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- Boadicea Resources (BOA) identifies new nickel targets at the Transline tenements in Western Australia, but postpones drilling
- The company recorded “anomalous” intercepts from drilling completed in quarter three of 2022 with a top result of 864 ppm nickel from Ballast Eye
- Further work is planned at Ballast Eye but has been postponed for this quarter due to an increase bushfire risk in the Fraser Range region
- Despite the pause in the interim, BOA says “extensive active exploration activity” would continue this year after a meeting with project partner IGO
- Shares in BOA dropped 4.5 per cent to trade at 10.5 cents at market close
Boadicea Resources (BOA) has identified new nickel targets at the Transline tenements in Western Australia, but has postponed further drilling.
The company recorded “anomalous” intercepts from drilling completed in quarter three of 2022, across the Ballast North-East, Ballast Eye, Ballast Central and Buckbeak targets within Transline West two.
While nickel grades at Ballast Eye peaked at 864 parts per million nickel in a bottom of hole sample, further investigation has been put on hold due to an increased bushfire risk in the central Fraser Range region.
Despite the decision to pause work in the interim, Managing Director Jon Reynolds told investors “extensive active exploration activity” would continue this year after a meeting with project partner IGO (IGO).
“To round off the 2022 year, we met with IGO management and technical staff during the quarter to discuss planned future activities.
“This meeting has provided confidence that IGO remains positive about the potential of the Boadicea tenements,” Mr Reynolds said.
In regard to the most recent assay results, Mr Reynolds said the northern tenements had delivered “positive results” of which, the Ballast Eye appeared to be “the most attractive” with similarities to IGO’s Nova nickel deposit.
Seventy aircore drill holes for 4268 metres were completed in the third quarter of the 2022 calendar year.
At Ballast Central, two holes recorded anomalous intercepts of cobalt, but no associated anomalous nickel or copper values, BOA said this suggests testing of the target is complete with no further work required.
Additionally, four aircore holes were completed at Buckbeak but also did not return anomalous grades and as such no further work is planned here either.
Once the bushfire risk is downgraded, BOA has planned to complete 36 aircore drill holes at the Eggpie target in the Transline South tenement, and 15 drill holes at Beacon targets.
A moving loop electromagnetic survey interpretation of a target within South Plumridge is also planned as well as a review of both the Giles South and Giles tenements to determin potential prospectivity.
Shares in BOA dropped 4.5 per cent to trade at 10.5 cents at market close.
