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Boss Resources Ltd.
Summary
| Project: | Honeymoon | |
|---|---|---|
| Deposit: | Jasons | |
| Location: | Australia | |
| Commodities: | Uranium | |
| Date: | 12/6/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-12-2016: Boss Resources Ltd. announces an Exploration/Drilling Update report for its Jasons deposit at the Honeymoon project. Drilling results incl. 2.5m @ 889ppm EU3O8 from 102.25. Boss Resources Limited (ASX: BOE) is pleased to announce that the first | |
| 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 first results of the mud-rotary program at the Jasons Prospect, located approximately 12km north of Boss’ Honeymoon Uranium Mine Site (Figure 1), have been processed. Drilling to date has concentrated in the northern region of the prospect and has now shifted to the southern region. Boss has received initial natural gamma eU3O8 grade data from Borehole Wireline and will report these. Sequential PFN probing using two PFN tools owned by Boss indicate significant positive disequilibrium on many intercepts (>50%). Boss is having these results reviewed by an independent expert and intends to report these results once they have been validated. Drilling in the northern portion of the Jasons prospect has encountered significant intercepts including 1.5m @ 1427ppm eU3O8 (BMR008 from 90.25m) and 0.7m @ 1478ppm eU3O8 (BMR007 from 94.25m), 1.25m @ 1488ppm eU3O8 (BMR014 from 101.75m), 1.25m @ 1436ppm eU3O8 (BMR025 from 88.25m). Figure 1 shows the peak per-hole grade x thickness composites (single best composite, not amalgamated) for the recent drilled holes, along with historical holes for reference. Results seen to date support the general endowment seen by historical drilling, and show significantly good lateral continuity of mineralisation. Table 1 summarises significant intercepts above a nominal 250ppm eU3O8 lower cut-off and greater than 0.5m in thickness and less than 1m of internal dilution. Based upon logging of the drilling muds, the mineralisation encountered to date is from within sandy units of the Middle Eyre Formation and also along sand/clay interbeds and interfaces. Interpretation of geophysical logs is in progressto ensure correct interpretation of lithological units is applied. | |
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