Announcement PDF 23 July 2026 Boab Advances Reserve Growth Program at Sorby Hills with Encouraging Early Results Boab Metals Limited (ASX:BML) ("Boab" or the "Company") is pleased to provide an update on its 2026 growth drilling program at the Sorby Hills Silver-Lead-Zinc Project in Western Australia, where approximately 60% of the planned program has now been completed. Early geological observations continue to reinforce the potential to increase Ore Reserves, extend mine life and unlock additional value from the fully funded Sorby Hills Project. HIGHLIGHTS • Approximately 60% of the Phase IX drilling program completed. • All planned Reserve Conversion drilling completed at the key B, Omega and Norton deposits with more than 860 samples submitted for laboratory analysis. • Encouraging visual mineralisation encountered in multiple holes, including extensions beyond the current FEED Study pit designs. • High-grade galena intersected at Norton, supporting the potential expansion of a known high-grade zone. • Results reinforce potential Reserve growth, mine-life extension and increased silver exposure. Boab Managing Director and CEO, Simon Noon, stated: "This drilling program is already reinforcing our belief that Sorby Hills has the potential to grow well beyond the current FEED Study. Early geological observations indicate that mineralisation continues beyond areas currently incorporated within the Sorby Hills mine plan and, in a number of locations, appears broader than our existing geological model predicts. While assay results are still pending, these observations provide growing confidence that the program can deliver additional Ore Reserves and further strengthen the long-term production profile of the Project. With Sorby Hills fully funded and under construction, every opportunity to add Ore Reserves, extend mine life or increase silver production has the potential to create meaningful shareholder value. This program has been specifically designed to capture that upside, and we are encouraged by what we have seen so far. We look forward to reporting assay results as they become available and demonstrating the value this program can add to Australia's next major silver producer." 2 Figure 1: Location of the Sorby Hills Project. Growing the Sorby Hills Production Profile Boab announced in May 2026 plans to undertake a targeted drilling program across Sorby Hills and its adjoining landholdings in the onshore Bonaparte Gulf Basin (Figure 1). The program was designed to support both near-term production ramp-up and longer-term value creation. At Sorby Hills, planned drilling includes: • Resource-to-Reserve conversion drilling, focused on upgrading portions of the existing Mineral Resource to support detailed mine planning and production scheduling, noting that such conversion drilling is not a condition to drawing on the project finance debt facility; • Silver-focused resource expansion drilling, targeting extensions to known mineralisation, particularly silver intercepts previously excluded due to lead-only below cut-off grade. This work may support a re-estimation of the Mineral Resource on a combined lead-silver basis and potential mine-life extensions; and, • Exploration drilling within the broader Sorby Hills tenure, testing targets identified from geological interpretation and historical datasets. 3 Figure 2: Plan view of the Sorby Hills Project showing the locations of planned and completed Phase IX drill hole collars with respect to Mineral Resource and FEED Study open pit. Phase IX Drilling Program The Phase IX drilling program has been specifically designed to enhance the long-term value of Sorby Hills by increasing Ore Reserves, expanding silver-rich mineralisation and identifying opportunities to extend the current mine plan beyond the FEED Study (Figure 2). The Phase IX program is designed to increase the Sorby Hills Ore Reserve, extend mine life beyond the current FEED Study and further enhance the Project’s significant silver endowment. To date, Boab has completed 28 Sonic/Diamond core bore holes for a total of about 3,000m out of a total of about 5,000m. All drill holes planned for B-Deposit, Omega and Norton (the main resource areas for the FEED Study) have now been completed. 