- Boss Energy (BOE) will soon begin drilling again at the Honeymoon Uranium Project after identifying new targets through geophysical programs
- The passive and seismic reflection exploration surveys identified five new targets in areas near Billeroo Palaeovalley and the Eaglehawk Dam Prospect
- The follow-up drilling at the South Australian-based project will begin this month, before a second phase of drilling is carried out next year, pending heritage clearance
- Company shares are down 0.86 per cent at 28.8 cents each
Boss Energy (BOE) will soon begin drilling again at the Honeymoon Uranium Project after identifying new targets through geophysical programs.
Located in South Australia, BOE recently completed passive and seismic reflection exploration surveys at the project.
The two surveys complemented each other by mapping out likely host sediments for uranium mineralisation within the known palaeochannel systems.
A total of five new targets were defined by the programs, including in areas near the Billeroo Palaeovalley and the Eaglehawk Dam Prospect.
Boss Managing Director Duncan Craib explained the targets would be followed up with a drill program beginning this month.
“The outstanding results from the seismic reflection surveys prove that our exploration strategy is working well, allowing us to undertake a more targeted drilling campaign,” Mr Craib said.
“Drilling is scheduled to commence in November to simultaneously target the most prospective of our exploration areas, using the combination of passive and seismic reflection data along with the 3D suite of geological models created by our team.”
Additionally, a second phase of drilling would be carried out in early 2022, pending heritage clearances.
All the surveys carried out form part of the Accelerated Discovery Initiative (ADI) program, with the upcoming drilling to complete the requirements for the $275,000 exploration grant.
Boss Energy shares were down 0.86 per cent at 28.8 cents each at 12:08 pm AEDT.