Boss Energy has obtained high-grade results from resource extension and infill drilling at the Gould’s Dam satellite deposit, which is part of the Honeymoon uranium project in South Australia.
In June 2021, Boss delivered an enhanced feasibility study (EFS) for the restart of the Honeymoon project.
The company said that drilling programs undertaken at Honeymoon aim to extend its mine life, to increase its production profile by upgrading known joint ore reserves committee (JORC) resources outside of the project’s resource area, and to target greenfield exploration areas close to the known resources.
One of these JORC resources was the Gould’s Dam deposit, which was said to have approximately 25 million pounds (Mlb) of contained triuranium octoxide (U3O8).
The recent drilling program undertaken at the Gould’s Dam deposit involved having all 21 holes drilled and intersecting mineralisation, which returned results from WRM0013 including 5.25 metres width at 3744 parts per million definition (ppm) U3O8 (19,658 GT).
Approximately 40 further holes are expected to be drilled as part of the Gould’s Dam program. Upon completion of the Gould’s Dam program, resource infill drilling will begin at the Jason’s satellite deposit.
Boss Energy managing director Duncan Craib said the results from the drilling program at the Gould’s Dam deposit are in line with the company’s strategy to increase inventory at Honeymoon.
“This will in turn enable us to grow the mine life and production rate, increasing cashflow and leveraging our existing infrastructure,” Craib said.
“The results from new drill holes within the resource surpass our expectations in both grade and thickness of the mineralisation… the data also enables us to improve our exploration models for the region and strongly suggests that future exploration programs have the potential to add to the existing mineral resource.”