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Boss Resources Ltd.
Summary
| Project: | Honeymoon | |
|---|---|---|
| Deposit: | Honeymoon | |
| Location: | Australia | |
| Commodities: | Uranium | |
| Date: | 8/2/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 2-8-2018: Boss Resources Ltd. announces an Exploration/Drilling Update report for its Honeymoon deposit at the Honeymoon project. Drilling results incl. 6.25m @ 9943ppm pU3O8. Boss Resources Limited (ASX: BOE) is pleased to announce that the first stage o | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: M. Abzalov (Internal) | |
| ABSTRACT: | Boss Resources Limited (ASX: BOE) is pleased to announce that the first stage of the infill drill program being carried out on its Honeymoon Mining Licence, situated at its Honeymoon Uranium Mine in South Australia, has returned exceptional results. This drilling campaign is the first key component of the previously announced Honeymoon Restart Strategy and has been successful in confirming large high-grade continuous mineralisation zones close to the existing Honeymoon processing plant. The infill program is comprised of 200 mud rotary drill holes of which 50 are now complete. Boss Resources Managing Director, Mr Duncan Craib, said “Today’s positive results continue our strong momentum at Honeymoon. The infill drilling program is designed to deliver the measured and indicated resource componentsrequired to confidently determine production rates and these initial resultssurpass our expectations in both grade and thickness of the mineralisation. Hole BIF0044’s quality drill result is quite exceptional at 9.5m width @ 7,407ppm pU3O8 (70,367 GT), ranking it as one of the best intersections drilled at Honeymoon. “To put it into perspective, our cut-off grade is 250ppm and whilst we could mine at lower grades, there are numerous cost and operational benefits to leaching higher grade material from continuous thicknesses. Primarily, less ore has to be leached to extract the same amount of contained uranium, which typically results in lower operating costs and increased operating margins.” | |
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