Boab Metals is well-positioned to capitalize on the rising demand for lead and silver, delivering value to shareholders and supporting the global transition to sustainable energy systems.
Boab Metals (ASX:BML) is an ASX-listed base and precious metals explorer and developer with a flagship project poised for near-term production. Boab Metals is progressing toward a final investment decision (FID) on its Sorby Hills project, a world-class lead-silver deposit, underpinned .
Strategically located 150 km from Wyndham Port, the Sorby Hills project benefits from excellent infrastructure, including access to green power from the Ord River hydroelectric plant. The company's strategy combines technical expertise, sustainable practices, and robust financial planning to advance the Sorby Hills project, which is slated to produce high-grade lead-silver concentrate through conventional open-pit mining.
Strong economics underpin the project with a net present value (8 percent) of AU$411 million and a 37 percent internal rate of return, as confirmed by the completed front-end engineering design (FEED) study. Life-of-mine operating cash flow is pegged at AU$1.1 billion with an average annual EBITDA of AU$126 million. It boasts a competitive C1 cash cost of US$0.36/lb payable lead (after considering silver credits).
Further boosting the prospects of the Sorby Hills project a binding offtake and prepayment agreements with Trafigura, which ensured 75 percent of the lead-silver concentrate produced at Sorby Hills is pre-sold, providing a cornerstone financial foundation.
Boab Metals owns 75 percent of the Sorby Hills Project, with the remaining 25 percent held by Henan Yuguang Gold & Lead Co., China's largest lead smelting and silver producer. The project boasts a substantial, high-quality resource base of 47.3 million ton resource base at 4.3 percent lead equivalent (123 g/t silver equivalent), including 53 million ounces of contained silver, all with significant exploration upside.
An engineer with over 30 years of experience in the Australian mining industry, Gary Comb has a strong track record in successfully commissioning and operating base metal mines. He previously served as chairman of Finders Resources, and was the managing director of Jabiru Metals and CEO of BGC Contracting.
Appointed on October 19, 2013, Simon Noon brings more than 15 years of experience managing public resource companies. He has a strong background in strategic management, business planning, finance and capital raising across various commodities. Noon's notable achievements include leading the acquisition and development of the Sorby Hills project, resulting in a 50 percent increase in the mineral resource and the delivery of high-quality feasibility studies
A geologist with a successful career spanning over 30 years in the international mineral resource industry, Richard Monti has broad industry knowledge and strong strategic planning capabilities. He has more than 46 years of directorship experience in 13 ASX and TSX listed mining and exploration companies, building and managing teams of up to 70 personnel.
Advancing toward near-term lead and silver production in Western Australia
Apollo Silver (TSXV:APGO,OTCQB:APGOF,FSE:6ZF0) is a silver-focused exploration company advancing a dual-asset strategy through two high-potential projects in North America: the Calico Silver Project in California, USA, and the Cinco de Mayo project in Chihuahua, Mexico. Both projects are situated in mining-friendly jurisdictions with robust infrastructure and a history of significant exploration work.
At Calico, Apollo Silver advances the Waterloo deposit through geological modeling, barite resource definition, and engineering studies. Calico hosts 110 Moz of silver (measured and indicated) and 51 Moz (inferred), with recent test work producing a 94.6 percent barite concentrate.
In Mexico, the Cinco de Mayo project offers rare optionality, featuring a historical inferred resource of 154 Moz silver equivalent (385 g/t) and a high-impact discovery opportunity at the Pegaso Zone. Under an option agreement with MAG Silver, Apollo is executing a 20,000-meter drill program to earn full ownership of the project.
Project locationsThe Calico Silver Project, located 15 km from Barstow, California, includes the adjacent Waterloo and Langtry properties. Calico hosts a combined resource of 110 Moz silver (measured and indicated, 100 g/t) and 51 Moz silver (inferred, 77 g/t). The shallow, laterally extensive deposit offers strong geologic continuity and a low 1.1:1 strip ratio, supporting a potential low-impact open-pit operation. Recent drilling confirmed a 95 percent conversion rate from inferred to measured and indicated resources at Waterloo.
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Apollo Silver is advancing two high-impact silver projects in premier North American jurisdictions—California and Mexico—offering investors a unique combination of scale, optionality, and leverage to silver and critical mineral demand.
