Boadicea adds Two Tanks lithium project

By Tom Parker

Boadicea Resources has bolstered its lithium portfolio by acquiring the Two Tanks project in WA, which has a host of drill-ready targets.

In this week’s Australian Resources and Investment news The exploration company purchased an 80 per cent stake in Two Tanks from Mark Selga for $300,000 in cash and Boadicea shares.

Two Tanks is located in the emerging Mt Ida pegmatite corridor, which also includes Red Dirt Metals’ Mt Ida project and St George Mining’s Mt Alexander project, each of which have experienced their respective exploration successes.

Just this week, St George announced it had discovered 121m of continuous pegmatite in drill hole MAD213 at Mt Alexander as part of 225m of total pegmatites intersected in the hole.

Boadicea will target the east-west striking pegmatite dykes that are interpreted to be the same system as St George’s Jailbreak prospect, which is currently undergoing reverse circulation (RC) drilling.

Boadicea also aims to conduct RC drilling, having submitted a program of works for 21 RC drill holes at Two Tanks. The company hopes to commence drilling in the second quarter of 2023.

As part of a strategy to acquire drill-ready projects in Western Australia’s most prospective lithium fields – including Lake Johnston, Mt Ida and Bald Hills – Boadicea’s lithium portfolio now includes the Cat Camp, Ant Hill, Bald Hill East, Hanns Gully and Two Tanks lithium projects.

And given its potential, Two Tanks has become a priority.

“The Two Tanks project provides the most advanced, drill-ready lithium prospect in the Boadicea portfolio,” Boadicea managing director Jon Reynolds said.

“Due to its potential, we have prioritised Two Tanks exploration and have already progressed planning for drilling. Our commitment to exploration is reinforced with the acquisition of Two Tanks and our commitment to continue to channel more than 80 per cent of our expenditure into in-ground exploration efforts.”