Boadicea Resources Ltd’s (ASX:BOA) Jon Reynolds speaks to Proactive’s Andrew Scott following the news IGO Newsearch Pty Ltd, a wholly-owned subsidiary of IGO Ltd (ASX:IGO), has begun exploration across the Fraser Range tenements that form part of a conditional sale agreement between the companies.

IGO has identified three high-priority targets adjacent to the Symons Hill licence which forms the basis of an exploration program and is northeast of IGO’s Nova mine.

Boadicea Managing Director Jon Reynolds said in the interview with Proactive Investors presenter Andrew Scott, “It is a very exciting program planned for the current quarter and first quarter next year.”

IGO is focussed on the Symons Hill tenement, which is located proximal and along strike to the Nova mining lease.

“Obviously any metal located this close to the current operations will have significant value,” Jon Reynolds said.

IGO has identified three targets within the Nova licence but located just on the border of Symons Hill. These are Orion, Hercules and Elara. The primary target appears to be Orion.

“IGO announcing their Program of Works so soon shows IGO is serious about Symons Hill being its next major discovery. The speed at which they are moving is indicative of their confidence of the three prospects extending within Boadicea licence.

“It’s a really positive step, that confirms the BOA strategy to potentially deliver $50M to BOA shareholders.

“We mustn’t forget, that this exploration has zero cost to Boadicea and allows us to focus our exploration dollars in the Paterson Province and on finding new assets for growth.

“As defined by the above exploration program, we will anticipate a steady news flow from the activities performed by IGO on Boadicea tenements,” Jon Reynolds says.

The Boadicea Board reports IGO has been very supportive and is very descriptive about its planned works which demonstrates how serious they are about exploration on Boadicea tenements.

For the remainder of this quarter IGO is focussing on preparation work with: Heritage surveys; Program of works submitted for approval to the department and track clearing.

Quarter 1, 2021 – Geophysics (MLEM and LT Squid) – Squid detects for magnetic variations but more sensitive than MLEM and therefore targets deeper; also drilling as a follow up to the MLEM in Q2 2021

“The real highlight is the potential for a drill hole that is stepping out from the existing Orion drilling. This really highlights the potential for Orion extension within the Boadicea tenement,” Jon Reynolds says.