Projects

About Abra Base Metals Project

86.67% owned by Galena, the Abra Base Metals Project (Abra or the Project) is a globally significant lead-silver project located in the Gascoyne region of Western Australia (between the towns of Newman and Meekatharra, approximately 110 kilometres from Sandfire’s DeGrussa Project).

Galena completed an outstanding definitive / bankable feasibility study (FS) (for the complete FS, Read Here) for development of a mine and processing facility with a 16-year life producing a high-value, high-grade lead-silver concentrate containing approximately 95kt of lead and 805koz of silver per year after ramp-up. Based on a pre-development capital expenditure estimate of A$170 million, the FS modelled a pre-tax net present value for Abra (at an 8% discount rate) of A$553 million and an internal rate of return of 39%.1

Abra JORC Mineral Resource estimate1, 2
Resource classification Tonnes (Mt) Lead grade (%) Silver grade (g/t)
Measured
Indicated 16.7 8.5 24
Inferred 24.4 6.5 14
Total 41.1 7.3 18

Notes: 1. See Galena ASX announcement of 17 October 2019. Galena confirms that it is not aware of any new information or data that materially affects the information included in Galena’s ASX announcement of 17 October 2018 and confirms that all material assumptions and technical parameters underpinning the resource estimates continue to apply and have not materially changed. 2. Calculated using ordinary kriging method and a 5.0% lead cut-off grade. Tonnages are rounded to the nearest 100,000t, lead grades to one decimal place and silver to the nearest gram. Rounding errors may occur when using the above figures.

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