Boadicea expands Paterson footprint ahead of copper-gold push

Boadicea’s latest licence application, Koongulla South, in the Paterson Province continues to drive Boadicea’s confidence in the dome-like feature and other highly valued geological features it has identified on its current Koongulla landholdings could extend 10km south to its new licence application.

The Koongulla South application increases Boadicea’s land holding by 45% to cover an area of 885sqkm in what has notably become Australia’s hottest real estate location.

Equally notable is the new Koongulla South (E45/5955) licence application is close to ground held by Rio Tinto and Antipa Minerals. The Boadicea board was buoyed with confidence to apply for this licence identifying its position as a valuable landholding that extends its quest to explore the Koongulla Dome it has identified on its current Koongulla landholdings.

The Paterson Province is fast becoming Australia’s premier target for copper gold mineralisation with two of the newest projects being developed by Rio Tino (Winu) and Newcrest (Havieron).

Boadicea Resources (ASX:BOA) notes that initial modelling of the Koongulla tenement has identified a number of highly valued features not previously recognised in the open data geophysics assessed by the company in 2020. The airborne geophysics were completed by the company in December 2020, followed by analysis and announced in the 12 March 2021 ASX announcement. The primary target identified is the exciting Koongulla Dome feature as well as four other magnetic and structural targets.

In addition, a potential northwest-southeast structural trend that is coincident with the Koongulla Dome and the other geophysical targets was identified. The new licence application is targeting potential extensions of this structural trend to the south east.

In the recent 19 July 2021 ASX announcement, the company added it was awarded the Koongulla North licence earlier this month. This now gives Boadicea two granted licences and two in application stage (Koongulla East and Koongulla South).

Paterson Province and exploration plans

The company’s exploration focus at its Koongulla tenements centred around the Telfer-lookalike dome feature, which is estimated to be at a drillable depth of between 200m and 250m. Notably, it has the same scale and orientation of the 32 million ounce of gold and 1 million tonne of copper Telfer mine.

An airborne geophysical survey covering all of Koongulla East will be completed in August 2021 and plans are underway to complete a ground-based gravity survey in the second half of 2021.

Boadicea is also finalising geological interpretations to drill the Koongulla Dome this year. The exploration program will be funded from the company’s recent $3.7 million capital raise

This article was developed in collaboration with Boadicea Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.