Boadicea expands portfolio by adding 5th lithium project

Boadicea Resources Ltd (ASX:BOA) has signed an agreement with Duketon Mining Ltd (ASX:DKM) to acquire exploration licence E62/2050, known as Cat Camp, in the lithium regions of Lake Johnston and Lake Percy in Western Australia.

Proactive Investors reports Cat Camp will be the 5th lithium project in Boadicea’s portfolio, which includes:

• Ant Hill lithium – nickel, Western Australia;
• Bald Hill East lithium, Western Australia;
• Hanns Gully lithium – tin – tantalum, Queensland; and
• Two Tanks lithium, Western Australia.

Promisingly, previous exploration has identified anomalous lithium-bearing pegmatites and significant shallow nickel intersections at Cat Camp.

Boadicea is acquiring the licence from Duketon for a total consideration of AUD$40,000 in newly issued Boadicea shares.

Cat Camp project location

Boadicea managing director Jon Reynolds said: “Completion of the agreement with Duketon on the acquisition of Cat Camp adds another major string to our portfolio of lithium and nickel projects.

“Our primary focus will be determining the extent and lithium fertility of the previously identified pegmatites.

“The Lake Johnston and Lake Percy regions already demonstrates the so-far-identified lithium fertility of the regional pegmatites and with this tenement acquisition Boadicea is adding to its excellent lithium potential.”

Lithium potential

Reverse Circulation (RC) and air core drilling completed in 2001 and 2006 intersected several pegmatite units at Cat Camp which have also been mapped at the surface by previous explorers.

Pegmatite thicknesses up to 17 metres downhole have been intersected by the RC drilling.

The pegmatites identified within the tenement represent a clear exploration target for lithium-caesium-tantalum (LCT) pegmatites in a region that has demonstrated lithium prospectivity.

Nickel potential

Australasian Resources (ASX:ARH) completed an aircore drilling program in 2007 at the Cat Camp Project and had success encountering a nickeliferous laterite profile that overlies a thick ultramafic unit.

There is some geological evidence to suggest this ultramafic unit correlates with the Honman Formation, the host of the Maggie Hays and Emily Ann nickel ore bodies.

The regional scale air core drilling identified significant shallow nickel intersections including 32 metres at 0.51% nickel from 38 metres.