Field work and core sampling begins at Honeymoon

Published at Aug 3, 2016, in Mining

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.

BOE sampling

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.

BOE Jasons Prospect

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.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of Maven Capital Pty Ltd (AFSL No. 418504). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Facebook
Twitter
LinkedIn