Boss Resources Ltd (ASX:BOE) has now commenced its maiden field work program at the Honeymoon Uranium Prospect, located in South Australia.
Honeymoon is 1 of 4 fully permitted uranium operations in Australia, and hosts $170 million in plant and infrastructure.
Honeymoon is a high-grade sandstone hosted uranium project 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 overall resource inventory at the Honeymoon project is 57.8 million pounds of uranium, which is 3.5 times larger than the resource size at acquisition.
The uranium mineralisation represents a classic basal channel type sandstone-hosted uranium roll-front model.
Core Sampling
Following extensive analysis of the data acquired from Uranium One Australia Pty Ltd, including amalgamation of a number of separate databases, five previously unsampled sonic core holes drilled by the previous owners have been identified by Boss.
Geological logging and core sampling of this core is now underway.
Two of the holes were drilled within the main Honeymoon Resource and three were drilled within the East Kalkaroo Resource region.
These holes were drilled by Boart Longyear in 2011 and had a typical core diameter of 155mm.
The new logging and sampling of these holes will provide additional information on potential disequilibrium at the Honeymoon and East Kalkaroo Deposits.
Maiden drill program
Boss has designed a maiden drill program of circa 70 mud rotary holes to enable increased resource definition at the Jasons Prospect.
The Jasons Prospect currently has an Inferred Resource of 5.2 million pounds U3O8 (2.8 million tonnes at 840ppm eU3O8).
The prospect has an additional exploration target of 1.5 million tonnes to 6 million tonnes at 600 to 1,500ppm eU3O8 for between 7 to 18 million pounds of contained U3O8.
Heritage clearances are scheduled to begin onsite in the week commencing 1 August 2016, with drilling to commence on completion.
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