Boss Energy (ASX: BOE) has obtained high-grade drill results on the Gould’s Dam satellite uranium deposit in South Australia - with the potential to support the company's new Honeymoon mine.
Gould’s Dam is located ~80km northwest of the Honeymoon Mine and currently contains a JORC-compliant resource of 25Mlbs of indicated and inferred U308. These results support the company’s strategy to increase the nameplate production rate and mine life at Honeymoon.
Work has now commenced on accelerating the development of Gould’s Dam, which is an important satellite project to the nearby Honeymoon Mine.
The current delineation programme provides important data which will be used in wellfield planning and other advanced pre-development activity.
It will also enable Boss to complete detailed geological and mineralisation models which will support the ongoing development work and preparation for an ISR Mining Lease proposal for Gould’s Dam.
This will lead into the next phase of mine plan development, including pump testing of the mineralised aquifer within the Gould’s Dam Indicated resource (utilising monitoring wells installed during the 2023 drilling campaign) and core sample test work. This will provide important baseline hydrogeological and metallurgical characteristics of the mineralised aquifers.
Resource Infill Drilling
Three key areas within the current Inferred resource envelope at Gould’s Dam were targeted as part of this infill drilling program – namely the Sunrise, Billeroo and Beulah targets.
Holes were logged with the Boss Energy in-house PFN tools for uranium grade characterisation, and Borehole Magnetic Resonance (BMR) tools for lithological determination.
The global Honeymoon Mineral Resource stands at 71.6Mlbs (52.4Mt) with an average grade of 620ppm U308, using a cut-off grade of 250ppm.
The current Honeymoon restart feasibility studies utilise only a portion of Honeymoon’s JORC resource, excluding 36Mlbs of JORC resource outside the HRA, which could expand the mine life, and Boss’ defined exploration target could potentially extend the mine life beyond the initial 11 years and increase the production profile.
Honeymoon’s Federal EPIP Act approvals allow export of more than 3Mlbs/annum U308 equivalent.
In addition to the global Mineral Resource, the Honeymoon Uranium Project also has an Exploration Target range of 28Mt to 133Mt of mineralisation at a grade of 340ppm to 1,080ppm U308 for a contained 58Mlbs to 190Mlbs U308 (26,300 to 86,160 tonnes of contained U308), using a cut-off of 250ppm.
