Guardian Australia, may be able to increase their market share while smaller independent players lose out.

A business that is in full support of the laws is Microsoft (NASDAQ:MSFT). During the conflict, President Brad Smith came out loudly in favour of Australia's law, and advised that his company is willing to step up with search engine Bing should Google and/or Facebook pull out of the Australian market.

"In Australia, Prime Minister Scott Morrison has pushed forward with legislation two years in the making to redress the competitive imbalance between the tech sector and an independent press. The ideas are straightforward. Dominant tech properties like Facebook and Google will need to invest in transparency, including by explaining how they display news content," he said in a blog post.

"The United States should not object to a creative Australian proposal that strengthens democracy by requiring tech companies to support a free press. It should copy it instead."

Global reach and tech investor impact

Six months down the road from Australia's landmark legislation, it's tough to say what the long-term impact may be.

That said, market watchers do believe the country is part of a new precedent of forcing Big Tech into paying for journalism — something giants Facebook and Google are not used to.

Countries looking to pursue similar legislation include Canada, where Facebook agreed in May to pay 14 publishers to link to their articles on its COVID-19 and climate science pages, as well as other unspecified use cases. Canada is pursuing other avenues too. Meanwhile, in France, Google said it will pay publishers for news content after the country took up new EU copyright laws that make digital platforms liable for infringements.

For investors, the takeaway is perhaps that while companies like Facebook and Google may seem too big too fail, they too can fall subject to new regulations that can change how they do business. As nations around the world look to take back control from these mega companies, it's important to be aware of possible effects on their bottom lines.

Don't forget to follow @INN_Australia for real-time updates!

Securities Disclosure: I, Ronelle Richards, hold no direct investment interest in any company mentioned in this article.

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