Boadicea Resources Ltd (ASX: BOA) announced that it has been successful in two ballots within the Mining Warden Ballot held for the series of exploration license application adjacent to the Silver Knight Discovery in the Fraser Range of Western Australia. These applications was granted for Fraser South Project (E63/1859) location relative to the Nova Nickel-Copper Mine and the Symons Hill Project (E28/1932) within the Fraser Range.
The company is reported to be strategically positioned next to two of the significant nickel discoveries in the Fraser Range. It had further strengthened its commitment to the Fraser Range through increasing its landholding in the region, taking up exploration at Symons Hill, and actively working on license applications.
Boadicea’s flagship project Symons Hill Nickel-Copper Project is located 4km from the Nova Bollinger nickel-copper mine within the Fraser Range, Western Australia. Permitting and field preparation for the additional MLEM program over the priority untested northeastern targets is reportedly complete. The company expects the survey to commence early in the next quarter with follow-up drilling as warranted. Going forward, Boadicea confirms to advancing the Symons Hill Project systematically, collecting and analyzing quality datasets and drill testing priority targets.
On the front of the Fraser South Nickel-Copper Project, the company explained that it had applied for a 158km2 Exploration License in the south of the Fraser Range region during September 2017. And the Department of Mines, Industry Regulation and Safety has granted the license during the December 2018 quarter. This now has increased Boadicea’s landholding by over 300% to 231 square kilometers in the highly prospective Fraser Range region.
In the quarterly activity update, the company has announced the completion of a surface geochemical programme at its 100% owned Wildara Lithium and Gold Project. The announcement read that the programme targeted to test the lithium and gold potential at Wildara has been duly completed during the quarter, but results are still pending, expected to be released in the March Quarter 2019.
Furthermore, the company has given up its Lake Nerramyne Nickel-Copper Exploration License during the quarter. It was an Exploration License of 39 square kilometers located 160km northeast of Geraldton in Western Australia. Boadicea also informed that the samples obtained from the Horseshoe’s soil geochemical program testing have revealed disappointing results with no signs of significant gold assays and returning just low-level lithium and associated multielement. However, the company plans to review these results further to prepare additional geochemical programs testing other targets and tenement rationalization.
At Paraburdoo Project, prospective for platinum, palladium, gold, copper, and nickel, the company has completed a geochemical sampling programme during the Quarter targeting many identified gold targets in the south and southeast of the Project. Results are pending and expected to be reported during the next Quarter.
In today’s trading session, there has been no daily price change in BOA. The stock last traded at $0.180 with a market capitalization of $9.51 million.
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