Boab Metals Issues Advisory on Visual Mineralisation Estimates in Sorby Hills Reserve Growth Update

Overview of Boab Metals' Sorby Hills Project and Reserve Growth Strategy

Boab Metals Limited is an Australian minerals exploration and development firm prioritising advancement of the Sorby Hills project. This significant polymetallic deposit in Western Australia targets silver, lead, and zinc mineralisation. The company’s reserve growth program aims to expand the mineral resource base and support future development planning. This initiative reflects Boab’s strategic goal to enhance resource definition and progress the asset toward potential production.

The reserve growth program at Sorby Hills involves systematic exploration and resource definition efforts to better characterise mineralisation. Boab has been conducting core and chip sampling campaigns to collect geological data for reserve and resource estimation. The 23 July 2026 announcement included early visual observations from exploration drilling, prompting the need for clarification on interpreting such preliminary geological information.

Importance of Laboratory Verification Over Visual Mineralisation Estimates

Boab emphasises that visual descriptions and qualitative estimates of mineral content from core and chip samples carry inherent uncertainty and must be treated cautiously. Visual mineralisation assessment—observing visible ore minerals in drill core or samples—offers preliminary guidance on mineral presence and distribution but cannot determine precise widths, true grades, or quantitative mineral content required for formal resource classification or reserve calculations.

The company’s caution highlights a key principle in mineral resource estimation: laboratory assay analysis is the sole reliable method to determine actual grade and width of mineralised zones. Assays provide quantitative chemical analysis, establishing metal concentrations and enabling accurate resource modelling. Visual estimates may misrepresent mineralisation due to factors like variable mineral visibility, lighting conditions, and subjective assessment. Boab’s clarification aligns with industry best practice disclosure standards.

Current Sampling Activities and Expected Timing for Laboratory Results

Boab is actively sampling mineralised zones identified during recent exploration at Sorby Hills. These samples have been sent for laboratory analysis to determine definitive widths, grades, and metal concentrations. The sampling program is comprehensive, capturing representative material from visually observed mineralised intervals documented in the earlier announcement.

Laboratory assay results are expected late in the September Quarter 2026, indicating analytical work is progressing according to standard industry protocols. Receiving these results will enhance Boab’s geological understanding of Sorby Hills mineralisation and support more precise resource definition. Investors should consider this reporting window a critical milestone for verified mineralisation data.

Impact of Laboratory Assays on Sorby Hills Resource Definition

Upon receipt of laboratory assay results, Boab will validate or refine preliminary visual observations from the 23 July 2026 announcement. Assay data will establish actual metal grades within sampled intervals, allowing assessment of the mineralisation’s economic potential. For polymetallic deposits like Sorby Hills, targeting silver, lead, and zinc, combined metal grades influence overall value potential.

The assay results will also clarify the geometry and continuity of mineralised zones, aiding geologists in developing robust three-dimensional deposit models. This improved understanding is essential for reserve and resource estimation, supporting feasibility studies and development planning. Transitioning from visual observations to quantified assay data marks a vital step in advancing Boab’s reserve growth program from exploration to formal resource definition.

Industry Standards and Best Practices in Mineral Resource Reporting

Boab’s advisory aligns with established best practices and regulatory requirements in the Australian minerals sector. The ASX Listing Rules and the JORC Code mandate strict standards for public disclosure of mineralisation data. While visual observations are valuable to exploration teams, they are insufficient for formal resource classification or public guidance without supporting laboratory verification. Boab’s proactive clarification demonstrates compliance with these principles and management’s commitment to providing shareholders with appropriately qualified geological information.

In exploration-stage projects, early visual observations are routine field activities. However, converting such preliminary data into market-sensitive announcements requires careful consideration to avoid misinterpretation by investors. Boab’s supplementary guidance ensures investors understand the preliminary nature of visual observations and the necessity of awaiting laboratory verification before drawing conclusions on mineralisation widths and grades.

Risks and Uncertainties in Early Exploration Data

The caution regarding visual mineralisation estimates reflects inherent uncertainties in early exploration. Mineralisation observed in drill core may not maintain consistent grades or widths with depth or laterally. Sampling bias, selective sampling, or mineralisation variability can cause visual observations to misrepresent average grades or true ore widths. Moreover, visible mineralisation does not guarantee economic viability; factors like grade thresholds, mining costs, metallurgical recovery, and market prices determine if mineralisation forms a mineable reserve.

Investors should recognise that exploration-stage results carry significant uncertainty. Even after receiving assay data, further drilling, metallurgical testing, and economic evaluation will be necessary to advance the project. Boab’s explicit caution serves as a reminder not to base investment decisions solely on preliminary visual observations regarding Sorby Hills or the company’s prospects.

Governance and Authorization of the Clarification

The Board of Directors has authorised the release of this clarification announcement, indicating appropriate governance oversight and official company endorsement of the caution on visual mineralisation estimates. Board involvement reflects management’s assessment of the need for enhanced investor communication about interpreting the 23 July 2026 announcement.

Simon Noon, Managing Director and CEO, is available for further information on Sorby Hills activities and the reserve growth program. Providing management contact details facilitates investor engagement and transparency regarding Boab’s exploration progress.

Upcoming Milestones and Investor Focus Areas for Boab Metals

The next key milestone for investors is the receipt and publication of laboratory assay results from the current sampling program, expected in the September Quarter 2026. These results will provide the quantitative basis to confirm or adjust preliminary visual observations from the Sorby Hills reserve growth program and underpin updated resource estimates or further announcements.

Following the September Quarter results, investors should monitor Boab’s updates on assay interpretations, geological model revisions, and plans for ongoing exploration and resource definition at Sorby Hills. Progressing from visual observations through laboratory analysis to formal resource estimation is a typical staged development process for exploration projects. Market participants should stay alert to both positive developments and any changes in the timeline for reserve definition activities.