4 Remaining, are the drill holes planned for the Beta Deposit, the Keep Target and one deep drill hole at the Manbarrum Project. Near Pit Targets Drilling successfully intersected the targeted mineralised horizons across all priority areas, validating the current geological interpretation. Several holes encountered mineralised intervals that appear broader than currently modelled, providing encouraging indications of potential Resource and Reserve growth. At the B-Deposit, 7 drill holes were completed mostly along the eastern down-dip perimeter but also up-dip (Figure 3). The areas targeted are locations where positive results have potentially a positive impact. Figure 3 shows a section of the B-Deposit where mineralisation was tested up-dip and down dip, but outside the current FEED Study pit shell. The geological model boundaries were intersected with meter-range accuracy. Mineralisation intervals were intersected as modelled, but their width exceeded the shapes interpreted based on nearby intercepts. SHSD_205 is likely to lead to an extension of the mineralisation up dip, to within 20m from surface and holes SHSD_203 and 204 are likely to impact the thickness of the ore zone at depth therefore potentially leading to a larger pit and ore tonnage. The positive result may be the result of a gentle synform and the preservation of the target horizon. Figure 3: X-section at the B-Deposit with the position of new drill holes, indication of mineralisation intercepts and geological interpretation (see Figure 2 for location). At the Omega-Deposit, 18 drill holes were completed mostly along the eastern down-dip perimeter. Figure 4 shows a section of the Omega-Deposit where mineralisation was tested near the northern perimeter, but outside the current FEED Study pit shell. The geological model boundaries were intersected with meter-range accuracy at all drill positions. Mineralisation intervals were intersected as modelled but in the majority of cases their width exceeds the mineralisation shapes interpreted. 5 Positive visual mineralisation intercepts were encountered in SHSD_195 in Omega South and SHSD_214 in the north (Figure 4, Figure 5). The economic impact of grade and the thickness of the mineralisation zone at depth may only be determined after laboratory analysis and optimisation. Figure 4: East - west x-section of a representative cross section at the Omega-Deposit with indication of mineralisation intercepts in Phase IX drilling and geological interpretation (see Figure 2 for location). A traverse of three (3) holes was completed at the Norton-Deposit, about 100m north of the pit perimeter (Figure 2). The drill holes were drilled to test the interpreted continuity of high-grade silver and lead mineralisation. Drill hole SHSD_216 delivered an exceptionally high-grade interval of galena mineralisation (Figure 5, 6 & 7) at the target depth, with width and grade exceeding the shape of mineralisation interpreted and which is open to the north (Figure 6 & 7 and Table 1). The results of SHSD_216 are likely to positively impact the cluster of high-grade intercepts immediately north and outside of the current pit perimeter by further affirming the extent and grade of this high-grade zone which is currently separated by a low-grade “breccia zone” of extensive deformation and oxidation. Interestingly, the hole also confirmed patchy, silver-dominated galena mineralization at a depth of 35 to 50m below surface. 6 Figure 5: Photographs of drill core SHSD_214 (RHS) and SHSD_216 (LHS and centre) illustrating the style of galena mineralisation intersected at Omega North and at Norton. Note: Table 1 provides detailed ore-sulphides estimates for the references drill intervals. Figure 6: North-South s-section of Norton-Deposit with indication of completed drill holes and geological interpretation (see Figure 2 for location). 7 Figure 7: Photographs of drill core SHSD_214 and SHSD_216 illustrating the style of galena mineralisation intersected in SHSD_216 at Norton. Note: Table 1 provides detailed ore-sulphides estimates for the references drill intervals. The drilling rig has now commenced its work at the Beta Deposit, 1.5 km north of Norton where 9 sonic/diamond drill holes for about 1,000m have been planned. The drill holes have been designed to assist in better delineating mineralisation geometry, grade distribution and continuity. 