Boss Energy (ASX:BOE) has described its latest uranium drilling assay results as showing “strong potential” for Gould’s Dam.
The project is located some 80km from the company’s well-known Honeymoon project, one of the few active uranium mines in Australia. The company pointed towards an existing 25Mlbs resource in low-to-mid confidence categories.
Given that mineralisation was shown at Gould’s, Boss Energy suspects it could use the play to boost overall Honeymoon production rates.
Boss has an export permit for 3.3Mlbs of uranium per year; currently, it has a nameplate capacity of 2.45Mlbs.
The headline results flagged on Wednesday were for 4m @ 2,925ppm and 2.25m @ 2,230ppm. Both reads came from depths over 115m.
Geotechs now turn towards the Beluah satellite deposit for a further 40 holes on top of the existing 12,000m drill run.
Boss Energy boasts a market cap of $1.6B and its YoY performance is up 28.8%.
The stock has been a clear beneficiary of the COVID energy crisis over the last 5 years, as well as a growing nuclear thematic driven by uranium prices staying above pre-Fukushima levels.
BOE last traded at $3.98/sh.