After successfully completing the fully funded 2020 Abra drilling program, Galena Mining (ASX:G1A) CEO and Managing Director Alexander Molyneux is confident that the company has more than one reason to welcome investors to the next phase of the program.
“The program was successful in terms of infill drilling,” Molyneux said. “We can say that 75 percent of the 57 holes either met or exceeded expectations compared to the previous resource model. I think that’s pretty positive. In terms of targeting metal-rich zones, we had two zones where we found extremely good cumulative grade and thickness of lead-silver.”
The Abra base metals project is a globally significant lead-silver project located in the Gascoyne region of Western Australia. It is fully permitted and construction work has already begun.
“We are 15 months away from the first production. Once we’re producing at a steady state, we have a projection to make AU$114 million a year,” Molyneux said. “And when a company has already eliminated the funding risks, it’s an exciting time for investors to join the story.”
Watch the full interview with Galena Mining CEO and Managing Director Alexander Molyneux above.
Galena Mining CEO Alexander Molyneux is confident that the company has more than one reason to welcome investors to the next phase of the program.