BOA RESOURCES LTD (ASX: BOA)

Up 76% (10.5c – 18.5c)

In this week’s Bulls N’ Bears, rounding out the Runners is a serious new copper player in WA, BOA Resources, This article was published in Sydney Morning Herald, The Age, Brisbane Times, Business News and The West Australian, after BOA’s Neds Creek copper story got launched into the stratosphere following results at its Ricci Lee prospect.

The best hit returned a chunky 22m at 3.05 per cent copper and 9.5g/t silver from 250m, including a cracking 9m at 6.86 per cent copper and 22.1g/t silver.

And this wasn’t just a random high-grade hit in the middle of nowhere.

The result sits within the same mineralised system as historical drilling 80m to the south, which included 10m at 5.12 per cent copper from 218m, strengthening the case that Ricci Lee could be far more substantial than a collection of isolated narrow copper zones.

BOA has now hit significant copper mineralisation in nine of its first ten RC holes at Ricci Lee, with assays from another 36 holes still to come. The latest hole also picked up a separate, shallower hanging-wall lode, returning 10m at 1.81 per cent copper from 133m, including 3m at 4.96 per cent copper, giving the geos a much better picture of what sits beneath the surface.

Ricci Lee is hosted in the Thaduna Formation, 2km south-west of the Thaduna copper deposit and extends for roughly 500m. However, the mineralised neighbourhood certainly doesn’t just stop there.

Neds Creek sits in WA’s Murchison Copper Belt within the broader Capricorn Orogen, home to Sandfire’s DeGrussa and Monty copper deposits, while the Earaheedy base-metal province lies 85km to the east. BOA has now stitched together a hefty 1378-square-kilometre footprint across the project, giving it plenty of ground to chase if Ricci Lee keeps delivering.

The company’s maiden Neds Creek campaign is also much bigger than simply proving up one hole, with drilling targeting Ricci Lee and a suite of other copper prospects across the project. The plan is to use the growing dataset to work towards a maiden resource at Ricci Lee while testing extensions along strike and at depth.

BOA’s share price has now rocketed more than 677 per cent from its 1.8-cent lows last August, so the market clearly thinks something rather interesting is happening.

With high-grade copper turning up repeatedly, a substantial landholding in a proven copper district and plenty more assays still in the pipeline, Ricci Lee is rapidly moving from an exploration target to a high-grade copper discovery in red metal royal territory.