Boadicea embarks on active exploration strategy across WA and Qld tenements

Boadicea has an active exploration quarter under way with teams on the ground in both Western Australia and Queensland undertaking various scopes of work.

The exploration program comes as good news to its loyal investors, as Boadicea hits another milestone – it now boasts 1000 shareholders on its register.

The work heralds the start of a strong emphasis on in-ground exploration by the Boadicea team in 2022 to advance their projects and is a consolidation of the business development work undertaken by the new management installed in 2020.

During the past two years, the Boadicea team has been focusing on expansion of its project base through acquiring quality tenements and having secured an exceptional portfolio of licences and a commodity mix that is sustainably attractive in the EV space. Work is under way to explore their potential and grow resources and expenditure for in-ground exploration work.

Boadicea’s portfolio of tenements are located in the world class-locations of Fraser Range, Paterson Province, Charters Towers, Drummond Basin and Eastern Goldfields. The tenements are prospective for nickel, lithium, copper, cobalt and gold.

To date exploration on Boadicea licences has been delivered by the IGO-Boadicea deal struck in September 2020, working across nine of Boadicea’s 11 Fraser Range tenements.

Southern Hill and Fraser South: Nickel
In the Fraser Range, Boadicea is half-way through a ground EM survey of its Southern Hill and Fraser South tenements which do not form part of the IGO exploration deal.

Boadicea Managing Director Jon Reynolds says, “We’re halfway through the ground EM survey aiming to identify potential accumulations of nickel sulphide drill targets.

“While there is some inaccessible terrain we have been able to modify the survey to complete our work,” Jon Reynolds says.

This work is expected to be completed shortly and analysis of the acquired data and results are likely be available in Quarter 2.

Bald Hill East: Lithium
An auger sampling program was completed recently, and assay results are expected to be released in the second half of this month. The tenement is located approximately 2km east of the Bald Hill Mine and lithium processing site.

Boadicea management is encouraged by early indicators which show lithium pegmatites could extend into Bald Hill East.

The initial exploration activity is to test the theory of extension of the known Bald Hill Lithium deposit and if successful a more extensive exploration program will be committed to Bald Hill East.

Jon Reynolds says, “By 2030, demand for lithium is expected to exceed two million metric tons of lithium carbonate equivalent. This is more than double the demand forecast for 2025.”

“It is the increase in battery demand for electric vehicles which will be a strong driver of lithium consumption in the next decade and exploration success for new sources of lithium is paramount.”

“We are in a good position with our Bald Hill East tenement to be in a prime position for a discovery and due to its proximal location to an existing plant, a higher chance of commercialisation,” Jon Reynolds said.

Koongulla: Gold-Copper
Works are under way to begin the heritage survey which is planned to start end of June/early July.

The on-ground team is currently identifying all the existing tracks that may need to be used for the exploration program.

Jon Reynolds says, “The exploration team is working through a number of logistical challenges associated with the heritage survey as we need to find tracks that give us good access and therefore form part of the access agreement with the Native Title owners.

“The Paterson Province is harsh terrain, but we are looking at how other successful explorers have conquered the Paterson Province and taking lessons from them to ensure our exploration program gives us the best opportunity to make a discovery ourselves. As a first mover in this region of the Paterson Province the access challenge is more than offset by the opportunities that the Koongulla Dome represents.”

“Camp facilities, water access, getting elders to site and resourcing the drilling requirements, whilst maintaining a highest degree of possible safety, are all currently being planned and coordinated,” Jon Reynolds says.

News this month by Antipa Resources updating its Minyari Dome Project give Boadicea management further encouragement.

Antipa Resources has updated its Minyari‐WACA mineral resource (100% Antipa) by 250%:

The project resource now stands at:
o 1.8 million ounces of gold, 64,300 tonnes of copper, 584,000 ounces of silver and 11,100 tonnes of cobalt at 1.6 g/t gold and 0.19% copper
o Indicated Resource 1.0 million ounces of gold, 41,100 tonnes of copper, 387,000 ounces of silver and 7,700 tonnes of cobalt at 1.4 g/t gold and 0.19% copper
o 2.3 million gold equivalent ounces from 33.9 million tonnes at 2.14 g/t gold equivalent

The discovery cost for Minyari has been an extremely low $7.20 per gold equivalent resource ounce.

The Minyari resources start from surface providing open pit together with underground development potential.

Antipa has reported the uplift in resource scale delivers a strong potential for a standalone development opportunity.

South West Ravenswood: Gold
With the granting of the licence for South West Ravenswood discussions have begun with landowners for access to the site.

Boadicea’s geological consultants, Map to Mine have completed a full historical assessment of the licence and identified a couple of previously unidentified opportunities which are being advanced for lithium and gold potential.

Over the ANZAC long weekend, Map to Mine geologists conducted first ground reconnaissance and rock sampling of the area.

Jon Reynolds and Non-Executive Director Graeme Purcell will travel to North Queensland this month to get on ground and review more carefully the opportunities this early exploration work is delivering.

Mt Carmel and Clarke Reward: Gold
Boadicea has been reprocessing and awaiting the results of the interpretation of additional airborne geophysical data which was purchased at a very low cost.

Furthermore, Map to Mine, Boadicea’s engaged geology consultants are working through historical data to plan the next stage of exploration.

Hanns Gully: Lithium / Tin
The application has been submitted for the Prospecting Licence for the Hanns Gully lithium-tin project. Granting of the prospecting licence is expected shortly.

Jon Reynolds says this will allow us early access to the ground, while we await the granting of the licence.

“We have begun data compilation and reviewing the information available.

“Lithium has been identified in the region off the lease, but provides some encouragement that the geological concept is valid.

“We expect to be able to do an initial field reconnaissance this month.

“We know we have embarked on an ambitious program of works, but with careful planning and good teams on ground, we’re confident as a junior explorer we will be making headlines,” Jon Reynolds says.

 

Article written by Yolanda Torrisi – journalist and mining stocks investor