8 Boab also intends to advance exploration at its 100%-owned Manbarrum Zinc-Silver-Lead Project, located 25 km east of Sorby Hills. Drilling at Manbarrum will test priority targets and assess the potential for new discoveries and future resource definition. The Board of Directors have authorised this announcement for release to the market. FOR FURTHER INFORMATION, PLEASE CONTACT: Simon Noon Managing Director & CEO Phone: +61 (0)8 6268 0449 Email: info@BoabMetals.com About Boab Metals Limited Boab Metals Limited (“Boab”, ASX: BML) is a Western Australian (WA)-based base and precious metals company advancing the fully-funded and 100% owned Sorby Hills Silver-Lead Project in the East Kimberley. The Project, located 50km from Kununurra, has excellent access to existing sealed roads for transporting concentrate 150km to Wyndham Port. Following a Final Investment Decision in December 2025, the Company is advancing the Project toward first concentrate production in H2 2027, positioning Boab to capitalise on strong Silver and Lead market fundamentals and deliver long-term shareholder value. Compliance Statements The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the ‘JORC Code’) sets out minimum standards, recommendations and guidelines for Public Reporting in Australasia of Exploration Results, Mineral Resources and Ore Reserves. The information in this release that relates to Exploration Results is based on information prepared by Dr Simon Dorling. Dr Dorling is a member of the Australasian Institute of Geoscientists (Member Number: 3101). Dr Dorling has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the JORC Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Dorling consents to the inclusion in the release of the matters based on their information in the form and context in which it appears. Information included in this Announcement relating to Mineral Resources has been extracted from the Mineral Resource Estimate dated 17 December 2021, available to view at www.boabmetals.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the Mineral Resource Estimate and that all material assumptions and technical parameters underpinning the estimates, continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the Mineral Resource Estimate. 9 Table -1: Visual sulphide mineral estimate of core shown in Figure 6. BH_ID From To Interval Sulphide Mineral Estimate Lithology Formation Galena % Spalerite % Pyrite / Marcasite % SHSD_214 104 105 1 2.00 < 0.5 0.50 Slump Bxx Transition Facies SHSD_214 105 106 1 0.50 < 0.5 1.00 Slump Bxx Transition Facies SHSD_214 106 107 1 0.50 < 0.5 0.50 Slump Bxx Transition Facies SHSD_214 107 108 1 7.00 0.50 1.00 Dolomite Bxx Transition Facies SHSD_214 108 109 1 5.00 1.00 2.00 Slump Bxx Transition Facies SHSD_214 109 110 1 2.00 0.50 1.00 Slump Bxx Transition Facies SHSD_214 110 111 1 2.00 0.50 2.00 Slump Bxx Transition Facies SHSD_214 111 112 1 1.00 <0.5 1.00 Slump Bxx Transition Facies SHSD_214 112 113 1 2.00 <0.5 0.50 Slump Bxx Transition Facies SHSD_216 98 99 1 1.50 <0.5 0.50 Slump Breccia Transition Facies SHSD_216 99 100 1 <0.5 <0.5 0.50 Slump Breccia Transition Facies SHSD_216 100 101 1 2.50 <0.5 <0.5 Slump Breccia Transition Facies SHSD_216 101 102 1 0.50 <0.5 <0.5 Slump Breccia Transition Facies SHSD_216 102 103 1 14.00 <0.5 2.00 Slump Breccia Transition Facies SHSD_216 103 104 1 25.00 <0.5 2.00 Slump Breccia Transition Facies SHSD_216 104 105 1 20.00 <0.5 3.00 Slump Breccia Transition Facies SHSD_216 105 106 1 4.00 <0.5 1.00 Slump Breccia Transition Facies SHSD_216 106 107 1 3.00 <0.5 1.00 Slump Breccia Transition Facies SHSD_216 107 108 1 3.00 <0.5 1.00 Slump Breccia Transition Facies SHSD_216 108 109 1 2.00 <0.5 3.00 Slump Breccia Transition Facies SHSD_216 109 110 1 1.00 <0.5 0.50 Slump Breccia Transition Facies SHSD_216 110 111 1 0.50 <0.5 1.00 Slump Breccia Transition Facies 10 Note: 1. Galena contains ~ 85% Pb 2. Sphalerite contains ~ 64% Zn 3. Galena contains ~ 85% Pb 4. Deposit-wide Pb:Ag ratio is 1% : 10 ppm Appendix -1: *c = completed; tbd = to be drilled. Hole_ID Actual_ID east north rl P. Depth Actual Depth dip azi Status* 25MBSD_016 SHSD_190 498330 8291252 20 