BOA Resources Ltd (ASX:BOA) has outlined steady progress across its Western Australian lithium and nickel portfolio during the September quarter, as the company finalises drill planning for 2025 and continues to refine its asset base to focus on high-potential projects.
The explorer closed the quarter with $565,000 in cash and no debt, positioning it to move ahead with upcoming programs at its Bald Hill East, Cat Camp and Fraser South prospects once heritage and environmental approvals are completed.
BOA tenements in southern Western Australia.
Key highlights
- Program of Work (POW) granted for drilling at Fraser South in the Fraser Range.
- Heritage survey completed over Snowys prospect; drilling targeted for 1H 2026.
- Drill planning continuing for Bald Hill East and Cat Camp, both pending heritage clearance.
- Portfolio review under way, with relinquishment of non-core ground including Giles South.
- IGO Ltd returns operatorship of Symons Hill to BOA following evaluation.
Advancing core lithium and nickel assets
BOA’s 2025 exploration plans focus on its Bald Hill East, Cat Camp and Fraser South projects — considered the company’s flagship lithium and nickel targets.
At Bald Hill East, located just 2 kilometres from the 26.5 million-tonne Bald Hill lithium mine, BOA intends to test potential extensions to the mineralised zone. Heritage survey delays have pushed drilling to later in 2025, but the company remains committed to unlocking the area’s lithium potential.
Over at Cat Camp, within the Lake Johnston/Lake Percy region, BOA is designing a drill program to follow up areas of known pegmatites and nickel mineralisation. Shallow, thick pegmatites and surface geochemical anomalies will guide targeting once approvals are in hand.
In the Fraser Range, the company plans to drill the Snowys Prospect within its Fraser South tenement. The highly conductive anomaly was identified in electromagnetic surveys and may host Nova- or Andromeda-style nickel-copper-cobalt or zinc-copper mineralisation. The heritage survey has been completed and a POW approved by the WA Department of Mines, Petroleum and Energy, paving the way for drilling in the first half of 2026.
Portfolio optimisation and operator changes
BOA continued a strategic review of its tenement portfolio through the quarter, aimed at concentrating resources on high-value prospects and reducing holding costs. As part of that process, the Giles South tenement was not renewed after being deemed to contain no drillable targets.
The company also regained full control of Symons Hill, after IGO Ltd (ASX:IGO) returned operatorship following its assessment of the ground. With no remaining IGO-operated tenements, the two parties have terminated their agreement.
Management outlook
Management said the rationalisation process supports BOA’s “broader strategy to ensure capital is deployed to its highest-value uses” while maintaining tight control on administrative and personnel costs.
“Management recognises the challenging environment for junior explorers and will be fine-tuning the planned drill programs to ensure they are optimally located to deliver results and as efficiently as possible,” the company said.
BOA added that while heritage and environmental approvals have taken longer than expected, these steps are essential to advancing its 2025 exploration programs responsibly. The company is also assessing new project opportunities consistent with its growth strategy.
Read more: BOA Resources advances 2025 drill planning and asset optimisation strategy
With groundwork progressing across its lithium and nickel assets, BOA enters the December quarter focused on finalising approvals and positioning for a productive 2025 field season.