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Boadicea Resources Ltd (ASX: BOA), engaged in the multi-mineral exploration of nickel, copper, gold and lithium at prospects in Western Australia, has further increased its landholding in the Fraser Range region.
On 13 February 2020, the Company announced to have received a notice from the Department of Mines, Industry Regulation and Safety (DMIRS), informing that on 6 February 2020, the Southern Hills Exploration Licence Application was granted.
The licence was applied for on 4 January 2019. Subsequently, on 27 August 2019, a notification was received from the DMIRS that the Company was successful in a ballot for the licence E63/1951 for ~23 km2, which is positioned in the southern portion of the Fraser Gravity Ridge. The tenure formed part of Independence Group/Creasy Group Southern Hills Joint Venture (JV) Project that was relinquished due to statutory obligations.
The figure below gives the location map of the recently granted Exploration Licence 63/1951 relative to other tenures in the southern portion of the Fraser Range, which is highly prospective for nickel.
In the Fraser Range region, the Company had previously increased its landholding by over 300% to 231 km2, with the granting of the Fraser South tenement E63/1859 (158 km2).
The Fraser South Project of the Company is located at the southern margin of the region, which is close to the Southern Hills Project of Independence Group and the Yardilla Project of Galileo Mining Ltd (ASX:GAL). Moreover, it is located nearly 70 km southwest of the Nova Nickel Mine.
Boadicea Resources Boosting Footprints with New Licence Applications
Boadicea Resources has been strategically acquiring more ground throughout the Fraser Range region, which has led to the Company’s positioning being next to the three (3) most prominent nickel discoveries to date in the Fraser Range - Nova, Silver Knight and Mawson (referring to the figure below).
Fraser Range is an emerging world-class nickel province and the Company’s flagship project in the region is Strategic Symons Hill licence with exciting prospectivity for Nova-Bollinger style nickel-copper mineralisation.
Lately, Boadicea Resources has been successful in about five (5) Mining Warden ballots for applications in the northern portion of the Fraser Range. These tenements are significant as it boosts the Company’s landholding in the region to a total of ~554 km2.
Boadicea Resources continues to make a series of Exploration Licence Applications within prospective areas of the Fraser Range that has the potential to significantly expand the Company’s landholding.
Read: Boadicea’s White Knight Exploration Licence Granted
BOA Stock Performance: 50% in Returns in 6 Months
Boadicea Resources has a market capitalisation of around AUD 13.34 million with approximately 55.6 million shares outstanding. The BOA stock last traded at AUD 0.240 on 17 February 2020. Besides, the stock has delivered positive returns of 50% in the last six months and 2.13% year-to-date.
