Boadicea granted Clarke Reward gold licence in Queensland 

Proactive Investors reports Boadicea Resources (ASX:BOA) Ltd has been granted the Clarke Reward licence (EPM 27834) in North Queensland, entitling the company to undertake exploration work for five years from July 12, 2021.

BOA is undertaking a reprocessing of existing open file geophysical data and now that the licence has been granted, and an exploration agreement completed with the Jangga People, BOA will progress geophysical on-ground and airborne surveys to assess basement geology and refine potential drill targets.

The objective of this program of work is to endeavour to refine targets for drill testing in the fourth quarter of 2021.

BOA also expects that the South-West Ravenswood licence will be granted soon, following completion of the Native Title objection period on July 19.

Ground activity to commence

Managing director Jon Reynolds said: “As part of our ongoing interest in the Charters Towers and Drummond Basin region of North Queensland, we were very pleased to identify the Clarke Reward target and are very keen to refine then drill test in Q4 what may be a very rewarding intrusive hosted gold resource.

“With this granting, ground activity can now commence.”

Exploration Agreement

An Exploration Agreement has been completed between BOA and the Bulganunna Aboriginal Corporation on behalf of the Jangga People who hold Native Title rights over most of the Clarke Reward exploration area and a key area of interest within the South-West Ravenswood project area.

Boadicea looks forward to working with the Jangga People in an open and respectful way that reflects the historic ownership of the lands.

Clarke Reward

The Clarke Reward licence covers 96 square kilometres of a highly anomalous magnetic feature in a structural position at the margin of the Drummond Basin and the Anakie Metamorphic complex and is within close proximity to the Mt Coolon epithermal gold mine.

Clarke Reward is based on an isolated magnetic anomaly identified in publicly available geophysical data.

The magnetic anomaly is approximately 7.7 x 4.2 kilometres in size and is interpreted to be a mafic intrusive within the Anakie Metamorphic Province or metamorphosed Drummond Basin sediments.

Past production in the Drummond Basin is more than 4.5 million ounces of gold and has a total known gold endowment of more than 7.5 million ounces.

 

The Drummond Basin is an established gold mining region that has proven fertile for the discovery of epithermal and intrusive relation gold systems.

Mineralisation in the Drummond Basin is typified by low sulphidation epithermal style precious metal deposits and mining operations and is home to Pajingo (3 million ounces), Wirralie (1.1 million ounces), Yandan (600,000 ounces) and Koala (330,000 ounces) deposits.