BOA grows copper ambitions

BOA Resources rose after detailing plans to acquire Thaduna and Green Dragon, a major step up for its WA copper portfolio.

Stockhead reports, the deal gives BOA two advanced JORC 2012-compliant copper deposits in the Neds Creek project, part of WA’s Murchison Copper Belt.

Thaduna and Green Dragon together host 5.3Mt at 2.3% Cu, or 121,000t of contained copper.

The acquisition expands BOA’s Murchison footprint to about 1378km², including the Thaduna and Green Dragon mining leases, seven exploration licences, five prospecting licences, and 11 licence applications.

Sandfire Resources is set to become a major shareholder with a stake of about 6.2%.

Seasoned geologist and CVA principal Adrian Griffin is joining BOA’s board.

BOA says the deal adds a platform for resource expansion and exploration, with several prospects already returning copper hits.

First up is drilling at Ricci Lee, a Thaduna analogue 2km southwest, where mineralisation runs over 500m of strike and 200m depth and remains open.

The timetable calls for a shareholder meeting in August and deal completion in September, pending final conditions.