AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
.png)
Mineral exploration company, Boadicea Resources Ltd (ASX: BOA) has announced to have successfully won in a ballot drawn by the Mining Warden in respect of an Exploration Licence Application for Giles South in the northern portion of the Fraser Range in Western Australia.
The Company had applied for the licence on 17 October 2019. Very recently on 24 February 2020, a notification was received from the Department of Mines, Industry Regulation and Safety informing that Boadicea was successful in the ballot.
Giles South EL Increases BOA Landholding to ~722 km2
The “Giles South” licence, ELA28/2952 spans across an area of ~42 km2 and is positioned in the northern portion of the Fraser Gravity Ridge. Earlier, the tenure formed part of the Arrow Minerals Plumridge Nickel Project in JV with Independence Group that was relinquished due to statutory obligations. For Boadicea Resources, the tenure is significant as it boosts the Company’s landholding in the region to a total of ~722 km2.
This tenement is located ~60 km to the north of the 4 Transline and Transline West tenements and ~30 km north of the South Plumridge tenement (referring to the figure above). All these tenements were also successfully won by Ballot in 2019.
With these 7 tenements, Boadicea Resources has a new ~434 km2 landholding in the northern portion of the Fraser Range.
Fraser Range Nickel Belt - A Fast-Developing Mineral Province
There are Nova-style high-value targets in the Fraser Range Nickel Belt, which is a fast-developing mineral province with a lot of untapped potential for new high-value nickel deposits. The range has total known resources of 18 million tonnes with less than eight years of mining.
To date, there have been two significant nickel discoveries (Nova and Silver Knight) in the Fraser Range and the Company is strategically positioned next to both of them to capitalise on the given opportunity.
During 2018-2019, BOA applied for a total of 9 additional exploration licence applications (ELAs) in the northern Fraser Range including – five (5) Fraser North Applications for 313 km2; two (2) Native Willow Applications for ~ 171 km2; and two (2) Transline West Applications for ~ 60 km2.
The Company holds 100% ownership in three (3) of its 4 projects within the highly prospective and favourable mining jurisdiction of Western Australia including –
- Symons Hill Project (nickel, copper and gold)
- Fraser South Project (nickel and copper)
- Wildara Project (lithium and gold)
- Horseshoe Project (lithium and gold)
Boadicea Resources is committed to the Fraser Range region and is acquiring additional tenure to enhance its exposure to this highly prospective region.
The Company is fully funded to complete the currently planned exploration programs with a strong cash position of ~$ 0.54 million, having undertaken extensive operating and investing activities during the half year to 31 December 2019.
Stock Up Over 13%
Boadicea Resources’ market cap stood at around $ 12.79 million with approximately 55.6 million shares outstanding. On 27 February 2020, the BOA stock closed the day’s trade at $ 0.260, zooming up 13.04% by $ 0.030 from its previous close. BOA has delivered positive returns of 9.52% in the last three months and 43.75% in the last six months.
