Boab Metals (BML) has acquired the Manbarrum zinc-lead-silver project from Todd River Resources. The project is located 25 kilometers from its flagship mine Sorby Hills.
Under the deal, BML will pay $500,000 to obtain 100pc of the project, along with a net smelter return royalty of 1.25pc.
The Company expects the geological relation between Manbarrum and Sorby Hills to allow for systematic exploration and economic evaluation.
The company also announced that the Phase V drilling at its Sorby Hills lead-silver-zinc project in Western Australia has yielded additional mineralization in the Northwest area of the mine.
In this area, the miner has found ore containing 7.08pc lead and silver estimated at 91grammes/mt at a drilling depth of 108 meters. At 82 meters the ore yielded 2.69pc lead and 22g/mt silver and 3.39pc lead and 15g/t silver at 58 meters.
In April, the company had estimated the total resources from Sorby Hills at 44.9mn mt grading at 4.3pc lead and 0.5pc zinc.