120 138.75 -70 270 c 25MBSD_015 SHSD_191 498125 8291149 21 50 72.75 -70 270 c 25MBSD_014 SHSD_192 498217 8291055 21 70 81.75 -70 270 c 25MBSD_013 SHSD_193 498326 8290953 20 140 141.75 -70 270 c 25MBSD_012 SHSD_194 498292 8290851 21 135 150.8 -70 270 c 25MBSD_011 SHSD_195 498266 8290756 20 130 150.8 -80 270 c 25MBSD_032 SHSD_196 498198 8290651 20 100 102.8 -70 270 c 25MBSD_009 SHSD_197 498167 8290598 20 100 108.8 -70 270 c 25MBSD_010 SHSD_198 498073 8290571 20 45 54.8 -70 270 c 25MBSD_008 SHSD_199 498025 8290598 20 75 75.8 -70 270 c 25MBSD_022 SHSD_200 497929 8290054 20 65 66.8 -70 270 c 25MBSD_007 SHSD_201 498037 8289953 20 95 102.8 -70 270 c 25MBSD_006 SHSD_202 498055 8289845 20 105 105.8 -65 270 c 25MBSD_021 SHSD_203 498057 8289804 20 115 111.8 -65 270 c 25MBSD_020 SHSD_204 497962 8289804 20 70 72.8 -75 270 c 25MBSD_033 SHSD_205 497697 8289749 20 50 51.8 -65 270 c 25MBSD_023 SHSD_206 497818 8290154 20 45 45.8 -70 270 c 25MBSD_024 SHSD_207 498001 8291710 20 60 60.8 -90 0 c 25MBSD_017 SHSD_208 498065 8291853 20 80 81.8 -70 270 c 25MBSD_025 SHSD_209A 498057 8291902 21 130 129.6 -65 270 c 25MBSD_018 SHSD_210 498028 8291954 20 120 123.6 -75 270 c 25MBSD_026 SHSD_211 498033 8292102 20 150 150.8 -90 0 c 25MBSD_027 SHSD_212 497981 8292202 20 130 129.8 -65 270 c 25MBSD_028 SHSD_213 497929 8292402 21 130 144.6 -65 270 c 25MBSD_019 SHSD_214 497852 8292453 21 120 141.8 -70 270 c 25MBSD_029 SHSD_215 497072 8293749 21 140 144.8 -70 270 c 25MBSD_030 SHSD_216 497018 8293787 21 130 129.8 -70 270 c 25MBSD_031 SHSD_217 496856 8293743 22 120 129.8 -70 270 c 24MBSD_002 TBD_002 521795 8301670 20 300 0 -70 45 tbd 25SHSD_001 TBD_003 498590 8288018 20 450 0 -65 270 tbd 25SHSD_002 TBD_004 498467 8287918 21 350 0 -65 270 tbd 26SHSD_003 TBD_005 498467 8288118 21 350 0 -65 270 tbd 25MBSD_034 TBD_022 496350 8294954 22 90 0 -80 270 tbd 25MBSD_035 TBD_023 496033 8295004 23 100 0 -70 270 tbd 25MBSD_036 TBD_024 496332 8295054 23 100 0 -75 270 tbd 25MBSD_037 TBD_025 496243 8295104 22 100 0 -90 0 tbd 25MBSD_038 TBD_026 496124 8295224 22 150 0 -75 270 tbd 25MBSD_039 TBD_027 496127 8295274 21 145 0 -75 270 tbd 25MBSD_040 TBD_028 496124 8295376 22 145 0 -75 270 tbd 25MBSD_041 TBD_029 496287 8295376 21 70 0 -90 0 tbd 25MBSD_042 TBD_030 496450 8295099 22 120 0 -75 270 tbd 11 Appendix 2: JORC Code 2012 Edition - Table 1 Section 1 Sampling Techniques (Criteria listed in the preceding section also apply to this section) Criteria JORC Code Explanation Commentary Sampling techniques • Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measureme nt tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. subm arine nodules) may warrant disclosure of detailed information. • For the sonic/diamond drilling program (from June to September 2026), sampling is conducted in the field. After geological logging and data capturing the cutting/sampling intervals were determined and marked. The drill core sample intervals destined for sampling have been and will be shipped to Intertec laboratories in Darwin/Perth for cutting and sampling. The sampling process is supervised by Boab geologists. • The Sonic pre-collars were geologically logged but not samples. The diamond core intervals were geologically logged by a geologist and assessed for visible mineralisation. Where necessary samples were also scanned with a portable XRF (Olympus InnovX Delta) for an indication of qualitative lead concentration. About 40% of all samples have been submitted to the laboratory. • The sampling methodology to be undertaken at Intertec laboratories is considered representative and appropriate for the carbonate hosted style of mineralisation at Sorby Hills and is consistent with sampling protocols in the past conducted by Boab. Drilling techniques • Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth • The drilling method used during the Phase IX 2026 drill program is sonic pre collars until bedrock is reached followed by HQ size diamond drilling (DD). 