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22 July 2021

Peak’s interest in Boadicea piqued by excellent ground and strong exploration potential

Peak Asset Management’s Executive Director Niv Dagan met with Boadicea Managing Director Jon Reynolds to discuss the company’s current and future endeavours. Peak Asset Management has released the interview for investors to understand the company’s direction and exploration program.

Peak Asset Management is a big supporter of Boadicea Resources. Peak recently led the Boadicea capital raise which raised $3.7 million for the company.

A total of 46.5% was placed by Peak Asset Management and the capital raise was significantly oversubscribed. Peak Asset Management fully underwrote the capital raise.


Jon Reynolds says in the interview:

Boadicea Resources went to IPO in 2012. Today, nine years on, Boadicea has grown to have a number of exciting opportunities in its portfolio in three prime exploration regions.

Sirius Resources led one of the largest nickel discoveries of recent history, discovering the Nova nickel mine. Boadicea’s Symons Hill is located only 3km from the Nova nickel mine.

IGO later purchased Nova in 2015/16 for an undisclosed amount of money.

Boadicea has been building its exploration opportunities in the Fraser Range holding 11 licences of which nine licences were purchased by IGO to conduct exploration.

The prime target is Symons Hill which is 3km from Nova. It has a hungry mill and we are the adjacent licence.

Late last year Boadicea completed a deal with IGO for nine (9) exploration tenements in the Fraser Range.

Boadicea retains ownership and IGO explores for five years. IGO uses its expertise and budget. They are currently spending $35 million in the Fraser Range and spending a lot of money on Boadicea’s highly prospective ground.

The Orion exploration is of highest priority to IGO. It is a chonolith intrusion. It is a similar feature to the Nova nickel mine.

IGO knows there is mineralisation on their side of the licence and now they have drilled into our extension on our Symons Hill licence. The drilled core is awaiting assays.

It has been determined that mineralisation improves as it moves into Boadicea’s licence. If IGO finds a JORC resource, IGO has to pay Boadicea $50m. On top of that Boadicea gets a 0.75% ongoing royalty. It is a win win deal. Orion is their prime target.

They have drilled an 800m hole to prove up Orion.

It is unusual for a neighbour to say they want to drill and pay for it.


Paterson Province

Boadicea has been granted two licences and has two in application in the Paterson Province. We identified Koongulla mid last year. It is the hottest ground in Australia and we fortunately picked up some ground on the inside and expanded this land holding in the Paterson Province to now hold more than 880sqkm.

The Paterson Province is well-known for the 32 million ounce world class Telfer gold mine.

More recently the area has produced Havieron, Calibre, Magnum and Winu.

Rio tinto is spending $100 million in exploration in the area.

We have some excellent ground and within that we have found a dome feature. This is a geological structural shape which Telfer and most deposits in the Paterson Province are based on dome shapes.


Where will Boadicea be in 6-12 months. What will excite investors?

Boadicea is focused on three key elements of exploration:

IGO’s Orion exploration which is well under way to delivering $50 million and a royalty stream.

Boadicea has a package of its own tenements in the Fraser Range that we will explore and have the potential to grow nickel potential.

Koongulla has the potential to be a major deposit and Boadicea is on its way to testing the ground next year.

 

 

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