First Targetted Copper-Gold Hole at Abra Hits 26.9M at 1.4% Copper

First Targetted Copper-Gold Hole at Abra Hits 26.9M at 1.4% Copper

Galena Mining Ltd. announces the outstanding result from drill-hole AB195, drilled as part of the recently completed 2020 Abra Drilling Program and as the first ever hole drilled specifically targetting the interpreted copper- gold zone at the Abra Base Metals Project.

HIGHLIGHTS:

  • Outstanding success from the first ever hole at Abra drilled specifically to target the interpreted copper-gold zone (AB195) adjacent to and below existing lead-silver mineralisation
  • Significant copper-gold intersections from AB195 include:
    • 3.0m at 4.2g/t gold and 1.1% copper from 670.7m,
    • 2.0m at 6.9% copper from 698.1m, and
    • 26.9m at 1.4% copper from 763.8m, including:
    ▪ 8.9m at 2.3% copper from 773.0m
  • Significant copper and gold mineralisation in AB195 occurred within the potential copper-gold channel zone interpreted by the Company’s geological and geophysical review in 2020
  • Downhole electromagnetic survey is planned to be conducted on AB195 during the second quarter of 2021 for the definition of conductive plates within its vicinity

Galena Mining Ltd. (“Galena” or the “Company”) (ASX: G1A) announces the outstanding result from drill-hole AB195, drilled as part of the recently completed 2020 Abra Drilling Program and as the first ever hole drilled specifically targetting the interpreted copper- gold zone at the Abra Base Metals Project (“Abra” or the “Project”).

Managing Director, Alex Molyneux commented, “We’re astounded at the success of drill- hole AB195 in intersecting significant mineralisation where we interpreted the gold and copper zone to be! We’re planning a follow-up downhole electromagnetic survey to take place in Q2 this year to consider further copper-gold targeted drilling thereafter.”

DRILL-HOLE AB195 AND THE 2020 ABRA DRILLING PROGRAM

Drill-hole AB195, was drilled as part of the 2020 Abra Drilling Program, which concluded in late-December with 57 diamond core drill-holes being successfully completed for 24,832 cumulative linear metres. It’s the first ever drill-hole at Abra drilled to specifically target the interpreted zone of gold and copper mineralisation lying immediately adjacent to and underneath the heavily explored lead and silver mineralised zones.

AB195 was an outstanding success, intersecting 3.0 metres at 4.2g/t gold and 1.1% copper from 670.7 metres, 2.0 metres at 6.9% copper from 698.1 metres, and 26.9 metres at 1.4% copper from 763.8 metres, including 8.9 metres at 2.3% copper from 773.0m .
Prior to intersecting the copper-gold zone, drill-hole AB195 passed through the Abra lead- silver zones, with the following significant intersections:

  • 8.0 metres at 8.0% lead and 17g/t silver from 406.8 metres
  • 5.5 metres at 12.1% lead and 12g/t silver from 541.3 metres
  • 11.3 metres at 6.6% lead and 10g/t silver from 559.8 metres

The success of AB195 is borne out by the fact the significant copper and gold mineralisation was intersected where potential for gold-copper channels were interpreted to be, based on a major geological and geophysical interpretation exercise carried out by the Company in 2020 (see Galena ASX announcement of 26 June 2020) and Figure 1 (below). Furthermore, grade and thickness parameters from sub-sections within the broarder intersection (ie, 8.9 metres at 2.3% copper) line up favourably in value terms with the lead-silver reserve grades.

Figure 1. Showing drill-hole AB195 and the interpreted deep copper mineralisation zone

The wider significant copper intersection in drill-hole AB195 occurred within a 45 metre zone of visual intermittent massive and disseminated copper-bearing chalcopyrite mineralisation from a down-hole depth of 752 metres (see sample drill-core photos in Figure 2 below).

Figure 2. Drill-core photographs of AB195 from 772.59 metres to 780.61 metres down-hole.

Given time constraints and the other objectives of the 2020 Abra Drilling Program, AB195 was the only hole drilled specifically to target the interpreted copper-gold zone. However, its success bodes well for additional follow-up work.

COPPER AND GOLD AT ABRA

The Abra deposit mineralisation system is characterised by a stratiform high-grade lead-silver mineralisation zone forming multiple layers of mineralisation over the entire deposit following preferable sedimentary horizons. This stratiform mineralisation overlays a funnel-shaped chlorite breccia with sub-vertical vein-stringer zones (“feeding structures”) formed by quartz- barite-dolomite-galena bearing veins carrying high-grade mineralisation of galena and other sulphide minerals. This vein-stringer zone progressively changes with depth from lead-silver rich to copper-gold rich. The copper-gold mineralisation occurs more frequently at certain depths in the Abra deposit due to the metal zoning with lead-silver deposited at the top and copper-gold idenfitied further down in the mineralisation system.

Click here to connect with Galena Mining (ASX:G1A) for an Investor Presentation.

Click here for the full ASX announcement.

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