Boss Energy has been awarded four tenements – considered highly prospective for uranium and copper mineralisation – from the South Australian Government, under a mineral sharing rights arrangement with copper developer, Coda Minerals.
The tenements were recently applied for as part of an Exploration Release Area (ERA) process covering Cambrian-Ordovician Delamerian Orogen basement rocks and the overlying Cenozoic Murray Basin sediments in eastern South Australia.
The tenements form the Kinloch Project, which is located approximately 130km south of the Honeymoon Mine in eastern South Australia.
The geological setting of this new project area is broadly analogous to the Lake Eyre Basin to the north, where Boss is actively exploring and exploiting palaeovalley-hosted uranium deposits including Honeymoon, Jason’s, Gould’s Dam, Billeroo and Sunrise.
The Kinloch Project area represents a highly promising new exploration frontier for Boss, which can utilise its expertise in this deposit style and leverage the infrastructure of the Honeymoon Uranium Mine.
Following the award from the South Australian Government, Boss and Coda will now progress the mineral rights sharing arrangements under which Boss will be operator for uranium exploration and entitled to 100 per cent of the uranium rights, and Coda will be operator for base metals exploration and be entitled to 100 per cent of the base metal rights. It is expected that the parties will enter into a mineral rights agreement on customary terms.
Boss and Coda will now commence extensive stakeholder engagement in preparation for on ground exploration activities, along with the preparation of an exploration program for environment protection and rehabilitation (PEPR) and compilation and interpretation of all available geological and geophysical data.
This will feed into the planning for significant regional geophysical surveys designed to define basement architecture and identify potential palaeochannel sequences within the Renmark Group.
Boss’s Managing Director, Duncan Craib, thanked the South Australian Government for entrusting the exploration acreage to Boss and Coda.
“Boss has a thorough understanding of the geology style and its uranium potential due to its striking similarities with the geology at Honeymoon and surrounding areas.
“Boss will apply its wealth of exploration knowledge and in-depth understanding of uranium to the Kinloch Project area with the aim of establishing a new uranium province.”
