Boss Energy has announced the start of an infill drilling program targeting the Gould’s Dam and Jason’s satellite deposits at Honeymoon, which is expected to upgrade the resources at both deposits while improving the geological and hydrogeological understanding of the uranium mineralisation.
Boss Managing Director, Duncan Craib, said these satellite deposits have the potential to expand Honeymoon’s production profile and extend the current mine life.
“Increases in the forecast production rate were not considered as part of the current Honeymoon restart feasibility studies,” Mr Craib said.
“But given the strong outlook for the uranium market, we want to unlock the substantial value which would result from increasing the inventory and production rate.”
Honeymoon is on track for first production in the December quarter of 2023. The mine is increasing the production profile to 2.45Mlb/annum over a more than ten-year mine life but this is based on just a portion of the existing resources.
Satellite deposits
Boss recently completed detailed geological modelling and planning for resource upgrade drilling on the Gould’s Dam and Jason’s satellite deposits.
These studies highlighted the opportunity to grow and upgrade the satellite Joint Ore Reserve Committee (JORC) resources. It is expected that these new target areas 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.
All drill holes will be logged with a Borehole Magnetic Resonance tool, Fission Neutron tools, and other lithological tools such as neutron porosity and formation density.
