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- Boss Energy (BOE) ramps up exploration as it prepares to start a seismic reflection program as part of its strategy to grow inventory at its Honeymoon Uranium Project in South Australia
- The new style of program is designed to identify uranium-bearing sediments within the known mineralised paleochannels, which will be lower cost, lower impact, and faster than drilling
- The planned survey lines have been designed to cover two potential high-grade zones identified in a 2020 exploration drill campaign
- Boss Energy says it’s on track to bring Honeymoon into production, with seismic results due next month
- Boss Energy last traded at 17.5 cents on September 1
Boss Energy (BOE) is preparing to start a seismic reflection program as part of its strategy to grow the inventory at its Honeymoon Uranium Project in South Australia.
Boss says it will accelerate development of its exploration strategy using a staged approach that will expand the global JORC resource at Honeymoon from 16.57 million pounds to 71.67 million pounds since the acquisition of the project in December 2015.
The seismic program is designed to identify likely uranium-bearing sediments within the known mineralised paleochannels, ahead of a drilling campaign scheduled to start in the coming quarter.
Boss Energy was the first company to trial passive seismic reflection surveying in South Australia in 2019.
The company will use seismic datasets, in conjunction with all existing geoscientific information, allowing it to confidently reduce the number of drill holes required to locate additional resources within is pre-defined exploration target areas. The idea is considered low cost, low impact and faster than drilling.
The planned survey lines have been designed to cover two potential high-grade zones identified in a 2020 scout exploration drill campaign.
“We have a two-pronged strategy for creating shareholder value,” said Boss Managing Director Duncan Craib.
“This involves preparations for the start of production and cashflow, which will make Boss Australia’s next uranium producer, and to grow the uranium inventory through exploration.”
Boss Energy says it’s on track to bring Honeymoon into production, with seismic results due next month.
Boss Energy last traded at 17.5 cents on September 1.
