Boss Energy (ASX:BOE) has received drilling results from Gould’s Dam, which the company says supports its intention to boost production at the Honeymoon uranium mine in South Australia.
Gould’s Dam currently hosts a resource measuring 25 million pounds of triuranium octoxide across the indicated and inferred categories.
A total of 96 mud rotary holes for 12,911m have been drilled to date at the deposit, focusing on two of three key prospects — Sunrise and Billeroo. The results include 4m @ 2,925 parts per million (ppm) triuranium octoxide, and 4.25m @ 2,230ppm triuranium octoxide.
Exploration will now focus on the Beulah satellite deposit where 40 holes are planned to better define mineralisation and geological characteristics of the region.
Boss, which has a market capitalisation of $1.62 billion, says the results highlight the potential for Gould’s Dam to lift Honeymoon’s production rate from the current nameplate capacity of 2.45 million pounds a year to the export permit limit of 3.3 million pounds a year.
The company has already begun accelerating the development of Gould’s Dam, with the current delineation program providing data to be used in wellfield planning and other pre-development activities.
Boss says the program will also enable it to complete detailed geological and mineralisation models, which will support ongoing development work and preparation for an in-situ recovery mining lease proposal for the deposit.
From there, activities are expected to include pump testing of the mineralised aquifer within the Gould’s Dam resource, as well as core sample testwork.
Boss notes that this will provide baseline hydrogeological and metallurgical characteristics of the mineralised aquifers.
The global Honeymoon resource stands at 71.6 million pounds with an average grade of 620ppm triuranium octoxide, based on a cut-off grade of 250ppm.
Write to Aaliyah Rogan at Mining.com.au
Images: Boss Energy
