What has happened?
Boab Metals (ASX:BML) announced plans for a Phase V drilling program set to commence in April 2021 at the conclusion of the wet season. The purpose of the Phase V drilling program is to investigate the potential to expand the proposed processing capacity at the 75% owned Sorby Hills Lead-Silver-Zinc Project, located in the Kimberley Region of Western Australia.
What are the key highlights?
- A recent Boab Pre-Feasibility Study (PFS) confirmed that the 75% owned Sorby Hills site is underpinned by a large near surface Lead-Silver-Zinc deposit comprising a Mineral Resource of 44.1Mt at 3.3% Lead, 38g/t Silver and 0.5% Zinc, and Proved and Probable Reserves of 13.6Mt at 3.6% Lead, and 40g/t Silver.
- The proposed Phase V drilling program will include up to 6,000m of high impact drilling with the primary objectives of the program being to materially increase the mining inventory at Sorby Hills and to investigate the potential to increase the processing plant capacity.
- The PFS highlights the low-risk nature of the Sorby Hills Project with a well-defined large-scale Mineral Resource, conventional crush-mill-float processing circuit, high metal recoveries and key approvals received.