Boadicea says 2022 will be its biggest year yet as it acquires new lithium project

Boadicea’s application for the Hanns Gully lithium project in North Queensland saw the company enjoy a significant interest in the explorer’s stocks when announced this week.

Boadicea Managing Director Jon Reynolds spoke with Proactive Investors interview Andrew Scott to outline the company’s direction and provide insights in being the explorer of metals that are strongly aligned to clean and green energy needs.

 

The project application heralds a significant new era for Boadicea Resources.

Jon Reynolds says: “We as a company have been quietly expanding our portfolio of exploration projects over the past 12 months. We have been focussed on spreading our commodity mix through the high growth ones.

“From an almost purely nickel/cobalt base in the Fraser Range, through to the Koongulla project we have added copper and now with yesterday’s announcement we have expanded to include lithium.

“These four commodities are the key to the greener future and meeting global CO2 reduction. The growth in demand for these commodities is evident today, but as COP26 draws to a conclusion there is no doubt that the demands on these key four elements will grow substantially.

“I should add that our interest in the gold sector with our tenements in the historic gold region of Charters Towers and Drummond Basin in North Queensland, hasn’t waned as we still see gold having more upside from the current already high prices and post COVID inflationary pressures potentially kick in.

“Our goal is to be an explorer to meet the metal needs of today and the future, mixed with the time honoured exploration for gold.”

Boadicea has had its sight on a good quality lithium target for some time. The interest started with an initial focus on Western Australia and the Northern Territory. The directors then identified Queensland as potentially under-explored.

The research threw up an area near the Croydon goldfield in North Queensland. Historically this was mined for tin, with 58 known tin prospects within the application area.

“What grabbed us is this mineralisation has strong associations with lithium. It has some key similarities with greisen granite alteration one of the key forms of lithium mineralisation.

“Furthermore, and key to this application is that it gives us a very low cost entry to a lithium project that has good geology associated with it.”

To give investors a better understanding of the importance of this mineralisation, it is most notable in the Cinovec deposit in the Czech Republic which is the fourth largest hard rock lithium deposit in the world.

“The link of tin, greisen granites and lithium is the key target of our exploration work after the licence is granted,” Jon Reynolds says.

“Adding lithium to our exploration portfolio has created a commodity combination that links us directly to the metals of greatest demand for future commodities and the exponential increase predicted in the demand of battery technology.

“We are looking for other lithium projects, but the message to our investors is that we are not just acquiring and land banking, in the past year we have transitioned into a credible explorer getting on the ground and exploring our projects as well as keeping the market updated of the exploration activities of IGO at our Fraser Range projects.

“Our board expertise identifying high grade discoveries, together with the work of our geological consultants, places us in a strong position to create the next discovery.

“We will need to wait for the Hanns Gully licence to be granted before we can get on the ground, but we are looking to expand our geological team in Queensland to drive the exploration on all of our projects in that state,” Jon Reynolds says.