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Exceptional Silver-Lead-Zinc Intercepts at Pinnacles

8.9m @ 920g/t Ag, 12.2% Pb and 1.3% Zn (36.3% ZnEq) from 11m - PN311

  •  Incl. 5.9m @ 1,350 g/t Ag, 17.4% Pb, 1.9% Zn (52.8% ZnEq) from 14m  

8.2m @ 763g/t Ag, 13.4% Pb and 1.7% Zn (33.1% ZnEq) from 18m - PN310

  •  Incl. 3.0m @ 1,245 g/t Ag, 24.1% Pb, 0.5% Zn (53.5% ZnEq) from 18m 

11.8m @ 476g/t Ag, 7.4% Pb and 0.7% Zn (19.5% ZnEq) from 3m - PN314

  • Incl. 0.5m @ 2,380 g/t Ag, 27.3% Pb, 0.3% Zn (87.6% ZnEq) from 14m
  • Incl. 1.0m @ 1,675 g/t Ag, 25.0% Pb, 0.2% Zn (65.9% ZnEq) from 10m  

19.4m @ 443g/t Ag, 8.3% Pb and 0.7% Zn (19.3% ZnEq) from 95m - PN306

  •  Incl. 13.0m @ 558 g/t Ag, 10.3% Pb, 0.4% Zn (23.7% ZnEq) from 98m 

4.0m @ 536g/t Ag, 9.9% Pb and 2.0% Zn (24.5% ZnEq) from 60m - PN302

5.0m @ 79g/t Ag, 2.3% Pb and 18.6% Zn (22.6% ZnEq) from 17m - PN313

5.0m @ 54g/t Ag, 1.6% Pb and 18.6% Zn (21.3% ZnEq) from 18m - PN313-A

5.2m @ 278g/t Ag, 5.4% Pb and 1.6% Zn (13.4% ZnEq) from 200m - PN325

12.0m @ 36g/t Ag, 0.7% Pb and 10.0% Zn (11.5% ZnEq) from 233m - PN325

6.0m @ 37g/t Ag, 1.0% Pb and 9.2% Zn (11.1% ZnEq) from 30m - PN311

10.9m @ 29g/t Ag, 0.7% Pb and 9.0% Zn (10.4% ZnEq) from 21m - PN314

ASX Announcement

Multiple, very high-grade, shallow silver-lead-zinc drilling intercepts at Pinnacles

SUSTAINABILITY

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Community

Committed to a Meaningful Contribution

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Health & Safety

Committed to a WH&S

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Environment

Committed to Protecting the Environment

Acquisition of 100% of issued capital in Broken Hill Mines Pty Ltd (BHM), which is party to:

Acquisition of 100% of issued capital in Broken Hill Mines Pty Ltd (BHM), which is party to:

Acquisition of 100% of issued capital in Broken Hill Mines Pty Ltd (BHM), which is party to:

  • Rasp Ag-Pb-Zn Mine Agreement: Acquisition of the Rasp Mine in Broken Hill, NSW from CBH Resources Limited  (wholly owned subsidiary of Toho Zinc Ltd) 
  • Pinnacles Ag-Pb-Zn JV Agreement: Option over a 70% profit sharing interest in the development and  operation of the Pinnacles Mine, located 15km from the Rasp Mine  

Existing JORC 2012 Mineral Resource (MRE) with Exploration Target upside:

Acquisition of 100% of issued capital in Broken Hill Mines Pty Ltd (BHM), which is party to:

Acquisition of 100% of issued capital in Broken Hill Mines Pty Ltd (BHM), which is party to:

  • Rasp MRE: 10.1Mt at 9.4% ZnEq (5.7% Zn, 3.2% Pb and 49g/t Ag)
  • Pinnacles MRE: 6.0Mt at 10.9% ZnEq (4.7% Zn, 3.3% Pb, 133g/t Ag & 0.5g/t Au)  - Inc. Perseverance Deposit: 3.5Mt at 12.3% ZnEq (4.5% Zn, 4.1% Pb, 166g/t Ag & 0.5g/t Au)
  • Pinnacles Exploration Target : 6.0 - 15.0Mt at 2.0 - 4.0% Zn, 3.0 - 6.0% Pb & 40 - 125g/t Ag 

Rasp Mine Currently Operational & Pinnacles Mine on C&M:

Rasp Mine Currently Operational & Pinnacles Mine on C&M:

Rasp Mine Currently Operational & Pinnacles Mine on C&M:

  • Strategy to consolidate operational Rasp infrastructure with Pinnacles mineral resource base
  • Rasp Mine net cashflow from current operations 1H CY2024 A$8.3 million
  • Rasp current throughput ~ 400,000tpa, with plant design capacity 750,000tpa
  • Rasp has been a consistent producer of low impurity zinc and lead-silver concentrates since 2012, with established concentrate logistics supply chain to domestic and international smelters
  • Concentrate Offtakes: BHM has secured new offtake agreements for zinc inc. US$5.3 million (~A$8.0 million)  financing (committed) & lead inc. US$10 million (~A$15 million) financing (conditional) 

Transformational Transaction for Coolabah Metals:

Rasp Mine Currently Operational & Pinnacles Mine on C&M:

Rasp Mine Currently Operational & Pinnacles Mine on C&M:

  • New Team: Coolabah Board & management changes, adding significant operational and commercial  experience in base metals operations, inc: Patrick Walta (proposed Executive Chairman), Mark Hine (proposed  NED), Brent Walsh (proposed NED), Steve Woodham (current Chair transitioning to NED)
  • Strong Cash Position: Coolabah to hold cash and committed undrawn financing estimated between A$16.5  million to A$17.5 million (excludes ~A$15 million in conditional lead offtake financing)
  • Environmental Bonding: Coolabah to also hold A$16.9 million in restricted cash via fully cash backed  environmental bonds in place for Rasp
  • Proposed Coolabah name change to ‘Broken Hill Mines Limited’ & ASX Chapters 1 & 2 re-compliance  

Learn more about the MATERIAL TRANSACTIONLearn more about recent announcements

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