news

ArticlesNewswires
BOSS RESOURCES LTD
www.bossresources.com.au/
Full Boss Resources Ltd profile here
Boss Resources Ltd (ASX:BOE) is focussed on the Honeymoon uranium project 75 kilometres northwest of Broken Hill.

inShare
PdfEmail
Boss Resources Ltd progresses Honeymoon Uranium to next stage
Wednesday, August 03, 2016 by Proactive Investors
Boss Resources Ltd progresses Honeymoon Uranium to next stage
Boss Resources Ltd (ASX:BOE) will progress the Honeymoon Uranium Project located in South Australia to the next phase of study after the completion of a successful option study.
The option study focused on selecting the most appropriate technology that will optimise and reduce costs for the planned expansion and minimise start-up issues for the processing plant.
Of the four options trialled, the Hybrid Eluex Option was selected to be advanced so that the scope for a pre-feasibility study (PFS) can be defined.
The definitive results from the option study are on schedule for delivery at the end of August 2016.
Grant Davey, executive director, commented: “I am exceptionally encouraged by the interim results of our option study which has proven that resins can be used to successfully treat the Honeymoon resource.
“Through a combination of resin technology as well as utilising our current processing infrastructure we will be able to expand our operation to optimise the use of our increased resource and in so doing reduce opex for the operation while we take full advantage of the current processing facility.”

Honeymoon Uranium Project
The project contains Honeymoon, Gould's Dam and Jason's Deposit and is located 75 kilometres northwest of Broken Hill.
Honeymoon is a high-grade sandstone hosted uranium project on a granted mining lease.
The mine has been on care and maintenance since 2013 and was acquired by Boss in December 2015 for $9 million in staged payments.
The overall resource inventory at the Honeymoon project is 57.8 million pounds of uranium, which is 3.5 times larger than the resource size at acquisition.

First field work program
Boss has now commenced its maiden field work program at the Honeymoon Uranium Prospect, located in South Australia.
Following extensive analysis of the data acquired from Uranium One Australia Pty Ltd, including amalgamation of a number of separate databases, five previously unsampled sonic core holes drilled by the previous owners have been identified by Boss.
Geological logging and core sampling of this core is now underway.
The new logging and sampling of these holes will provide additional information on potential disequilibrium at the Honeymoon and East Kalkaroo Deposits.

Maiden drill program
Boss has designed a maiden drill program of circa 70 mud rotary holes to enable increased resource definition at the Jasons Prospect.
The Jasons Prospect currently has an Inferred Resource of 5.2 million pounds U3O8 (2.8 million tonnes at 840ppm eU3O8).
The prospect has an additional exploration target of 1.5 million tonnes to 6 million tonnes at 600 to 1,500ppm eU3O8 for between 7 to 18 million pounds of contained U3O8.
Heritage clearances are scheduled to begin onsite in the week commencing 1 August 2016, with drilling to commence on completion.

Analysis
Progressing this study to the next stage is an important milestone as the combination of resins and solvent extraction to be studied in the next phase could allow Boss to reduce operating costs, which has the potential to make the project viable at low uranium prices.
Furthermore, the opportunity to progress a significant production rate is being considered.
This is due to the recent maiden resource for the Jason’s Deposit which saw Honeymoon's resource grow to being 3.5 times larger than it was at acquisition.
Honeymoon is one of the highest grade un-mined uranium resources in Australia, and 1 of 4 fully permitted.
Given the time it takes to attain permits, this theoretically places them 3-5 years ahead of peers.
The project has A$170 million worth of plant and infrastructure already in place.
At the end of June, the company had circa $3 million in cash and a market cap of $44 million.