Boss Energy Achieves “Extensive Mineralization” Outside Existing Honeymoon Resource

A high point range of the Brooks Dam extension target was 2.5m at 1342 ppm uranium from 98.75m.

Boss Energy (ASX:BOE) has achieved “extensive mineralization” outside of existing resources at its Honeymoon uranium project in South Australia as part of the company’s strategy to increase inventories to support a life of increased mine life and production.

The latest assays come from the Accelerated Drilling Initiative program, which included 28 rotary mudholes for 3,210m completed in May. Drilling took place on three prospects close to the known resource area of ​​Honeymoon.

Notable intersections outside the Honeymoon resource area were 6m at 581 parts per million uranium from 84.5m; 2.5 m at 1,342 ppm uranium from 98.75 m; 3 m at 678 ppm uranium from 86.25 m; and 2m at 824ppm uranium from 101m.

These results were from the Brooks Dam extension target.

At Eaglehawk Dam, highlight intervals were 3 m at 431 ppm uranium from 74.25 m; 2.25 m at 526 ppm uranium from 81.25 m; and 2.75 m at 430 ppm uranium from 74.25 m.

Meanwhile, results from well field delineation drilling in the Honeymoon resource area returned 6.1 m at 2,640 ppm uranium from 103.3 m; 3.4 m at 1700 ppm from 106.7 m; and 1.2 m at 3,500 ppm uranium from 110.8 m.

The boss’ chief executive, Duncan Craib, said the results show the company’s two-pronged strategy of restarting Honeymoon was “well on track”.

“This involves the recent final investment decision to restart production at Honeymoon and generate substantial cash flow, which will make Boss Australia the next uranium producer, and develop the mineral resources and life of the Honeymoon Mine by advancing many highly prospective near-mine and regional targets.”

Build Honeymoon Resources

Mr. Craib said that in the current quarter, the company will undertake detailed geological modeling and planning for more infill drilling to increase resource confidence in the Jason and Gould satellite deposits.

Currently, Jason’s has an inferred resource of 6.2 million tonnes at 790 ppm uranium for 10.7 million pounds of contained uranium.

Gould Dam has an indicated resource of 4.4 Mt at 650 ppm uranium for 6.3 Mlb, and an inferred estimate of 17.7 Mt at 480 ppm for 18.7 Mlb.

The company expects the new target areas to underpin a study that will assess ramping up production to more than 3 million pounds of uranium equivalent per year.

It’s not part of the current feasibility studies, but Boss noted that with improving market conditions, it’s “prudent” to advance the development and mining of known satellite deposits to take advantage.

Global resources at Honeymoon amount to 52.4 Mt at 620 ppm uranium for 71.6 Mlb.

Boss’ final investment decision and development plan for the Honeymoon reboot is based on only 50% of the total global resource.


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