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Boab Metals Limited (ASX: BML) (“Boab” or the “Company”) is pleased to report assay results including a material intercept from the 1st drill hole at the Keep Seismic Target from the Phase VII drilling program at its 75% owned Sorby Hills Lead-Silver-Zinc Project (“Sorby Hills” or “the Project”), located in the Kimberley Region of Western Australia.
HIGHLIGHTS
- Drilling of the “Keep Seismic Target” intercepts significant base metal mineralisation.
- SHSD_185: 9.55 m @ 5.10% PbEq (2.59% Pb & 2.26% Zn) and 17.6 g/t Ag from 242.55 m
- Incl. 3.12 m @ 13.43% PbEq (6.37% Pb & 6.36% Zn) and 26.5 g/t Ag from 245.36m
- Intercepts of the exceptional grade and composition at the Norton Ore body:
- SHSD_171: 11.05 m @ 17.63% PbEq (10.98% Pb & 189 g/t Ag) from 81.95m
- SHSD_174: 11.60 m @ 20.23% PbEq (8.78%Pb & 325 g/t Ag) from 74.40m
- Metallurgical test work now underway to establish uniformity of the Norton deposit metallurgy with other ore domains of the Sorby Hills deposit.
- Significant exploration drill hole intercepts:
- SHSD_164: 6m @ 9.92% PbEq (3.92% Pb & 170g/t Ag) from 101m
- SHSD_183: 2m @ 6.85% PbEq (4.43% Pb & 69g/t Ag) from 103m
- SHSD_184: 2.8m @ 3.84% PbEq (3.17%Pb & 19g/t Ag from 129m
Boab Managing Director and CEO, Simon Noon, stated:
“We are very excited to confirm that the drill hole at the Keep Seismic Target has intersected zinc- lead sulphide mineralisation between 242 and 257m as was anticipated. This is an outstanding success given the conceptual nature of the target and its location in an area, and at a depth where no mineralisation has been intersected before. The location of the drill hole sits around 2 km away from the closest ore reserves at Sorby Hills and will be a catalyst for further exploration within our mining tenements.
It is clear there is more to be discovered at Sorby Hills. The step-out drill holes at Norton and at Beta also confirmed the continuity of mineralisation.
In conjunction with our 2023 drill program, Boab continues to advance toward a final investment decision on the Sorby Hills Project with preferred EPC contractor GRES firming up Front End Engineering & Design work whilst discussions with financiers is ongoing”.
Phase VII Program Details
The Phase VII drilling program concluded with the completion of 22 drill holes for 2,634 (an additional 24% of metres than originally planned). Of the total program, 1,433 m across 13 holes were drilled for a metallurgical purpose with another 1,200m across 9 holes drilled for resource/reserve expansion and exploratory objectives.
Collar locations for all the completed drill holes are shown below in (Figure 1).
Figure 1: Plan view of the Sorby Hills Project showing the locations of completed drill holes for Phase VII with respect to previous drilling, the Mineral Resource and DFS open pit outlines.
Exploration and Resource Extension Drilling
The resource extension/exploratory drilling targeted the periphery of the known mineralisation, areas of lower confidence in the ore distribution and a conceptual target.
Keep Seismic Target
The highlight of the 1st drill hole into the conceptual target is:
- SHSD_185: 9.55 m @ 5.10% PbEq (2.59% Pb & 2.26% Zn) from 242.55 m
Incl. 3.12 m @ 13.43% PbEq (6.37% Pb & 6.36% Zn) and 26.5 g/t Ag from 245.36m
As announced in October 2023, the interpretation of seismic data from petroleum exploration across the Burt Range Sub-Basin resulted in a conceptual drill target – the Keep Seismic Target. A 306.5m deep drill hole was successfully drilled into the target’s depth range.
Seismic line WP96-08 traverses the project area about 2 km south of B-Deposit and shows the reflectors of the Devonian-Carboniferous sedimentary strata gradually dip to the east and affected by a series of extensional faults (Figures 2 and 3) leading into a half-graben structure flanked on the eastern side by a reef covered basement high which was targeted by the Pincombe No 1 petroleum well, drilled in 1996.
SHSD_185 was aimed at testing the potential for a mineralised feeder fault system, which can be seen in the seismic data, and the potential for stratiform mineralisation at the Knox Formation/Sorby Dolomite interface (Figure 3).
The drill hole intersected the base of the Knox Formation at about 224.6m and was terminated at a depth of 306.5m within massive Sorby Dolomite after intersecting two intervals of mineralisation (Figure 3).
