Boss Energy to develop Gould’s Dam project as extension to Honeymoon uranium operation

Strong intercepts at the Gould’s Dam project have vindicated the strategy by Boss Energy (ASX: BOE) to increase annual production capacity and mine life at the restarted Honeymoon operation in South Australia.

The satellite deposit returned high-grade results from infill drilling at the Sunrise, Billeroo and Beulah targets, which sit within the inferred resource envelope at Gould’s Dam.

A total of 96 mud rotary holes have been drilled to date for 12,911 metres at Sunrise and Billeroo, with uranium mineralisation highlights generated using Boss’s in-house prompt fission neutron tools for grade characterisation.

High-grade pods

The average grades encountered are believed to have largely exceeded the company’s expectations, with several “pods” of high-grade uranium over significant thicknesses occurring throughout the Billeroo area.

They have also highlighted the potential for Gould’s Dam to help lift Honeymoon’s production rate from the current nameplate capacity of 2.45 million pounds a year to the export permit limit of 3.3Mlbpa and extend the mine’s useful life.

Best results were 4m at 2,925 parts per million, 4.25m at 2,230ppm and 3.25m at 1,406ppm.

Exploration will now focus on the Beulah satellite deposit where 40 holes are planned to better define the mineralisation and geological characteristics of this region.

Accelerated development

Boss has commenced work to accelerate the development of Gould’s Dam, considered an important satellite project to Honeymoon.

Drilling results will be used in wellfield planning and other advanced pre-development activities.

They will also enable the completion of detailed geological and mineralisation models to support ongoing development work and preparation for an in-situ recovery mining lease proposal for the project.

This will lead into the next phase of the mine plan, which will include pump testing of the mineralised aquifer within the Gould’s Dam indicated resource and core sample test work.

Gould’s Dam is located 80 kilometres north-west of the Honeymoon mine and contains a mineral resource of 4.4 million tonnes grading 650ppm uranium oxide for 6.3Mlb (indicated) and 17.7Mt at 480ppm for 18.7Mlb (inferred).