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Boss Resources Ltd.
Summary
| Project: | Honeymoon | |
|---|---|---|
| Deposit: | East Kalkaroo | |
| Location: | Australia | |
| Commodities: | Uranium | |
| Date: | 11/5/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 5-11-2018: Boss Resources Ltd. announces an Exploration/Drilling Update report for its East Kalkaroo deposit at the Honeymoon project. Drilling results incl. 3.50m @ 829ppm pU3O8 from 119.0m. Boss Resources Limited (ASX: BOE) is pleased to announce the co | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: M. Abzalov (Internal) | |
| ABSTRACT: | Boss Resources Limited (ASX: BOE) is pleased to announce the completion of the recent drilling campaign undertaken at the Honeymoon Uranium Project, concentrated on the East Kalkaroo area, located approximately 3 – 10 kilometres from the Honeymoon Uranium Mine (Figure 1). The work program comprised: - Step-out drilling: targeting the easternmost edge of the Honeymoon Mining Lease, with the objective of identifying extensions to the current Mineral Resource; and - Regional exploration drilling: focusing on the poorly-explored central part of Exploration Licence 5621, with the objective of identifying new areas of mineralisation for future exploration. Drilling has identified two new zones of mineralisation in what appear to be channel limbs of northeast-southwest and broadly east-west orientation, respectively. Regional-scale, airborne electromagnetic (EM) data (Figure 2) suggest that these limbs are extensions of the same Tertiary-aged Yarramba Palaeochannel that hosts the Honeymoon Uranium Deposit, making these new targets highly prospective and worthy of further exploration. The drillholes were originally designed as follow-up to historical gamma results (ppm eU3O8) at holes ZV-1100, ZZ1100 and 580-070, intersecting 2.25m @ 2,192 ppm eU3O8, from 116.8m; 5.50m @ 340ppm eU3O8 from 119.0m; and 3.50m @ 1,863ppm eU3O8, from 123.0m, respectively. The results from the 2018 program highlight one mineralised trend (Target Area 1, Figure 2) that appears to be 190m across at its widest point and is situated at the easternmost edge of the Honeymoon Mining Licence (ML). The location of this mineralisation suggests an extension of the known Mineral Resource in an orientation different to the currently recognised east-west trend at Honeymoon. Figure 2 shows the peak per-hole grade x thickness composites overlain on the 90-95m depth slice image from the regional-scale EM data. The composite grade-thickness (GT) values are based on the best significant intercepts returned from the 2018 drilling campaign. Historical drilling has been plotted for reference, along with the interpreted channel structure as pink dashed lines. The yellow ellipses highlight the two new areas of mineralisation as identified by the recent drilling. Despite the variable density of historic drilling in and around the more regional areas of EL 5621, mineralisation was intersected sporadically and definitive extensions to the historic resource could not be distinguished. However, the grades returned from the recent drilling support the mineral endowment highlighted by the historical holes and suggest good continuity of mineralisation along strike into areas of extension to the east of the Honeymoon Mining Lease. | |
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