12 Criteria JORC Code Explanation Commentary of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc). Drill sample recovery • Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. • The sample (core) recovery is between 98 and 100% for most of the core drilling including the mineralised intervals. The were very few occasions where broken ground conditions were encountered where the core loss due to core grinding was encountered. Logging • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The DD core is logged at the temporary core site while a permanent core shed is constructed at Sorby Hills mine. The core is geotechnically, geologically, structurally and mineralogically logged and density measured on site and photographed. Sub-sampling techniques a nd sample preparation • If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field • ½ core samples are analysed cut and sampled for each drill hole. • The sampling is done between geologically distinguished lithological units and metallogenic domains. The Sample intervals are representative and appropriate for the nature and mineral distribution of this deposit type. 13 Criteria JORC Code Explanation Commentary duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled. Quality of assay data and laboratory tests • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. • All samples will be sent to Intertec Laboratories in Darwin/Perth for preparation and analysis. Duplicates, blanks and standards are inserted at regular intervals. • All samples will be assayed to accepted industry standards at the Intertec Laboratories in Perth. Four-acid digestion of pulverised sample followed by ICP-OES or equivalent assay technique. • Certified Ore Grade Base Metal Reference Material provided by Geostats Pty Ltd. The standards selected covered a range of lead and silver concentrations and there is good agreement between the Pb and Ag assays, and the mean values provided with the reference standards. For the standards the assayed values were within half of one standard deviation and more commonly below the mean suggesting that grade overestimation is not a significant problem in the dataset. • Duplicates and Blanks were also included in all sample despatches. Verification of sampling and assaying • The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and • Geological logs were digitally entered into data entry templates in MS Excel and entered into an Access database. • Assay certificates were received from the analytical laboratories and imported into the drill database. • No adjustments were made to the assay data. 14 Criteria JORC Code Explanation Commentary electronic) protocols. • Discuss any adjustment to assay data. Location of data points • Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control. • Accurately surveyed using a DGPS by a registered surveyor and recorded in GDA94 Zone 52 will be conducted at the end of the program. • All drill holes are surveyed down hole on completion of the drill hole with a Reflex Gyro tool every 30 m. • The initial siting of the drill hole position is based on planned coordinates from the 3D data base and GPS positioning in the field Data spacing and distribution • Data spacing for reporting of Exploration Results. • Whether the data spacing, and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied. • The spacing between new and existing drill holes can range from a minimum of 50 m to 25 m spaced collars. • All but one drill hole at the Omega Deposit are inclined at -60 to 70 degrees to the west to encounter the mineralised horizon orthogonal. • . Orientation of data in relation to geological structure • Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. • It is not considered that there is a significant sampling bias due to structure. Sample security • The measures taken to ensure sample security. • Cores trays are stored and processed at a secure facility at site. All samples are taken by Boab personnel to the truck depot in Kununurra and 15 Criteria JORC Code Explanation Commentary placed on pallets for transport direct to Intertec Laboratory in Darwin for sample prep. Audits or reviews • The results of any audits or reviews of sampling techniques and data. • To be undertaken. 