Boab Metals' Sorby Hills Project Hits Key Milestones

Boab Metals (ASX:BML) has been in the spotlight due to its solid position as a pre-production miner. The company's Sorby Hills silver-lead project is fully owned, permitted, funded and under construction, with first concentrate targeted for the second half of 2027.

The recent rally in shares cannot be attributed to a single announcement, but rather the combination of a strong silver price and encouraging drilling results. In July 2026, Boab reported that roughly 60% of its Phase IX drilling program had been completed, with high-grade galena at the Norton deposit and mineralisation extending beyond existing pit designs.

Construction has continued to progress, with the relocation of Sandfire Resources' former DeGrussa processing plant to the Sorby Hills site underway. Boab awarded a A$109 million engineering contract in May 2026, which trades some second-hand equipment risk for lower capital intensity and a shorter build.

The company has a defined reserve of 15.2 million tonnes at 3.5% lead and 39 grams per tonne silver, with an ore reserve containing 531,000 tonnes of lead and 19.1 million ounces of silver. The broader mineral resource sits at 47.3 million tonnes at 3.1% lead, 0.4% zinc and 35g/t silver.