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EIS Grant for Minnie Springs Copper Porphyry Drilling
- Augustus Minerals has been granted a co-funded drilling grant of up to $110,000 for 2 x 700m deep diamond drill holes under the WA Government’s Exploration Incentive Scheme (EIS) for the Minnie Springs prospect.
- The deeper diamond drill program is designed to test and to provide a 550m deep, 1km wide geological/geochemical/structural cross-section through the large 3km long by 1km wide copper moly porphyry system, linking the Mo mineralised leucogranite to the extensive Cu in soil anomaly to the northeast.
- Previous RC drilling at Minnie Springs intersected mineralisation, geology and alteration halo consistent with the zoning of a large porphyry copper / moly system.
Andrew Ford, GM Exploration
“The Company is pleased to receive an EIS grant to complete deeper drilling at the Minnie Springs Copper Molybdenum Project. The resultant data will enable mapping of the lithology and alteration to a depth of 550m and potentially intersect, or provide vectors to, higher grade Mo-Cu mineralisation using a Mo-Cu porphyry geological model”.
Minnie Springs
Minnie Springs hosts porphyry related copper molybdenum mineralisation previously drilled and defined by Catalyst Metals. A molybdenum Exploration target has been defined for the historicdrillingareacomprisedofbetween12-84Mtasoutlinedbelow (Table 1 and Figure 1, 2.)1.
Table 1. Exploration target size estimate for Minnie Springs Molybdenum depositNote: Based on ~300 ppm cut-off at 100% recovery.
The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resources, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
The planned diamond drilling will complement the recently completed 3,200m RC drilling program that infilled around hole MSRC012 (18m @ 0.37% Cu and 9.7 g/t Ag from 94m downhole, and 16m @ 0.38% Cu and 19.4g/t Ag from 121m downhole2) and tested the northern half of the 2km long copper-in soil anomaly. Assays from this program are expected to become available over the next month.
The limited exploration in the region, highlighted by 95% of the Ti-Tree project having no previous exploration, demonstrates the prospectivity of this underexplored mineral province.
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Quarterly Activity Report 31 March 2024
Figure 1. Fiery Creek Copper Prospect/Yataga Granodiorite summarizing rock (brown diamonds) and termite mound sample results (black crosses)
Continuing with its primary exploration focus on the Georgetown project in the latter half of 2023, EMU received assay results during the quarter from its second, in field reconnaissance work. The geochemical sampling programme covered the Fiery Creek high grade copper vein swarm and the Snake Creek prospects with significant element results returned from the Fiery Creek Copper (elevated Cu-Au-Ag-Bi-In-Pb-Sb-Te) and Snake Creek (elevated Pb-Ag-Au-Sb).
Whilst the survey was cut short due to inclement weather, EMU was encouraged by the significant success reflected in the assays results. The results from mineralogical studies confirmed EMU’s interpretation of an indicative, scale Copper-Porphyry system at the Fiery Creek prospect and was a highlight of the survey with new information building on the scale and potential of the prospect1.
Assay results returned included:
- Fiery Creek rock assay results up to 23.5% Cu, 0.27ppm Au, 460ppm Ag, 1.9% Bi, 89ppm In, 2.7% Pb, 667ppm Sb, 1470ppm Zn2.
- evidence of strong potential for the presence of critical and strategic minerals (Cu, Bi, In), with precious and base metals.
- evidence of alteration mineralogy, mineralisation geochemistry and areal extent of the Fiery Creek quartz-Cu-Bi vein swarm strongly suggesting a previously unrecognised subjacent porphyry Cu-Mo system.
- Yataga Granitoid Complex termite mound and coincident rock chip sampling returned several anomalous polymetallic zones for follow up.
- Snake Creek Prospect assays returned 0.20ppm Au, 390ppm Ag, 22.4% Pb, 464ppm Sb1.
Significant results were returned from the Fiery Creek Copper prospect with elevated Cu-Au- Ag-Bi-In-Pb-Sb-Te and from the Snake Creek prospect with elevated Pb-Ag-Au-Sb.
The elevated pathfinder element results and a macro-petrology assessment3 of rock samples completed by Mr Nigel Maund, Consulting Economic Geologist, from the previously unexplored Fiery Creek Prospect, point to the discovery of a porphyry copper system.
The sampling program assessed a number of high-priority prospects within the Georgetown Project tenements utilising termite mound and outcrop rock chip geochemistry. A total of 46 rock chip and 489 termite mound samples were collected across eight prospects.
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Basin Energy Mining Exploration Entity or Oil and Gas Exploration Entity Quarterly Cash Flow Report
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