Boadicea Resources Ltd (ASX:BOA) managing director Jon Reynolds speaks with Proactive’s Elisha Newell to discuss the company’s evolving lithium interests.

Last week, Boadicea started due diligence on the Two Tanks asset, and yesterday it added a 5th lithium project to the fold — the Cat Camp project in Western Australia.

Jon Reynolds says the expanding portfolio reflects the EV story at Boadicea, complementing the company’s West Aussie nickel interests.

“We have been actively advancing our EV battery strategy to have a low cost, ready-to-go quality prospects in some of the most attractive lithium areas of Western Australia. This has been enhanced with the Two Tanks and Cat Camp projects that have been announced this week.

“Both projects are in attractive known pegmatite hosted lithium regions, are granted and ready to go, and have prospective pegmatites identified within the tenement that require further testing.

“We now have five tenements that are focussed on lithium mostly in Western Australia and also Queensland,” Jon Reynolds says.

The Two Tanks project is located in the Mt Ida region of Western Australia which is an evolving lithium district. The Mt Ida resource is currently being advanced by Red Dirt Metals.  Current reports indicate 12.7Mt @ 1.2% Lio2, but are looking at a number of targets along the contact with the Copperfield Granite.

The second key project that is being advanced by St George is known as Jailbreak which is demonstrating some very good early promise.  The Two Tanks project is proximal to Jailbreak and also has the Copperfield granite contact (similar to Mt Ida) within the tenement.  There are demonstrated pegmatites within the tenement.

“We have an agreement with the current owner to complete a due diligence on the work undertaken to date including some recent drilling.  We entered this agreement because we are aware that there has been some level of interest from other parties so we are happy to have gained a foothold here.

“We have a 30 day period to complete the due diligence so we will inform the market of the progress at the end of this period.”

Cat Cam acquisition

The acquisition of the Cat Camp project is not unlike Two Tanks, a highly prospective, emerging lithium district, demonstrated pegmatites and significant potential for early exploration success.

Boadicea has acquired 100% of Cat Camp.  It is located in the Lake Johnston greenstone belt which is known to host the Mt Day lithium, Lake Percy lithium and the Medcalf lithium projects.

Historic drilling has intersected thick pegmatites up to 17 metres thick and with very little assaying for lithium because the focus of the drilling was nickel.

“We will look to get on ground as soon as possible and test the potential of the lithium.  This tenement comes with the added ‘steak knives’ because the drilling completed in the 2000s identified a number of moderate grade nickel intersections. The greenstone belt is also the host of Maggie Hays and Emily Ann nickel deposits.

“Our focus will definitely be on testing the lithium potential but our initial review of the nickel is that there remains some untested potential for nickel sulphide mineralisation below the current mineralisation.”

Jon Reynolds says, the company remains focussed on advancing the company’s EV story assessing opportunities for lithium in pegmatites in highly prospective regions.  This has been enhanced by these two projects.

Boadicea will update the market on the Two Tank due diligence under way and looks forward to quickly getting on the ground at Cat Camp.