Scout drilling at Boss Energy’s Honeymoon uranium project has identified two satellite prospects not far from the Honeymoon production plant, enabling the company to push forward with its strategy to grow the inventory, mine life and production rate of the project.
The limited scout drilling program, comprising 19 rotary mud holes for 2,520m, has been completed at two new prospects close to the Gould’s Dam deposit – the Billeroo prospect located approximately 1.2km to the north and the Sunrise prospect approximately 1km to the east.
Both prospects have had very limited historical drilling, the bulk of which was completed in the 1970s and early 1980s.
The purpose of this program was to follow up on some historic results across these prospects and identify new areas of potentially significant uranium mineralisation within the Inferred resource envelope for future upgrade drilling.
It is expected that these two new target areas, in addition to the known satellite deposits of Gould’s Dam and Jasons, will form the basis of a study to assess and define an increase in the forecast production rate to more than 3Mlb/annum U308 equivalent or an extension of mine life.
Boss Managing Director, Duncan Craib, said that there is abundant exploration upside at Honeymoon, as shown by these results and the recent success at Gould’s Dam.
“We intend to drive exploration hard with the aim of unlocking this value. This will enable us to continue growing the inventory which will in turn underpin increases in the mine life and production rates,” Mr Craib said.
“Organic growth of this nature will generate strong financial returns because we can leverage the infrastructure we are now establishing at Honeymoon.
“With first production on track for the coming quarter, a strong pipeline of growth and an extremely bullish outlook for the uranium market, Boss is ideally positioned to continue delivering superior returns for shareholders.”
