Boab Metals (ASX: BML): Sorby Hills Phase VII drilling progressing ahead of schedule

July 14, 2023 11:55 AM AEST | By Sonal Goyal

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Boab Metals (ASX: BML): Sorby Hills Phase VII drilling progressing ahead of schedule — Image source: BML PPT

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Highlights

BML has updated on the completion of 60% of the Phase VII drilling at Sorby Hills.

The drilling program is running ahead of schedule and within the budget.

The campaign is anticipated to be concluded by July-end, and assays are expected towards the end of the September quarter.

Boab Metals Limited (ASX: BML) has updated on the ongoing Phase VII drilling campaign at its 75%-owned Sorby Hills Lead-Silver-Zinc Joint Venture Project. The Company announced an above target progress for the campaign with 60% completion.

The drilling program is moving ahead of the planned schedule and below budget, says the Company.

Considering the present projections, the Company believes that it would undertake additional exploration drill holes within the program budget.

Boab expects to conclude the campaign by the end of this month. The assay results are anticipated during the September quarter.

Source: Company update

Details of the drilling program

The Phase VII drilling campaign is focused on 19 diamond drill holes for ~2,000m. It is being conducted with the aim of expanding the Sorby Hills Reserve base through additional metallurgical testwork, extensional and in-fill drilling.

Under the ongoing Phase VII program, a total of 10 drill holes have been completed so far covering approximately 60% of the planned metres. The Company’s decision to opt for a sonic drilling method to penetrate the unconsolidated cover rocks turned out to be favourable, and improved productivity. In such a scenario, it is likely that the firm will be able to conclude additional exploration drill holes within the original budget.

Data source: company update

Keep Seismic Target
Considering the ongoing drill campaign will progress with similar efficiency and productivity, Boab plans to drill the Keep Seismic Target during the phase VII work program. The target is an extensional graben setting up-dip in the hinge zone of a major half-graben down dip. The target is present within the licence area and is estimated to have an approximate depth of 200-400m.

BML shares were trading at AU$0.175 at the time of writing on 14 July 2023.

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