The honeymoon isn’t over yet for Boss Resources

Published at Jun 21, 2016, in Mining

Boss Resources (ASX:BOE) has had the strongest indication yet that it’s onto a winner with its plan to use an ion exchange process at its Honeymoon uranium project in South Australia.

The company had been working with the Australian Nuclear Science and Technology Organisation to test whether resins from the project would be suitable for an ion exchange process – which BOE thinks will lead to enough efficiencies at the project to get the mothballed Honeymoon up and running again.

It tested two resins from the project, and results from testing came back positive.

“We are encouraged by the positive results received from the initial stages of the resin technology test work program at Honeymoon,” BOE executive director Grant Davey said.

“We are confident that additional test work will result in further reductions to project OPEX, as we look to identify the optimal pathway for the re-start of the Honeymoon mine.”

It confirmed that preliminary engineering designs should be submitted to the regulator in June before it starts additional resource drilling on its eastern tenements in the third quarter.

Earlier this month it booked its third substantial resource upgrade for the project since BOE acquired the project at the end of 2015.

The upgrade was based on 165 drillholes and upgraded the resource to 40.1 million tonnes of uranium ore at 654 parts per million uranium oxide, for 57.8 million pounds of contained uranium oxide.

This is three and a half times larger than the resource at acquisition.

More on Honeymoon

Honeymoon is being planned as an in-situ leach uranium mine whereby acid is injected below ground in order to soak up and collect uranium mineralisation.

The solution is brought back to surface and process using an ion-exchange process, and then processed.

If all goes to plan, BOE envisages an expanded uranium mining operation to commence at Honeymoon in mid-2019, targeting 70-100 million pounds of production.

Location of BOE’s Honeymoon Project in South Australia

Work undertaken in 2013 by Honeymoon’s previous owners (Uranium One Inc) included a preliminary test work program on ion exchange (resin) technology, and BOE is following up on this.

t post-Fukushima prices the project was thought unviable, but BOE is betting on efficiency gains and a reverse in the price of uranium to help drive project economics – although the latter is not guaranteed.

According to previous estimates, BOE could expect to initiate an 880,00lbs per annum operation although this quantity was deemed inefficient and non-viable with depressed uranium prices.

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