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.
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Boss Resources Ltd reaffirms high-grade uranium at Honeymoon
Tuesday, September 13, 2016 by Proactive Investors
Boss Resources Ltd reaffirms high-grade uranium at Honeymoon
Boss Resources Ltd (ASX:BOE) has positively confirmed the uranium grades from four sonic holes measured by previous owners at the Honeymoon Uranium Project in South Australia.
The high grade intercepts assayed includes 1.4 metres at 2360 ppm triuranium octoxide (U3O8) and 1.1 metres at 1290 ppm U3O8.
One of the holes was drilled within the main Honeymoon resource region, and three were drilled within the East Kalkaroo resource region.
The Honeymoon project is a high-grade sandstone hosted uranium project located 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 current overall resource inventory at the Honeymoon project is 57.8 million pounds of U3O8, which is 3.5 times larger than the resource size at acquisition.
Moreover, the fully permitted project has $170 million worth of plant and infrastructure already in place.
Boss is currently undertaking an option study to optimise and reduce costs for the planned start-up and expansion of the processing plant.
The company had circa $3 million in cash at the end of the June quarter.
Annual uranium demand is expected to increase to 280 million pounds by 2020 from 177 million pounds in 2011, representing a 58% increase.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.
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