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Boss Resources Ltd.
Summary
| Project: | Honeymoon | |
|---|---|---|
| Deposit: | Jasons | |
| Location: | Australia | |
| Commodities: | Uranium | |
| Date: | 12/14/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-12-2016: Boss Resources Ltd. announces an Exploration/Drilling Update report for its Jasons deposit at the Honeymoon project. Drilling results incl. 2.5m @ 4005ppm EU3O8 from 105.45m. Boss Resources Limited (ASX: BOE) is pleased to announce that the PF | |
| Resources: | (Resource, Total): 40Mt @ 650ppm 3U3O8 for 57.8Mlbs U3O8 contained | |
| CP/QP: | [Overall Report]: Neil Inwood (Not stated) | |
| ABSTRACT: | Boss Resources Limited (ASX: BOE) is pleased to announce that the PFN data collected during the recent drilling program has been reviewed by an independent expert as suitable for reporting. The Jasons Prospect is located approximately 12km north of Boss’s Honeymoon Uranium Mine Site (Figure 1). Field activities (Figure 2) have finished for 2016 with 54 holes drilled in total. In 2017 the program will continue targeting north- and south- trend extensions of the southern high-grade zone as well as drilling of two sonic core holes. Prompt Fission Neutron (PFN) tools are the preferred method for assessing uranium in younger sandstone hosted uranium deposits as they can avoid the effect of radioactive disequilibrium and can provide a more accurate reading of uranium grade and mineralisation. Natural gamma derived eU3O8 grade measures uranium content indirectly as a large portion of gamma rays are emitted by 214Bi and 214Pb, which are decay products from 238U. The PFN tool utilises pulsed neutrons to directly determine the presence of 235U and results in pU3O8 grade measurements. During the current drill program at the Jason Prospect, Boss collected PFN data using 2 PFN tools acquired with the Honeymoon Project. As part of the Company’s QA/QC procedures, an independent expert was engaged to review both the calibration data and the resulting pU3O8 grade data prior to reporting. Boss is pleased to note that the PFN results have confirmed and in a number of case increased the equivalent grades for the mineralisation encountered in the drill program. See Table 1 for comparisons. Boss recognises that there is an approximately 50% average higher reading on the PFN tool when compared to the natural gamma eU3O8 grade data. The Company has designed a sonic core program to commence in January 2016 to further confirm the grade profile at the Jasons prospect. This is an important validation step prior to potentially using the PFN data in Resource estimates. | |
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