Field work and core sampling begins at Honeymoon
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Maiden field work has commenced at Boss Resources’ (ASX:BOE) Honeymoon Uranium Project in South Australia.
Located 80km north-west from Broken Hill, the Honeymoon Project consists of one granted mining lease, five granted exploration licenses, eight retention leases and two miscellaneous purposes licenses.
An Option Study being undertaken in conjunction with GR Engineering Services and the Australian Nuclear Science and Technology Organisation (ANSTO) at the Project was recently completed with results showing the way forward to reduce costs and optimise expansion.
The Honeymoon Project has an estimated uranium resource of 57.8Mlb.
Core Sampling
Data acquired from previous lease holders Uranium One has been analysed by BOE, including amalgamation of a number of separate databases and five previously unsampled sonic core drill holes.
Two of the holes were drilled within the main Honeymoon Resource and the other three drilled within the East Kalkaroo deposit.
Geological logging and core sampling of this core is now underway to provide additional information on potential disequilibrium at the two sites.
Previous sampling of sonic core from the Gould’s Dam deposit indicated a strong positive disequilibrium when comparing PFN and gamma eU3O8 grade data to chemical grade date.
Maiden drilling program
Currently Jason’s Prospect has an inferred mineral resource of 5.2Mlb U3O8 (2.8Mt at 840ppm eU3O8) and with an additional exploration target of 1.5 to 6Mt at 600 to 1,500ppm eU3O8 for between 7 to 18Mlb of contained eU3O8.
This Project is still in its early stages however and nothing is yet finalised, so if considering BOE as an investment option, seek professional financial advice for further information.
Approximately 70 mud rotary holes will be used in the maiden drill program to both confirm historical data and increase the resource definition at Jason’s.
The exploration target is conceptual in nature with insufficient exploration to estimate the mineral resource. Further exploration is no certainty that there will be an estimation of a mineral resource.
Heritage clearances are scheduled to being onsite this week, with drilling to commence immediately after.
BOE is presenting at the Diggers & Dealers conference this week, the full presentation is available here.
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