Boss Energy (ASX:BOE) has received more ‘strong’ drill results that support its strategy to grow the production rates and mine life at the Honeymoon Uranium Project in South Australia.
The $1.39 billion market capitalisation company conducted an infill drilling program at the Gould’s Dam deposit that confirmed the continuity of uranium mineralisation at closer drill spacings than the existing 40m drilling coverage.
Drillhole WRM0032 recorded with 5.50m @ 1,315 parts per million (ppm) pU3O8 from 114.25m, plus 4.25m @ 445ppm pU3O8 from 108.50m.
Boss Energy Managing Director Duncan Craib says: “These latest infill drilling results demonstrate the quality of the Gould’s Dam deposit and the strong potential for it to play an important role in the growth strategy at Honeymoon.
“In light of all the drilling results we have received, we have decided to start baseline technical and economic studies on Gould’s Dam with the aim of moving it towards development“
In light of all the drilling results we have received, we have decided to start baseline technical and economic studies on Gould’s Dam with the aim of moving it towards development. We will also undertake scout drilling to potentially grow the overall Gould’s Dam resource.
This approach is consistent with our overall aim of growing Honeymoon’s production, which will in turn enable us to capitalise fully on the infrastructure we are establishing at the project, in turn driving strong financial returns.”
As part of the assessment process, the company plans to drill 2 sonic core holes and install 6 groundwater monitoring wells.
In parallel with these studies, Boss will conduct a scout drilling program at the Gould’s Dam deposit to test targets outside the known resource.
Boss adds that the current life-of-mine plan at Honeymoon is based on just 50% of the existing JORC resource.
The Honeymoon project is on track for first production in the December quarter of this year. Boss says it holds high expectations that its exploration activities will continue to deliver increased resources.
Boss Energy is an ASX-listed uranium company focused on the restart of its Honeymoon Uranium Project in South Australia. The project is fully permitted, with $170 million of established infrastructure already in place, including a well-maintained plant currently under care and maintenance.
As of 30 June 2023, the company had $88.940 million unrestricted cash and cash equivalents, according to its latest annual report.
Write to Aaliyah Rogan at Mining.com.au
Images: Boss Energy
