Photo by: Bloomberg
PERTH (miningweekly.com) – ASX-listed Boss Resources has reported a 90% increase in the resource estimate for its Honeymoon uranium project, in South Australia.
Boss on Friday reported a maiden Joint Ore Reserves Committee-compliant mineral resource estimate of 22.1-million tonnes for the Gould’s Dam project area.
Grading at 510 parts per million uranium oxide (U3O8), the project was estimated to contain some 25-million pounds of U3O8. The announcement of a maiden resource for Gould’s Dam had resulted in the global Honeymoon resource now being estimated at 53-million pounds U3O8.
“The significant resource upgrade for the Gould’s Dam region has exceeded our initial expectations when we acquired the project,” said Boss director of geology Marat Abzalov.
“We are highly encouraged that further drilling will significantly add to the resource endowment as this is a large and highly endowed uranium system and the current estimate is constrained by low data density.”
The Honeymoon project has an exploration target of between 42-million and 100-million pounds of contained U3O8, in addition to the already defined resource.