Apollo Silver (TSXV:APGO,OTCQB:APGOF,FSE: 6ZF0) is a silver-focused company advancing a dual-asset strategy centered on two high-impact projects in North America: the Calico silver project in California, USA and the Cinco de Mayo project in Chihuahua, Mexico. Both are located in mining-friendly jurisdictions with strong infrastructure and significant historical work.
Project locations
At Calico, Apollo Silver is advancing the Waterloo deposit toward development through geological modeling, barite resource definition, and engineering studies. Calico boasts 110 Moz of silver (measured and indicated) and 51 Moz of silver (inferred), and recent test work has produced a 94.6 percent barite concentrate, supporting the asset’s potential as a US critical minerals supplier.
In Mexico, Cinco de Mayo offers rare optionality with a historical inferred resource of 154 Moz silver equivalent (385 g/t), and a potentially game-changing discovery at the Pegaso Zone. The project is under an option agreement between Apollo Silver and MAG SIlver, wherein Apollo Silver will complete a 20,000-meter drill program to convert the option to an acquisition of the Cinco de Mayo. Apollo Silver’s strategy is underpinned by disciplined capital allocation, high-impact exploration, and a proven ability to acquire and unlock value from high-quality assets—following a model similar to Prime Mining. With no debt, strong institutional backing, and an experienced team, Apollo Silver is well-positioned to deliver scalable, discovery-driven growth in a rising silver and critical minerals market.
(Left to right) Drilling hole W22-RC008 and downhole surveying with an optical televiewer in drill hole WCC-RC-004B
The Calico silver project comprises two adjacent properties—Waterloo and Langtry—located in mining-friendly San Bernardino County, 15 km from Barstow, California. The combined resource at Calico includes 110 Moz of silver in the measured and indicated category (average grade: 100 g/t) and 51 Moz of silver in the inferred category with an average grade of 77 g/t. The deposit is shallow, laterally extensive, and exhibits excellent geologic continuity. A low strip ratio of 1.1:1 supports a potential open-pit operation with minimal environmental footprint. Drilling has demonstrated strong correlation between 2022 results and historical intercepts, underpinning a 95 percent conversion rate from inferred to measured and indicated categories at Waterloo.
Resources at Calico sit primarily on private land with vested mining rights, simplifying the path to permitting. Infrastructure is excellent: paved roads, power lines within 5 km, and proximity to the expanding Barstow rail terminal.
In addition to silver, Apollo Silver is evaluating Calico’s potential for gold and barite. Barite, a US critical mineral essential to oil and gas drilling, has demonstrated recoveries exceeding 94.6 percent purity in prior test work. A 1979 ASARCO historical estimate indicates 4.5 Mt of barite grading 13.4 percent. Ongoing 2025 work includes a barite resource estimate, investigating potential for additional gold mineralization, depending on results of preliminary work, followed up by a small drill program to test those findings.
Project location
Cinco de Mayo is a district-scale carbonate replacement deposit (CRD) system located in Chihuahua, Mexico along the same NW-SE structural trend that hosts some of the country’s largest silver and base metal deposits. The project was historically MAG Silver’s flagship asset, hosting a historical NI 43-101 compliant inferred resource of 154 Moz silver equivalent at an average grade of 386 g/t silver equivalent, including 132 g/t silver, 6.47 percent zinc, and 2.86 percent lead across the Jose Manto and Bridge Zone targets.
The site also includes the Pozo Seco deposit, which hosts an additional historical resource of 230,000 oz gold and 94 million pounds molybdenum, based on a 2010 technical report. Notably, a significant mineralized intercept—61 meters of massive sulphides—was drilled by MAG Silver in the Pegaso Zone beneath the known resource but never followed up due to social access issues.
Apollo Silver has secured an option to acquire the property from MAG Silver and is actively re-engaging with the local community to secure surface access to the property. A new, development-friendly ejido administration was elected in December 2024. The company is now pursuing a mutually beneficial and meaningful agreement with the local community for surface access rights to the Cinco de Mayo. The company will then execute a 20,000-meter drill campaign once access is secured. Under the option agreement with MAG Silver, Apollo Silver must secure access, drill 20,000 meters, and issue 19.99 percent of its common shares to complete its option to acquire Cinco de Mayo. Priority targets include Pegaso and expansion zones at Jose Manto. Metallurgical studies and engineering reviews are being considered as part of a future resource update.
