SORBY HILLS JV

Boab owns 75% of the Sorby Hills Joint Venture Project. Sorby Hills is located 50km from the regional centre of Kununurra. There are existing sealed roads to transport concentrate from site to the facilities at Wyndham Port, a distance of 150km, and established infrastructure allows for fast track production. Our joint venture partner, with a 25% contribution is Henan Yuguang Gold Lead Co. Ltd. Henan Yuguang is China’s largest lead smelting enterprise and largest silver producer.

Since the commencement of exploration and resource delineation work by Boab in 2018, the Company has completed over 300 drill holes for just under 25,000 m over five drilling campaigns of which the majority are diamond drill holes. In the process the Company has reached several critical milestones towards development. The aggressive work schedule has served multiple technical purposes and resulted in the release of three mineral resource statements (MRE).

Boab’s work programs have advanced the Sorby Hills Pb-Ag (Zn) project significantly towards the completion of an Optimised Pre-Feasibility Study (OPFS) by facilitating increased levels of confidence in the areas of:

• Geology
• Mineralisation
• Metallurgy
• Hydro-geology and
• Geotechnics