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Boss Energy has announced “highly successful” results from its drilling program at the Gould’s Dam satellite deposit, as part of its efforts to extend the mine life and production rates at the Honeymoon uranium mine in South Australia. The drilling program has intercepted uranium mineralization in 21 holes so far.

Notable assay results include 5.25m at 3,744 parts per million uranium oxide and 3.25m at 1,150ppm in the same hole, as well as 2.75m at 3,693ppm with an additional 1.25m at 2,277ppm in another hole. A third hole returned 4.25m at 1,094ppm.

The Gould’s Dam deposit, located approximately 80km northwest of the Honeymoon Mine, has an existing indicated mineral resource of 4.4 million tonnes at 650ppm uranium oxide and an inferred resource of 17.7 million tonnes at 480ppm. Boss Energy confirms an overall upgrade of the historical drill results through twin-hole validation drilling at Gould’s Dam.

Boss Energy believes that the significant resource at Gould’s Dam, combined with the successful drilling results, has the potential to increase both the production rate and mine life at Honeymoon. The company’s exploration strategy has resulted in a 433% increase in the JORC resource at Honeymoon to 71.67 million pounds of uranium oxide.

Managing director Duncan Craib stated that the company’s strategy of focusing on production and cash flow while simultaneously increasing the uranium inventory has been successful. The recent drill holes have exceeded expectations in terms of grade and thickness of mineralization.

Ongoing drilling at Gould’s Dam includes twin and infill drilling within the indicated resource area. Boss Energy also plans to conduct investigative drilling in promising areas around the current indicated resource. Once the work at Gould’s Dam is completed, a resource infill drilling program will begin at another satellite deposit called Jason’s.

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