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Boss Resources Ltd.
Summary
| Project: | Honeymoon | |
|---|---|---|
| Deposit: | Re-Start Area | |
| Location: | Australia | |
| Commodities: | Uranium | |
| Date: | 2/25/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 25-2-2019: Boss Resources Ltd. announces a Resource Estimation report for its Re-Start Area deposit at the Honeymoon project. 149% Increase in Measured & Indicated Mineral Resources over Honeymoon Re-start Area. Boss Resources Limited (ASX: BOE) is please | |
| Resources: | (Resource, Total): 24Mt @ 660 ppm U3O8 at Honeymoon Re-Start Area | |
| CP/QP: | [Resources]: Ingvar Kirchner (AMC Consultants Pty Ltd.) | |
| ABSTRACT: | Boss Resources Limited (ASX: BOE) is pleased to announce an updated Mineral Resource estimate (JORC 2012) over its targeted Re-start Area which contains Mining Licence ML6109 (ML6109), the designated feed source of uranium for a successful Re-start and future expansion of production at the Company’s 100%-owned Honeymoon Uranium Project in South Australia. The updated Mineral Resource for the Re-Start Area includes the Brooks Dam, Honeymoon and East Kalkaroo deposits totals 24Mt at 660ppm U308 for 36 Mlbs U308, using a cut-off grade of 250 ppm. This represents an overall 30% increase in metal mass from the previously-reported Mineral Resource estimate1 . ML6109 sits on top of the Re-Start Area and the updated mineral resource highlights a 149% increase in Measured and Indicated status, totalling 27Mlbs at 690ppm U308. The resulting effect on the Honeymoon Project’s combined Mineral Resource is an increase of 13% to 52.4Mt with an average grade of 620 ppm U3O8 for 71.6Mlbs at a 250ppm cut-off. Boss Resources Managing Director Duncan Craib said, “Today’s announcement provides further validation that Honeymoon is one of the few uranium projects worldwide positioned to participate in the early stages of a new bull market. “A 30% increase in Mineral Resource, covering a fully permitted mining licence ML6109 which is supported by an export license, will help fast-track the re-start of uranium production and facilitate offtake arrangements. “We believe Honeymoon’s global uranium endowment will increase through future exploration activity on our surrounding 100%-owned tenements.” | |
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