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- Boab Metals (BML) sees an expansion of its mineral resource estimate at its 75 per cent owned Sorby Hills Project in the Kimberley region of WA
- In a pre-feasibility study, Boab confirmed Sorby Hills was a low risk, high value project, which was later followed by phase four and five drilling programs
- The updated mineral resource estimate now sits at 47.3 megatonnes (Mt) at 3.1 per cent lead, 0.4 per cent zinc and 35 grams per tonne (g/t) silver, using a cut-off of 1 per cent lead
- The company says it expects the increase in measured resources will have a positive impact on the Sorby Hills ore reserve and definitive feasibility study
- Boab Metals last traded at 29 cents on December 16
Boab Metals (BML) has expanded its mineral resource estimate at its 75 per cent owned Sorby Hills Project in the Kimberley Region of WA.
The update to the lead-silver-zinc project, jointly owned by Hanan Yuguang Gold Lead Co, followed a phase four and five drilling program.
In a pre-feasibility study, Boab confirmed Sorby Hills was a low risk, high value project, underpinned by a large near-surface deposit comprising a mineral resource of 44.1 megatonnes (Mt) at 3.3 per cent lead, 38 grams per tonne (g/t) silver and 0.5 per cent zinc.
On the back of the positive pre-feasibility study results, a phase four drilling program was designed to advance the Project towards DFS status.
Subsequently, a phase five drilling program, which included 59 diamond drill holes for 5,284 metres, was completed to expand the Sorby Hills mining inventory and increase the proposed processing plant capacity to 1.5 Mt per annum.
The updated mineral resource estimate now sits at 47.3 Mt at 3.1 per cent lead, 0.4 per cent zinc and 35g/t silver, using a cut-off of 1 per cent lead.
The update saw the conversion of 5.6 Mt of Indicated Resources to Measured Resources.
Boab Managing Director and CEO, Simon Noon said the updated mineral resource estimate represents a significant milestone in the development of the Sorby Hills Project.
“Phase IV and V drilling programs have delivered on their objective and materially advanced the Sorby Hills Project,” said Simon Noon.
“I am confident we will see these positive results flow to the DFS.”
The company said it expects the increase in measured resources by 5.6Mt will lead to a significant increase in proved reserves and the quality of data feeding into open pit and process plant design criteria for the Sorby Hills DFS.
Boab Metals last traded at 29 cents on December 16.
