Annual and final report EL 30305 for the period 9 June 2009 to 8 July 2025

Abstract

This is the Final Surrender Report for EL 30305, covering mineral exploration activities conducted by Boab Metals Ltd (Boab) during the period of tenure from 9 June 2009 to 8 July 2025. It includes description of the previously unreported period from 11 April 2025 to 8 July 2025. EL 30305 covered 23 blocks (76 km2) of the Borroloola West Project Group. The Project area is located about 650 km 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, a geo-tectonic domain occupied by Middle Proterozoic sediments and minor volcanics of the Tawallah, McArthur and Roper Groups of the McArthur Basin with Cretaceous and Tertiary cover sediments. Exploration over EL 30305 during the period of tenure comprised geological mapping, and the drilling of three RC holes (total 650m) over the South Lorella prospect. The title was subject to comprehensive technical review and assessment as part of the broader Borroloola West Project. Boab Metals' evaluation suggests that it is unlikely there is a near-surface sediment-hosted massive sulfide lead-zinc-silver deposit hosted in the Barney Creek Formation on EL 30305. As a result of this review Boab has decided to relinquish the tenement.