Eastern Metals Limited announced that Phase 1 of a two phase resource expansion drilling program at the Home of Bullion (HoB) mine has been completed. This program was designed to test for extensions of the previously defined mineralised envelope at HoB which has yet to be closed off along strike or down dip. This re-designed program consisted of three holes for a total of 1,474 metres.

Eastern Metals' asset in the Northern Territory is the Home of Bullion mine at Barrow Creek on EL23186, which was acquired from Kidman Resources (now owned by Wesfarmers) and hosts a total Indicated and Inferred Mineral Resource of 2.5 million tonnes averaging 1.8% copper, 2.0% zinc, 36g/t silver, 1.2% lead and 0.14g/t gold. The HoB mine is classified as an Advanced Exploration Project under the Valmin Code. There are two principal lodes at HoB.

These are the Main Lode (which is divided into Upper and Lower sections), and the South Lode. The upper section of the Main Lode may be closed along strike and down dip. The lower section of the Main Lode remains open in all directions.

The South Lode may be closed to the south southeast near the surface but is open along strike to the south and at depth. A small offset lode seen in two holes near the surface to the north northwest remains open. HDD049AA targeted the top section of the known Main Lode Lower resource envelope for extensions of the mineralisation in the ESE direction.

This hole intersected the top of the main lode lower at approximately 487-490m with small (10-15cm) bands of massive sulphides including pyrite, galena and sphalerite. HDD049B was designed to intersect the main lode lower down dip from HDD049AA in order to extend the resource above historical drill holes HDD045 and HDD045W1. HDD049B intersected a significant interval of mineralisation at 537.4m downhole over an interval of approximately 13.6m, including an intense copper rich interval of mineralisation over a width of approximately 3.9m within this zone.

Neither of the intercepts in these holes pierce the current resource estimate wireframes but extend it. The strong to intense mineralisation in HDD049B appears to be cut off by a large quartz vein with possible faulting having truncated mineralisation continuity downhole. Future drill holes will be designed to test for intersections of intense mineralisation laterally and vertically to HDD049B where the mineralised area may have been displaced due to possible faulting.

HDD053 was designed to extend the South Lode further to the SSE of the existing known resource. It was a significant step out and intersected no mineralisation. Core trays containing mineralised intervals have been dispatched to MIME Field Services in Parkes for processing with core to be sent to ALS Orange for assaying.