By Haydn Black

A decision to drill deeper during BOA Resources’ maiden drilling program at the Ricci Lee copper prospect in Western Australia’s Murchison has paid off with thick, high-grade mineralisation reported.

The headline downhole assay was 22m at 3.05% copper and 9.5 grams per tonne silver from 250m, including 9m at 6.86% copper and 22.1gpt silver.

The same hole recorded 10m at 1.81% copper and 3.9gpt silver from 133m, including 3m at 4.96% and 11.1gpt silver, within a shallow zone indicative of a new hanging wall lode, 50m west of the main lode, representing an additional target in northern Ricci Lee.

It reported good continuity with an historical hole, located 80m to the south, that returned 10m at 5.12% copper from 190m, over 5m at 3.48% copper from 203m.

The explorer said that nine of the first 10 holes at Ricci Lee had returned high-grade copper, with a further 36 holes pending.

BOA managing director Graeme Purcell said the presence of thick, high-grade bornite was the strongest evidence to date that Ricci Lee hosted a high-grade copper system, with several holes starting to outline the plunge of the high-grade zone.

Ricci Lee is considered an analogue to the nearby Thaduna deposit, which is 2km away and has resources of 4.1 million tonnes grading 2.5% for 103,000t contained copper.

Assays from aircore drilling across five additional prospects drilled at the Neds Creek project are also pending: Rooneys, Blockley, Mueller, Ward, and Limestone Bore.

BOA completed the deeper drilling at Ricci Lee in favour of some RC holes at the nearby Rooneys prospect.

BOA owns 49% of Neds Creek and is moving to 100%, with shareholders to vote on the acquisition next month through the issue of almost 156 million shares, which will see the vendor, CVA, emerge with 28.6% of BOA, and Sandfire Resources 6.2%.

The deal adds in Thaduna and the adjacent, smaller Green Dragon deposit.

The 1378sq.km Neds Creek project sits adjacent to the DeGrussa, Monty, and Horseshoe Lights copper-gold mines.

BOA shares that hit a fresh high today, rising 40% to 14.7c today, capitalising the explorer at $41 million.

The stock has risen some 460% over the past year, from just 2.3c just over 12 months ago.

The explorer has around $2.4 million in cash remaining.