- Boab Metals (BML) has released a mineral resource update for its Sorby Hills Project in the Kimberley Region of WA
- The new estimate now includes 44.9 million tonnes at 3.2 per cent lead, 0.5 per cent zinc and 37g/t of silver, using a cut-off of 1 per cent lead
- The updated mineral resource estimate was undertaken by CSA Global and includes the results of the recently completed phase four drilling program
- Boab will commence stage five drilling next month, ahead of finalising the definitive feasibility study
- Before the market opens today, Boab is trading at 40 cents per share
Boab Metals (BML) has released a mineral resource update for its Sorby Hills Lead-Silver-Zinc Project in the Kimberley Region of WA.
Last year, Boab undertook a pre-feasibility study (PFS) at Sorby Hills, which calculated a mineral resource of 44.1 million tonnes at 3.3 per cent lead, 38g/t silver and 0.5 per cent zinc.
Due to this positive result, a phase four drilling program was designed to advance the project towards definitive feasibility study (DFS) status.
The updated mineral resource estimate was undertaken by CSA Global and includes the results of the recently completed phase four drill program.
The mineral resource now comprises of 44.9 million tonnes at 3.2 per cent lead, 0.5 per cent zinc and 37g/t of silver, using a cut-off of 1 per cent lead.
While the overall mineral resource size has remained largely unchanged, the updated estimate has resulted in an 6 per cent over all increase in the measured and indicated resource, including 24,000 more tonnes of contained lead, and 1.2 million more ounces of contained silver.
“The phase four drilling program was primarily aimed at collecting the geotechnical and metallurgical samples required to underpin high-quality DFS open-pit and process plant design, as well as increasing geological confidence in the Sorby Hills Resource,” Managing Director and CEO Simon Noon said.
” We have achieved those objectives. Additionally, the mineral resource estimate has afforded us the opportunity to further refine our geological model and has confirmed high impact targets for future drilling,” he added.
The company will commence stage five drilling next month, ahead of finalising the DFS.
“We’re excited about the upcoming phase five drilling program which will build upon the current mineral resource estimate and aggressively target opportunities to extend the project life and expand process plant capacity ahead of a Decision to Mine at Sorby Hills,” Simon said.
Before the market opens today, Boab is trading at 40 cents per share.