Advancing Halls Creek with New Metallurgical Program

Cobalt Blue has completed a targeted core sampling program at the Halls Creek Project in Western Australia, launching a metallurgical testwork program that could unlock silver as a significant new revenue stream alongside copper and zinc — while also simplifying the project's development pathway. Results will feed into an updated Scoping Study targeting completion in Q4 2026, with a Pre-Feasibility Study to follow.

Simplifying the Development Path

The testwork has two main objectives: optimising the Stage 1 Onedin heap leach flowsheet, and evaluating whether material from both Onedin and Sandiego could be treated through a single heap leach operation. If supported by results, the combined approach could reduce development complexity and improve capital efficiency compared to a multi-stage pathway.

Silver in Focus

The June 2025 Scoping Study only looked at copper and zinc recovery from Stage 1 — silver wasn't in the picture. That changes with this program. A core objective of the metallurgical testwork is to find out whether silver can be recovered through the heap leach process, what recoveries are achievable, and whether it stacks up well enough to be incorporated into the revised Stage 1 flowsheet and economic evaluation.

Building Toward a Regional Hub

Cobalt Blue sees Halls Creek as the foundation for a potential centralised processing facility capable of drawing feed from satellite deposits and exploration targets across the broader tenement package — a regional hub concept that could significantly expand the project's long-term value.

Testwork is being conducted at the Broken Hill Technology Centre using Cobalt Blue's in-house metallurgical team. Results are expected to inform an updated Scoping Study.

Joint Venture Position

Cobalt Blue has secured its 51% beneficial interest in the Halls Creek Project, having met the minimum $500,000 expenditure threshold under the project's Earn-in Agreement ahead of the 30 June 2027 deadline. The Company has also exercised its right to earn an additional 24% interest — up to 75% total — by committing a further A$1.5 million in expenditure by 30 June 2028. Expenditure associated with the upcoming Scoping Study and subsequent technical programs will contribute toward this earn-in.