Partial Reduction Report Exploration Licences 26938 & 26939 Borroloola West Project for the period 9 June 2009 to 19 June 2024

Abstract

This partial reduction report for the period 9 June 2009 to 19 June 2024, covers the mineral exploration completed by Boab Metals Ltd ('Boab') on two granted Exploration Licences, covering 246 blocks (811km2) of the Borroloola West Project Group, Reporting Number GR121-13. The Borroloola West Project consists of granted Exploration Licences (EL's) 26938, 26939, 28658, and 30305. EL 32630 and EL 32631 applications have been submitted by Boab in 2022. Both of these applications are yet to be granted. The Project area is located about 650km southeast of Darwin in the Gulf Country of the Northern Territory. On the eastern side is the township of Borroloola and the McArthur River Mine. Cape Crawford lies to the south of the Project area. The area lies within the Batten Trough of the Middle Proterozoic sediments and minor volcanics of the Tawallah, McArthur and Roper Groups of the McArthur Basin with Cretaceous and Tertiary cover sediments. During the 2023/2024 reporting period, Boab amalgamated the existing data, sourced further public domain information, reviewed research documents and conducted a technical assessment over the licence areas. In the new reporting period Boab is planning to ground truth, including geological mapping and rock chip sampling at the Lorella, Mariner, Coppermine Creek and Limestone Creek prospects. The rock chip sample density will be extended and prepared for a geochemical data base for AI technology investigation. Boab is of the view that there is further strong potential for significant copper and lead zinc mineralisation in this area and the focus for the next reporting period is to ground truth the project area through field investigations and refine mineralisation targeting concepts to define drill targets.