A venture capitalist with over 30 years of operational experience, Andrew Bowering has raised over $500 million in value and capital for companies within the natural resources industry. He is the founder of Millennial Lithium and American Lithium, and he is a director and executive advisor to Prime Mining.
Chris Cairns is a CPA, CA and brings more than 13 years of experience working in the finance and mining industries. He obtained his designation while at PwC, working with numerous Canadian and US-listed mining and exploration companies operating in North America, South America and Mongolia, before leaving to serve in roles as controller and CFO of two publicly listed mining exploration companies listed in Canada and the United States.
Amandip Singh is a geologist and mining professional with over 15 years of experience in the mining industry, finance and academia. Most recently he was vice-president, corporate development for West Red Lake Gold Mines, where he was involved in the corporate turnaround and acquisition of the company’s flagship Madsen Mine project. He was previously with GT Gold as part of the management team that saw the Saddle North copper-gold porphyry project advance from discovery to eventual acquisition by Newmont Mining in a transaction valued at USD $311 million.
Rona Sellers is an experienced governance professional with more than 13 years of experience in corporate and securities law. Previously, she was VP compliance and corporate secretary at Maple Gold Mines, and previous to that she held corporate secretarial roles at publicly traded companies listed in Canada and the United States.
With over 20 years experience leading resource focused technical programs and teams, Isabelle Lépine brings extensive knowledge in mineral resource management to Apollo. Her significant experience ranges across the advanced stages of the resource development cycle through to mining. Most recently, she was director of mineral resources at Stornoway Diamonds.
Previously reported intercept of 162 g/t Ag, 15.5% Pb and 4.1% Zn over 3 metres interpreted to be the extension of the Curlew Vein from the Blackhawk Mine
Silver Dollar Resources Inc. (CSE: SLV) (OTCQX: SLVDF) (FSE: 4YW) ("Silver Dollar" or the "Company") is pleased to report geologic modeling results correlating to the recently reported near-surface drilling discoveries at the Ranger-Page Project located in northern Idaho's prolific Coeur d'Alene Mining District.
Figure 1: Plan map showing faults, veins and drill pad locations from Phase-1 exploration at Ranger-Page, including the east extension of the Curlew Vein.
To view an enhanced version of this graphic, please visit:
https://silverdollarresources.com/images/Ranger-Page/Figure-1_Exploration-Update.jpg
Curlew Vein Extension
Geologic modeling of Silver Dollar's phase-1 exploration drilling results indicate that the Curlew Vein extends east from the Blackhawk Mine into the vicinity of the Wyoming Complex (Figure 1). The structural complexity of the area was likely the reason the Wyoming Complex proved to be a challenge for past producers on the property. Phase-1 drilling discovered mineralization in the footwall of the 96 Fault, which was the primary structure worked at the Wyoming Complex. Silver Dollar believes this footwall mineralization is the Curlew Vein and demonstrated its continuity between the Wyoming Complex and the Blackhawk Mine during Phase-1 exploration drilling (Figure 2).
Figure 2: Long section looking northeast showing the location of Phase-1 exploration drilling results relative to the Curlew Vein projection east from the Blackhawk Mine.
To view an enhanced version of this graphic, please visit:
https://silverdollarresources.com/images/Ranger-Page/Figure-2_Exploration-Update.jpg
The planning of near-term exploration activities is ongoing and includes:
Blackhawk (Curlew Vein)
Drill planning is underway to expand the Curlew Vein along strike, up and down dip of the known extent of the Blackhawk Mine. Upper Curlew exploration is relatively inexpensive and can be done from drill pads requiring minimal effort to establish. Further success exploring the uppermost Curlew Vein could justify deep exploration below the Blackhawk mine, which can be done via deep surface drilling programs, or underground drill pad development. The next phase of drilling should focus on expanding mineral continuity between the Phase-1 drilling (Figure-2) and the Blackhawk mine to the west.
West Buckeye
The West Buckeye target is a prominent polarization anomaly identified during the ground IP survey completed in 2022 (Figure 3). The anomaly is significant because it has a 260-metre dip extension, and the same polarization and resistivity response as the Curlew Vein discovery between the Blackhawk Mine and the Wyoming Complex. To validate West Buckeye for drilling, Silver Dollar plans to complete a geochemical survey over the anomaly, update geologic mapping and develop a budget to drill the target. West Buckeye exploration efforts can begin later this spring when the snow has melted from the target area and access is re-established.
