ASX:G1A

Galena to Increase Exploration at 100% Owned Jillawarra

GALENA MINING LTD. ("Galena" or the "Company") (ASX: G1A) announces that on conclusion of a detailed review of its 100% owned Jillawarra Project following the acquisition of the key Copper Chert tenement (see Galena ASX announcement of 29 June 2020), the Company has identified several priority targets and will commence drilling some of these targets in Q4, 2021.


The Company also plans to complete further airborne electromagnetic work which will increase the coverage area to approximately 50% including all the priority areas.

Managing Director, Tony James commented that in relation to the Jillawarra Project, "A detailed geological review of the entire Jillawarra tenement package has occurred following the acquisition of the Copper Chert area last year. Applying our greater understanding and knowledge we obtained from our Abra drilling program in 2020 we have been able to clearly identify some high priority targets at Jillawarra. Work on the ground will continue on four of these targets in the Woodlands Complex area this year and we have another three high priority targets that we also want to get busy on. This is an exciting period for the Edmund Sedimentary basin as Abra's development provides a foundation for the opening up of this brand-new mineral province in Western Australia. Along with Abra, the 100% owned Jillawarra ground will be a significant chapter in the development of this region".

HIGHLIGHTS:

  • Galena plans drilling in Q4, 2021 at priority Jillawarra base and precious metals exploration targets
  • Galena owns 100% of the Jillawarra Project which covers 508km2 of prospective Edmund Basin sediments across 60km of contiguous strike immediately to the west of Abra. The tenements cover the prospective Quartzite Well fault zone that contains the Abra deposit and the regional scale Woodlands Complex
  • Following a detailed review of the Jillawarra Project, Galena has identified 7 priority targets from the 25 prospective targets identified and plans to complete up to 3km of drilling and detailed electromagnetic targeting on 4 of those targets. The airborne electromagnetic work will take the coverage of the Jillawarra tenements to approximately 50% GALENA MINING LTD. ("Galena" or the "Company") (AS

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Galena Mining Director & CEO Tony James

Galena Mining

Galena Mining CEO Tony James: On Track for Commercial Production in 2023youtu.be

Galena Mining (ASX:G1A) announced that construction at its Abra base metals mine is already 78 percent complete as of July 31, 2022. CEO Tony James said the company has done a great job building the project.

James commented, “The project's 80 percent complete. I think a lot of people have been just sitting and watching how we would perform this year, a perceived difficult construction period. But we've done a great job, and people will suddenly realise that everything's on track.”

The Abra base metals mine is a high-grade lead-silver mine located in the highly prospective Edmund sedimentary basin in the Gascoyne region of Western Australia. The project is under full construction in 2022 and remains on target for first commercial production in January 2023.


The activities that have progressed include concrete works and structural steel installation, as well as the mechanical, piping and electrical fit-out stages. The flotation cells and drive mechanisms are currently in shipment and are expected to arrive by September. The mine’s regrind mill has been shipped from Germany to Melbourne.

In July 2022, Galena raised a AU$17 million buffer for Abra’s critical initial commissioning and ramp-up stages.

“We raised some money in late July, which serves as our reserve facility. It’s been put in place by the joint venture partners to look after our working cap and risk period, which is the first initial commissioning period of the project. We don't believe we need to raise any more money at this stage.”

“I think we've done a great job building this project, I think we're on top of our risk profile. And this project is going to go ahead. We'll start producing concentrate in January and start supplying the market. We're very confident.”

Watch the full interview of Galena Mining CEO Tony James above.

Disclaimer: This interview is sponsored by Galena Mining (ASX:G1A). This interview provides information which was sourced by the Investing News Network (INN) and approved by Galena Mining in order to help investors learn more about the company. Galena Mining is a client of INN. The company’s campaign fees pay for INN to create and update this interview.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Galena Mining and seek advice from a qualified investment advisor.

This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.

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