16 Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.) Criteria JORC Code Explanation Commentary Mineral tenement and land tenure status • Type, referen ce name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. • Boab Minerals Ltd acquired a 75% interest in the Sorby Hills lead-silver project in Western Australia on 5 October 2018. Yuguang (Australia) Pty Ltd and wholly owned subsidiary of Henan Yuguang Gold & Lead Co. Ltd (HYG) owning the remaining 25%. The Sorby Hills Project comprises five mining leases (M80/196-197 and M80/285-287) (see Table 2 below), all of which are currently held jointly between Sorby Hills Pty Ltd (75%) and Yuguang (Australia) Pty Ltd (25%). • In addition, Boab has 100% ownership over the Eight Mile Project which is immediately south of the Sorby Project area. Table 2: Sorby Hills Tenement Summary • The Mining Leases are centred at coordinates 128°57’E, 15°27’N. • The project area is approximately 50 km north- northeast of the township of Kununurra and covers a total area of 12,612.40 hectares (ha). • The Mining Leases were granted prior to the High Court acknowledging Native Title and therefore native title has been extinguished over the MLs. • The project area lies adjacent to proposed Goomig Range Conservation Park. • Tenure is in good standing until 2030 (in some cases, out to 2031. M80/286 & M80/197 have a current cultural clearance access agreement in place; for the remaining mining tenements normal cultural clearance plans would be required. No mining agreement has been negotiated. Teneme nt Area (km2) Boab Owners hip % Granted Expiry M80/196 9.99 75% 22/01/198 8 21/01/203 0 M80/197 9.95 75% 22/01/198 8 21/01/203 0 M80/28 5 5.57 75% 29/03/19 89 28/03/20 31 M80/28 6 7.89 75% 29/03/19 89 28/03/20 31 M80/28 7 8.15 75% 29/03/19 89 28/03/20 31 E80/531 7 217 100% 05/03/20 20 04/03/20 25 Exploratio n done by other • Acknowledg ment and appraisal of exploration by • The Sorby Hills area has been systematically explored by numerous companies since 1971. Prominent amongst these were ELF Aquitaine (1973- 17 Criteria JORC Code Explanation Commentary parties other parties. 1981) with various JV partners (SEREM, St Joe Bonaparte & BHP), BHP (1981-1988), in JV with Triako; and CBH/Kimberley Metals/KBL Mining. • Previous work included, geologic mapping, soil geochemistry, airborne and ground geophysics and extensive drilling campaigns. Geology • Deposit type, geological setting and style of mineralisation. • The Sorby Hills mineralisation is regarded as having many features typical of Mississippi Valley Type (MVT) deposits. Recent geological assessment has refined this to a carbonate-replacement system, with the bulk of the mineralisation focused on the contact between the Lower Knox Sediments and the Upper Sorby Dolomite. However, at the Beta deposit the mineralisation is hosted in the hanging wall of the Knox Formation and within the Lower part of the Upper Formation, specifically withing graphitic fossiliferous carbonate rocks. • The Sorby Hills mineralisation consists of 7 discrete and partly amalgamated carbonate-hosted Ag Pb Zn deposits (previously referred to as pods): A–J, Beta East, Beta West and Alpha. The deposits form a curvi-linear north-south belt extending over 7 km, sub parallel to the eastern margin of the Precambrian Pincombe Inlier and within the Carboniferous Burt Range Formation of the Bonaparte Basin. • The bulk of the mineralisation is stratabound, disseminated and matrix replacing, hosted mainly below the contact between Knox Sediments and within a 10 to 25m thick interval of cyclic bedded and alternating, stratabound sedimentary breccias (slump breccias) and the Sorby Dolomite, locally defined as the “Transition Facies”. It is typically developed above the crystalline dolomite unit and overlying silty dolomites which generally dips shallowly to the east. • However, during the course of this work program at least one drill hole drilled deeper into the footwall also indicated a zone of intense hydrothermal breccia type of mineralization. While this style of mineralisation is sporadically referenced in the past its geometry is yet to be defined; its location in the hanging wall of a structure may suggest a genetic correlation which can serve as a guide to future targeting. • The stratabound deposits average 7–10 m in thickness, are from 2 km long and 100 to 500 m wide. There is some structural control to the mineralisation, with higher grade zones associated with faulting. Mineralisation is often thicker and/or of higher grade in areas of strong brecciation. • The Sorby Hills primary mineralisation is typically sil