Proactive Investors has published Boadicea’s latest Fraser Range exploration updates.

In the report, Proactive Investors says Boadicea Resources Ltd (ASX:BOA) has welcomed the completion of the 809.4 metre diamond drill hole by IGO Ltd (ASX:IGO) (OTCMKTS:IPGDF) (FRA:IDZ) in the company’s Symons Hill tenement in the Fraser Range.

IGO has completed 87 out of an initial 95 planned aircore holes for the tenement, testing for potential nickel-copper-cobalt mineralisation as an extension of the Orion chonolith within the licence owned by Boadicea, with assay results expected in the third quarter of 2021.

The goal is to increase the understanding of the extent of the Orion intrusive complex and to follow up on Boadicea’s EM targets and other geophysical anomalies elsewhere within the licence area.

“Symons Hill a high priority target”

Boadicea managing director Jon Reynolds said: “Completion of this 809-metre hole is an indication that IGO intends to conduct ongoing active exploration on Boadicea’s nine Fraser Range tenements now managed by IGO.

“Exploring Symons Hill potential is IGO’s highest priority Fraser Range exploration project, strategically located adjacent to the Nova Operation.

“We look forward to releasing the exploration results as they become available from IGO.”

Orion extension exploration

The step-out hole is around 325 metres from the nearest IGO diamond drill hole that intersected the Orion chonolith.

The Orion Prospect is just 3 kilometres northeast of the Nova Operation and is a highly prospective polyphase sulphide-bearing mafic-ultramafic intrusion that exhibits textural and lithological features indicative of a productive nickel and copper-sulphide bearing chonolith (‘worm’-like) intrusion.

The known extents are within the IGO mining licence but are interpreted to extend to the northeast and into Boadicea’s Symons Hill licence.

Given the proximal location of Orion to the Nova nickel mining operations, access could be gained from an underground portal if mining were to take place.

MLEM surveys

IGO is also undertaking an extensive moving loop electromagnetic (MLEM) survey across the southwest corner of the Symons Hill Licence, covering around 20% of the licence area.

The survey is currently around 32% complete.

The survey, comprising around 500 survey stations, is designed to test the potential extent of the Orion intrusive complex within the Symons Hill licence and well beyond the area of the current diamond drill hole.

This MLEM survey will be used by IGO to identify additional drill hole targets.