Boss Energy (ASX:BOE) reports ‘strong’ results following infill and resource extension drilling at its Honeymoon Uranium Project in South Australia.
The results, generated by 28 rotary mud drill holes for 3,201m, provide further support for the company’s strategy to increase the forecast production rate and mine life of the project.
Boss reports that drilling is ongoing in parallel with development work which will see the company become Australia’s next uranium producer.
Speaking on the results, Boss Energy Managing Director Duncan Craib, said: “These results show Boss’ two-pronged strategy for creating shareholder value is well on track.
These results show Boss’ two-pronged strategy for creating shareholder value is well on track
This involves the recent Final Investment Decision to restart Honeymoon’s production and generate substantial cash flows, which will make Boss Australia’s next uranium producer, and to grow Honeymoon’s mineral resource and mine life by advancing numerous highly promising near-mine and regional targets.
We will undertake detailed geological modelling and planning for resource infill/upgrade drilling this quarter, designed to increase resource confidence on the Jason’s and Gould’s satellite deposits.
Infill drilling will commence Q1 2023, with the aim of increasing the production throughput and growing the mine life at Honeymoon.”
The company also notes that a highly successful ADI campaign has opened new, highly prospective areas for exploration and have extended known uranium mineralisation away from the Honeymoon Deposit.
In addition, results gathered from the BDE prospect suggest that the prospective horizon of the deposit remains open to the northeast of the current limits of drilling and provides the opportunity for additional economic mineralisation close to the Honeymoon Restart Area.
The Honeymoon Deposit is located in South Australia and boasts a current Mineral Resource of 71.6Mlb (52.4Mt) with an average grade of 620ppm U3O8 utilising a cut off-grade of 250ppm.
The deposit is fully permitted for production, storage and export of U308 and comprises a +10-year Life of Mine at a forecast production rate of 2.45Mlb per annum.
With the recent drilling campaigns now completed, Boss Energy announces that it remains focused on resource expansion to upgrade the current Inferred and Indicated Resources of the Jason’s and Gould’s Dam.
