Boadicea’s Fraser Range tenements proving their nickel-copper potential

The latest drilling results of IGO’s 809m diamond drill hole through the Orion prospect into Boadicea’s Symons Hill exploration licence is proving the existence of a mineralised intrusive structure and provides an exciting base for further exploration.

This first major diamond drilling campaign by IGO at Symons Hill, one of the nine Boadicea owned tenements has visually revealed good tenor pyrrhotite-chalcopyrite-pentlandite sulphides. The sulphides were observed within the Orion chonolith on the Symons Hill licence, consistent with IGO’s interpretation that the system is more prospective towards the north-east. This virgin drill result provides impetus to IGO’s exploration campaign to find the mineralisation extensions of the Orion prospect.

The drilling has skimmed the north-west margin of the Orion intrusion. Assays for the diamond drill hole and further interpretation will confirm the growing excitement of the prospective mineralisation in this structure.

Since the last update, IGO has completed an 809m diamond drill hole, 89 aircore holes and a total of 287 moving loop electromagnetic (MLEM) stations – with assays expected in Q3. IGO has also confirmed an ongoing program of exploration activities within the Symons Hill tenement but also plans for aircore drilling and EM surveys within a number of the other Boadicea tenements.

Boadicea Managing Director Jon Reynolds commented that the latest update from IGO buoys our confidence of the potential nickel prospectivity of Boadicea’s Symons Hill tenement. A nickel discovery on our licence would provide IGO with a close source of production feed to IGO’s adjacent Nova Operation. The preliminary results from drilling indicate many qualities necessary for sulphide accumulation within the Orion intrusion and potential exploration success. IGO has indicated Boadicea’s other Fraser Range tenements are also highly prospective for nickel with a work program targeting a number of anomalous features.

Q3 Exploration Plans

IGO believes further interpretation is needed on the Orion prospect, once all geochemical assay results have been received, and the remaining 168 MLEM stations across the tenement have been completed.

IGO is also beginning exploration work on Boadicea’s Transline tenements close to Legend Mining’s Mawson discovery in the northern section of the Fraser Range. To kick off this program of works IGO is beginning the process with heritage negotiations with native title claimants (one determined claim and one claim application) covering the JV tenements and once completed, further MLEM surveys and AC drilling is planned.

The AC drilling will target the interpreted Ballast Intrusive Complex on the Transline tenement near Legend Mining’s (ASX:LEG) Mawson discovery, as well as the Eggpie target, the Buckbeak target and the Beacon target.

Background

The drilling is part of the conditional sale agreement Boadicea Resources (ASX:BOA) made with IGO Limited (AX:IGO) in 2020. Essentially, IGO has five-year exclusive access and exploration rights to the company’s nine Fraser range tenements; Symons Hill, Giles, White Knight, Transline North, Transline South, Transline West (1), Transline West (2), South Plumridge and Giles South.

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.