Boss Energy Limited (ASX: BOE; OTCQB: BQSSF) has obtained strong results from the first phase of its new exploration drilling strategy at the Honeymoon Uranium Project in South Australia.
The results are significant because they highlight the potential to grow the project’s inventory, forecast production and mine life. The first phase of exploration drilling, which as part of the company’s Accelerated Discovery Initiative, was conducted in November and December 2021.
The programme comprised 37 holes for 4,448m across three lightly explored prospects both close to the Honeymoon Restart Area (HRA) and up to ~10km north.
These areas include:
• Brooks Dam Extension (BDE): This target was drilled primarily to test for extensions of significant uranium mineralisation within isolated drill holes on the northern boundary of the HRA.
• Brooks Dam North (BDN): This target is close to existing mine infrastructure (~900m north of the HRA) and has only been lightly drilled historically. The drilling was designed to follow up previous encouraging drill results and to establish potential continuity of uranium mineralisation.
• Jason’s South (JSS): The northern portion of the JSS target is located ~2km south-east of the Jason’s Resource and was drilled to test for extensions of historical drill results in a lightly drilled area.
The southern portion of the JSS target was drilled testing a conceptual target derived from recent geophysical surveys completed over the area.
Managing Director, Duncan Craib, said results shows significant potential for high-grade mineralisation outside the HRA.
Furthermore, there is significant scope for continuing refinement and potential expansion of these target areas. Geological modelling of the first-phase drill results is underway and will be used, in conjunction with existing datasets, to plan further scout and extensional/infill drilling of key targets and deposits during 2022.
A significant cultural heritage clearance survey over high priority areas in the Eastern Regions tenements was also completed in late December 2021. The survey facilitates access to high priority exploration areas and to prepare for infill drilling at the Jason’s satellite deposit.
“These results demonstrate the substantial growth potential at Honeymoon, which is already poised to be Australia’s next uranium producer,” Mr Craib said.
“The Enhanced Feasibility Study was based on just half the existing JORC Resource and these results show there is significant scope to expand the inventory further.
“We will resume exploration drilling this quarter, thereafter infill drilling, with the aim of growing the forecast production rate and mine life at Honeymoon.”
For further information please visit: https://www.bossenergy.com/
