THE BOURSE WHISPERER: Galena Mining (ASX: G1A) has had a General Purpose (GP) Lease granted for all planned mine processing facilities and supporting infrastructure for the company’s Abra base metal project in the Gascoyne region of Western Australia.
Galena Mining said the granting of the lease, which includes administration, mine camp and airstrip was important in terms of maintaining momentum towards development.
The company indicated process engineering as a significant component of the ongoing Pre-Feasibility Study (PFS) and having a permitted area for the associated infrastructure further de-risks the project.
“The granting of our GP lease is significant in that it provides security over the area adjoining the granted mining lease, which contains the Abra deposit, and enables us to expedite planning towards production,” Galena Mining CEO Ed Turner said in the company’s announcement to the Australian Securities Exchange.
“The PFS is on track towards completion in September.
Galena is carrying out a PFS investigating the economic viability of the Abra lead-silver-copper-gold deposit.
Besides the lease granting, other PFS components are well advanced and on track for completion in September 2018.
These include Mining Studies covering scheduling, production ramp-up and rates as well as integrating infill drilling that is aiming to convert additional tonnes of Inferred Resources to Indicated.