Boss says that, in light of the strong results just received, the company will go ahead with technical and economic studies on developing Gould’s Dam as an additional production base.
The Gould’s Dam deposit is located about 80km northwest of the Honeymoon Mine and has an existing indicated mineral resource of 4.4 million tonnes at 650ppm uranium oxide and an inferred resource of 17.7Mt at 480ppm.
The latest in-fill drill results include holes with more than one interval of mineralisation.
These include 5.5 metres at 1,315 parts per million uranium oxide plus 4.25m at 445ppm; 5.25m at 1,014ppm plus 4.5m at 407ppm; and 3m at 1,510ppm plus 2.5m at 1,190ppm.
Boss Energy says it will now undertake a scout drilling program at Gould’s Dam to test targets outside the known resource.
This work will be in parallel with the baseline studies for mining at Gould’s Dam as well as drilling of two sonic holes and installing six groundwater monitoring wells.
To date, Boss’ exploration strategy has increased the JORC resource at Honeymoon by 433% to 71.67 million pounds of uranium oxide.
Managing director Duncan Craib said these latest in-fill 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.
The baseline studies and other drilling will be aimed at moving the deposit toward development.
“This approach is consistent with our overall aim of growing Honeymoon’s production, which in turn enables us to capitalise fully on the infrastructure we are installing at the project,” Mr Craib added.
The current life of mine plan at Honeymoon is based on only 50% of the existing JORC resource.
Once the current work at Gould’s Dam is completed, a resource infill drilling program will begin at another satellite deposit, Jason’s.
