- Boadicea Resources (BOA) enters into an agreement to purchase an exploration licence, to be named Bald Hill East, located near Kalgoorlie in WA
- The company has agreed to buy the tenement for $300,000 plus a 1.5 per cent net smelter return royalty
- Bald Hill East is about two kilometres east of the Bald Hill lithium mining and processing operation which includes a complete processing plant
- Boadicea plans to immediately explore the area with a sampling program, which is scheduled in the first quarter of 2022
- Boadicea has ended the day up 15.8 per cent and is trading at 22 cents per share at market close
Boadicea Resources (BOA) has entered into an agreement to purchase an exploration licence, to be named Bald Hill East, located near Kalgoorlie in WA.
The company has agreed to buy the tenement for $300,000 plus a 1.5 per cent net smelter return royalty.
Notably, the tenement covers a total area of 17.6 square kilometres.
Bald Hill East is located around 65 kilometres southeast of Kambalda in the Eastern Goldfields region and importantly is about two kilometres east of the Bald Hill lithium mining and processing operation.
The Bald Hill Lithium mine is currently in care and maintenance due to ongoing litigation and the mining operation will restart when ownership issues are resolved.
The Bald Hill region is a known source of commercial scale lithium- tantalum mineralisation hosted within lithium-caesium-tantalum pegmatites.
Boadicea plans to immediately explore the area with a sampling program, which is scheduled in the first quarter of 2022.
Managing Director Jon Reynolds said the purchase will launch Boadicea into a serious explorer for lithium.
“Bald Hill East has anomalism for lithium pegmatites and is located close to an existing lithium mine and processing facility, which enhances the commercialisation of any Boadicea lithium discovery,” he said.
“We are making significant strides to be an explorer that meets the demands of the metals that will deliver a cleaner and greener future to feed the EV market which requires significant injection of new lithium discoveries to come into production.”
Boadicea ended the day up 15.8 per cent and is trading at 22 cents per share at market close.