Figure 3: Plan view showing the location of the West Buckeye target and supporting polarization data.
To view an enhanced version of this graphic, please visit:
https://silverdollarresources.com/images/Ranger-Page/Figure-3_Exploration-Update.jpg
Crown Point
Phase-1 Exploration drilling at Crown Point extended mineralization west of the historic mine workings by 100 metres (See news release of March 11, 2025). Geologic modeling, drilling, and trenching results indicate there are up to three veins present at Crown Point (Crown Point 1, 2 and 3 Veins) (Figure 4). Phase-1 drilling identified two of the three veins at Crown Point. To drill the third vein (Crown Point 3), a drilling platform to the south would be necessary. Exploration planning at Crown Point will focus on expanding the Crown Point veins down dip to the west, where the mineralization remains open for exploration drilling.
Figure 4: Plan view showing the projections (red) for Crown Point veins 1/2/3.
To view an enhanced version of this graphic, please visit:
https://silverdollarresources.com/images/Ranger-Page/Figure-4_Exploration-Update.jpg
Omega and 85 Veins
The Omega and 85 Veins sit in the footwall of the Tony Vein, which was the primary ore host for the Page Mine. The Omega and 85 Veins were discovered below the 2,770 level of the Page Mine, and the up-dip extension of the veins have not been properly explored. Ongoing geologic modeling is expected to improve the vein projections of the Omega and 85 Veins, allowing Silver Dollar to prospect for the surface expression of the veins. If exploration work on this target is promising, Silver Dollar will include the Omega and 85 Veins in future exploration drill planning.
Figure 5: Plan map of the Page Mine area showing the surface projection of the Tony, Omega and 85 Veins, which have been underexplored near surface.
To view an enhanced version of this graphic, please visit:
https://silverdollarresources.com/images/Ranger-Page/Figure-5_Exploration-Update.jpg
"Geologic modeling is providing a clearer understanding of our Phase-1 exploration drilling results at Ranger-Page and how they fit within the broader scope of the project," said Greg Lytle, president of Silver Dollar. "We are focused on carefully evaluating our targets to scale the project through continued success at the drill bit and delivering the best possible returns for our shareholders."
Qualified Person
Dale Moore, P.Geo., a Qualified Person as defined in National Instrument 43-101, has reviewed and approved the technical contents of this news release on behalf of the Company.
About the Ranger-Page Project
Located in a world-class silver district, the Ranger-Page land package covers six historic mines and is ideally situated near Interstate 90 with year-round access to power, water, local infrastructure and a workforce in the Silver Valley skilled in exploration and mining. The primary target areas are up and down plunge from historic underground mining, along strike where ground IP surveys have identified anomalies, and where surface trenching identified near surface mineralization. Additional exploration targets have also been identified away from historic mine infrastructure, using soil geochemical data, mapping, and ground IP survey data.
Figure 6: Ranger-Page claim groups, underground mine workings, and new target areas.
To view an enhanced version of this graphic, please visit:
https://silverdollarresources.com/images/Ranger-Page/Ranger-Page_Claims-Targets.jpg
About Silver Dollar Resources Inc.
Silver Dollar is a dynamic mineral exploration company focused on two of North America's premier mining regions: Idaho's prolific Silver Valley and the Durango-Zacatecas silver-gold belt. Our portfolio includes the advanced-stage Ranger-Page and La Joya projects, along with the early-stage Nora project. The Company's financial backers include renowned mining investor Eric Sprott, our largest shareholder. Silver Dollar's management team is committed to an aggressive growth strategy and is actively reviewing potential acquisitions with a focus on drill-ready projects in mining-friendly jurisdictions.
For additional information, you can download our latest presentation here and follow us on X here.
ON BEHALF OF THE BOARD
Signed "Gregory Lytle"
Gregory Lytle,
President & CEO
Silver Dollar Resources Inc.
Direct line: (604) 839-6946
Email: greg@silverdollarresources.com
179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9
Forward-Looking Statements:
This news release may contain "forward-looking statements." Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248639
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