Galena Mining On Track For Abra base metals Mine Concentrate
Galena Mining Limited (G1A) accomplished 92% completion at its Abra base metals mine in Western Australia after the underground mine reached the first ore earlier this week.
The mining company announced that it will continue to progress with plant commissioning in various key areas and stay on track to achieve the initial concentrate from the Abra base metals mine before the end of March 2023.
Tony James, the company’s Managing Director, said that reaching the first ore underground on Monday was really rewarding for everyone that was involved in the Abra base metals mine project.
“To see for the first time what we have predicted and interpreted as the Abra base metals ore body delivers a significant step forward for the project,” Mr James said.
“Record development meters in October have taken the Abra base metals mine to the ore and we continue to establish key underground infrastructure with the completion of the 6m diameter surface rise that will be the primary return airway,” he added.
The Abra base metals mine’s infrastructure development was 97% done
The Abra base metals mine’s processing plant engineering, procurement, and construction were 97% done and mechanical installations were 96% finished. Structure steel was completed in October. Galena Mining’s piping is 80% complete while its electrical work is 71% done.
Furthermore, the mining company has fully integrated a 10-megawatt hybrid LNG/Solar power station from Pacific Energy with Galena Mining’s solar power supply and it completed the dry commissioning of the crushing and screening areas early this month.
Galena Mining plans to commence the Abra base metals mine’s grinding section dry and wet commissioning in the middle of November.
For its exploration work, the mining company managed to complete 24 new grade control and infill diamond drilling holes for 3629 meters in October. To date, the mining company has completed 11,905 meters of underground drilling.
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Cantex Mine Closes C$1.6 Million Private Placement
In Kelowna (British Columbia, Canada), Cantex Mine Development Corp said that they had closed private placement, and received C$1,605,040 by the issuance of 5,203,852 flow-through units (FT Units) and 800,000 non-flow-through units (Units). The former was issued at $.27 per FT Unit and Non-flow-through was issued at $.25.
An FT Unit is composed of one non-flow-through share and one-half of a warrant. A whole warrant allows the holder to acquire one common share of Cantex Mine at C$.35 for two years from closing. The proceeds from this offering will fund the drilling program of the company’s North Rackla Project in Yukon and its general working capital.
Cantex Mine was charged $98,353 in finders fees regarding the offering. C$17,713 was paid in cash while C$80,640 was paid with the issuance of 322,560 Units priced at C$.25/Unit. 375,200 were also issued as finders warrants. These finders warrants have terms and conditions of the warrants issued in the offering.
The securities issued in the offering are subject to a four-month hold period set to expire on March 19, 2023.
Nickel Creek Platinum Corp Completes Drilling and Geophysics Activities
Nickel Creek Platinum Corp. announced that it had finished its 2022 drilling and geophysics program at its Nickel Shaw Project in the Yukon Territory (Canada). The company said that it had managed to drill about 3,300 meters.
The drilling project consists of eight holes with approximately 2,000 meters of Prefeasibility Study or PFS drilling at the Wellgreen deposit. This includes drilling to support the conversion of inferred mineral resources and the collection of additional geotechnical and hydrogeological data including the characterization of the proposed waste dump and tailing locations.
The Canadian mining exploration and development company drilled 10 holes with a total of about 1,300 meters at the Arch exploration target to further define the extent of the mineralization found in 2021.
Samples from the drilling program were sent to the assay lab. The results include analytical results of the full field drill program and are expected to be finished and released by the first quarter of 2023.
