Base metals: Galena uncovers more high-grade lead, highest silver hit yet in WA

Galena Mining (ASX:G1A) has hit high grades of up to 24 per cent lead at its Abra project in Western Australia, but has also unearthed its highest grade of silver ever of 457 grams per tonne (g/t).

Over 10 per cent lead is generally considered high-grade, and several of the 13 latest drill holes recorded hits of over 10 per cent, while above 50g/t silver is considered high-grade.

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Top hits included 23.9m at 10.3 per cent lead and 23 grams per tonne (g/t) silver, including 7.2m at 24 per cent lead and 55g/t silver.

“Our largest drill program to date continues to successfully delineate additional high-grade lead and silver intersections at much higher density in the upper northwestern area of Abra,” managing director Alex Molyneux said.

“This will enable us to complete an updated mineral resource estimate with a higher confidence, supporting our target to convert resources to ore reserves and continue to optimise our mine model.”

Galena also keeps finding “material” copper mineralisation.

“With these assays, we once again intersected material copper mineralisation (3.2m at 2.3 per cent copper) so we’re increasingly studying the potential nature and scale of the copper-gold zone at Abra,” Molyneux said.

“We also saw our highest grade ever significant silver intersection with 457g/t over almost 5m in hole AB121.”

In other ASX base metals news:

Ausmex Mining (ASX:AMG) has discovered a second larger iron oxide-copper-gold (IOCG) target in the historic copper region of Burra in South Australia. The new target, dubbed “Target B”, was identified via 3D geophysics and sits 2km west from the first IOCG target. Ausmex said Target B also lies just 4km west of the historic Princess Royal copper-gold workings, the site of some of the first copper ore production, including grades of up to 27 per cent, in South Australia dating from the 1840s.

Indiana Resources (ASX:IDA) is again looking at resuming work at its Ntaka Hill nickel project in Tanzania. The company noted the increasing government support for projects being developed by ASX-listed companies like Strandline Resources (ASX:STA), Walkabout Resources (ASX:WKT), Black Rock Mining (ASX:BKT) and Kibaran Resources (ASX:KNL). Indiana said it had reviewed and planned all activities that would be required to start development at Ntaka Hill.

Dreadnought Resources (ASX:DRE) has struck a deal to acquire the Wombarella project from Beau Resources for $20,000 cash and 16 million Dreadnought shares. Dreadnought has also applied for four new tenements in the South Kimberley. The company said the acquisitions make Dreadnought the second largest tenement holder in the West Kimberley.