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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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This article includes content from Boab Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
High grade Assay Results Continue at Youanmi
- The latest batch of assays have been received from the 11,000m drilling program (both diamond core and reverse circulation) at the high gold-grade Youanmi Gold Project, located centrally in Western Australia’s prolific gold fields
- The recently-completed infill/exploration program aimed to improve resource confidence and open up corridors for resource growth; to underpin the Definitive Feasibility Study (DFS), and, additionally, provide sample material for ongoing metallurgical optimisation test-work for the DFS program
- Latest highlights from the program include:
- RXDD131: 4.38m @ 19.07 g/t Au from 387.98m,
- incl. 1.73m @ 41.43 g/t Au from 389.96m
- RXDD119: 4.56m @ 14.60 g/t Au from 220.64m
- RXDD115: 2.99m @ 21.11 g/t Au from 249.88m
- RXDD119: 4.0m @ 7.37 g/t Au from 162.0m
- RXDD132: 7.19m @ 3.90 g/t Au from 263.61m
- RXDD133: 2.83m @ 6.53 g/t Au from 431.00m
- RXDD128: 3.82m @ 4.51 g/t Au from 364.59m,
- incl. 1.73m @ 8.22 g/t Au from 364.59m
- incl. 1.73m @ 8.22 g/t Au from 364.59m
- RXDD122: 0.95m @ 13.50 g/t Au from 204.44m
- §These results further demonstrate the continuity of high- grade gold mineralisation along the Youanmi greenstone belt belt, and the potential for resource growth both at depth and along-strike, with discovery potential to the south
- 35,000m Step-up drill campaign well underway with the plan to bring forward ounces and increase the mine plan
The program focused on converting Inferred stopes at Pollard, United North and Youanmi Main to higher confidence Indicated classification and providing material for metallurgical testing for the upcoming Definitive Feasibility Study (DFS) – on track for H2 CY25.
This final consignment of diamond assay results are the fourth batch of assays results returned from the drill program and have been entirely drilled from the Pollard, Youanmi and United North areas (Figure 1).
Rox Resources’ Chief Executive Officer, Phillip Wilding, commented:
“It’s pleasing to round out the 11,000m RD and DD drilling program with another batch of excellent intercepts.
“More importantly, the program has significantly improved our knowledge of the high grade and underexplored Youanmi ore system, and shown that mineralisation remains open at depth.
“Next steps are to convert Inferred areas of the Resource to the higher confidence Indicated classification, and finalise key intercepts of sample material for metallurgical test work to feed into the Youanmi DFS.
“We are excited to have commenced the 35,000m Step-up program to potentially bring forward ounces in the mine plan and significantly increase the size of the Pollard ore zone.”
Youanmi Major Growth Drill program
Resource drilling has focused on converting selected Inferred stopes in the current Mineral Resource of 16.2Mt at 4.4g/t Au for 2.3Moz (Indicated: 10.7Mt at 4.5g/t Au for 1.6 Moz : Inferred 5.5Mt at 4.2g/t Au for 0.7 Moz) 1 to higher confidence Indicated classification at Pollard, United North and Youanmi Main as shown in plan on Figure 1. The drilling has also provided both sample material for metallurgical testing and valuable geological data for the pending Definitive Feasibility Study (“DFS”) planned for second half of 2025.
Figure 1: Plan view of the Youanmi Gold Project featuring drill hole collar locations and 2024 Resource outline overprinted on aerial photography
Outside of the immediate resource area, drilling was also conducted on near-mine exploration and focused on the Youanmi South prospect area, or Paddy’s Lode, first reporting high-grade intercepts in 20232. The drilling at Paddy’s has complimented the Company’s exploration strategy moving south along the Main Lode Shear Zone (MLSZ) and adding additional gold ounces to the Resource. Youanmi South has the potential to grow the Resource above the 103kozpa Production Target outlined in the recently completed Pre-Feasibility Study (“PFS”)3.
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This article includes content from Rox Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
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This article includes content from Alice Queen Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
