Boab Metals Initiates Phase VIII Drilling at Sorby Hills Project
BOAB METALS LIMITED (BML) Share Update August 2024 Friday 2nd
Boab Metals Commences Phase VIII Drilling at Sorby Hills
Boab Metals Limited (ASX: BML) has announced the commencement of Phase VIII drilling at its Sorby Hills Lead-Silver-Zinc project in Western Australia, aiming to explore a promising new mineralization zone.
Instant Summary:
- Drill rig on site; Phase VIII drill program has started.
- Initial program includes up to 1,600 meters across 4 drill holes.
- Principal follow-up target is the discovery intercept of 9.55 meters at 5.10% PbEq in 2023.
- Phase VIII drilling expected to take 4 weeks; assay results targeted for early Q4 2024.
Drilling Details
Boab Metals Limited has commenced its Phase VIII drilling program at the Sorby Hills project, focusing on a new mineralization zone identified at the Keep Seismic Target, located approximately 2 kilometers south of the existing Sorby Hills reserves.
The initial drilling program will cover up to 1,600 meters across 4 drill holes. The main target is the significant mineralization intercept discovered in 2023, which showed 9.55 meters at 5.10% PbEq from 242 meters in drill hole SHSD_185.
Previous Discoveries
In late 2023, Boab Metals completed its Phase VII drilling program, testing a conceptual exploration target south of the Sorby Hills deposit. The significant intercept in drill hole SHSD_185 included 9.55 meters at 5.10% PbEq, with notable concentrations of lead and zinc.
The mineralization was found approximately 20 meters below the Knox Formation/Sorby Dolomite contact, suggesting potential for further exploration along the stratigraphic position.
Phase VIII Program
The Phase VIII program aims to confirm and extend the new mineralization intersected in 2023. The planned drill holes are designed as 100-meter step-outs from the original drill hole to enable correlation and interpretation of results.
The program is expected to take approximately 4 weeks to complete, with assay results targeted for early Q4 2024. Boab Metals is prepared to extend the drilling program if the results warrant further exploration.
The commencement of Phase VIII drilling at Sorby Hills is a positive development for Boab Metals. Successful confirmation and extension of the new mineralization could significantly enhance the project's value, potentially boosting the company's stock price. Investors will be keenly watching the assay results due in early Q4 2024.
Investor Reaction:
Analysts are likely to react positively to the commencement of the Phase VIII drilling program, given the promising initial intercepts. However, the final impact will depend on the assay results and the potential for further mineralization.
Conclusion:
Investors should monitor the progress of the Phase VIII drilling program and the upcoming assay results. Boab Metals' ability to confirm and extend the new mineralization will be crucial for the project's future development and investor confidence.