Boss Energy targets growth opportunities with successful drilling at Honeymoon satellite deposits

Boss Energy (ASX: BOE) is moving quickly to demonstrate its growth potential with the completion of a successful infill drilling program at the Gould’s Dam and Jason’s satellite deposits within its Honeymoon uranium project in South Australia.

Building on its mining successes at Honeymoon and Alta Mesa in Texas, Boss has rapidly ramped up efforts to identify the next development opportunity with a new exploration program at the two satellite deposits.

The drilling and down-hole geophysical data program has returned strong results at locations within easy reach of Honeymoon, offering promising future development opportunities.

Mineralisation model

The drilling results and geophysical data will now be incorporated into a mineralisation model that will inform a resource update for the two deposits, which currently host combined resources of 36.7 million pounds of the uranium compound triuranium octoxide (U₃O₈).

The company is seeking government approval to mine the Gould’s Dam and Jason’s deposits, which have the potential to increase both the annual production rate and mine life at Honeymoon.

The results will support a scoping study and preparations for in-situ recovery (ISR) mining lease proposals.

Growth opportunities

Managing director Duncan Craib noted that the satellite deposits are integral to Boss’ strategy of boosting production and extending mine life at its 100%-owned Honeymoon project.

“These satellite deposits have the potential to drive growth while enabling us to leverage existing infrastructure and capitalise further on the opportunities created by increasing global demand for uranium from tier-one locations,” Mr Craib said.

Since June 2023, Boss has undertaken a 39,000-metre drilling campaign at Gould’s Dam and Jason’s.

The campaign has generated high-quality, modern down-hole geophysical data, facilitating the development of an updated geological and mineralisation model and, ultimately, a mineral resource update.

Consultants contracted

Boss has engaged AMC Consultants to produce a block model and mineral resource update for these key satellite deposits, helping the company identify the most economically viable areas.

The company has utilised bore-hole magnetic resonance technology throughout the resource update drilling program.

This method provides porosity and permeability data, offering an accurate representation of lithology—critical for determining whether uranium mineralisation is suitable for ISR mining.

Boss is targeting the release of updated models and resource data in the first half of calendar year 2025.

This resource update will inform ongoing development work at the satellite deposits, including proposed scoping studies and mining lease applications, as well as guide further infill drilling.