Boadicea Resources Ltd embarks on an active exploration strategy through properties located in world-class sites

Boadicea Resources Ltd (ASX:BOA) has an active exploration quarter underway with field crews in Western Australia and Queensland undertaking a variety of work.

The exploration program is good news for its loyal investors, as Boadicea reaches a new milestone – now counting 1,000 shareholders on its register.

This work heralds the start of a strong focus on underground exploration by the Boadicea team in 2022 to advance the company’s plans and consolidates the business development work undertaken by the new management installed in 2020.

Focus on exploration in the ground

Over the past two years, the Boadicea team has focused on expanding its project base through the acquisition of quality buildings and securing a strong portfolio and a sustainably attractive product line in the electric vehicle space.

Work is currently underway to explore the potential and increase resources and expenditures for exploration work in the ground.

Boadicea’s property portfolio is in the world-class locations of Fraser Range, Paterson Province, Charters Towers, Drummond Basin and Eastern Goldfields. Concessions are promising for nickel, lithium, copper, cobalt and gold.

To date, exploration on the Boadicea licenses has been carried out through the IGO Ltd-Boadicea agreement entered into in September 2020, covering nine of Boadicea’s 11 concessions.

Nickel – Southern Hill and Fraser South

In the Fraser Range, Boadicea is midway through a ground EM survey of its Southern Hill and Fraser South claims which are not part of the IGO exploration agreement.

Boadicea Managing Director Jon Reynolds said: “We are halfway through the ground EM survey aimed at identifying potential accumulations of nickel sulphide drill targets.

“Although there is inaccessible land, we were able to modify the survey to complete our work,” he said.

This work should be completed shortly and the analysis of the data acquired and the results will probably be available during the current quarter.

Lithium – Bald Hill East

An auger sampling program was recently completed and assay results are expected in the second half of this month. The claim is approximately 2 kilometers east of the Bald Hill mine and lithium processing site.

Management of Boadicea is encouraged by early indicators showing lithium pegmatites may extend to Bald Hill East.

Initial exploration activity is to test the theory of extending the known Bald Hill Lithium deposit and, if successful, a more extensive exploration program will be initiated at Bald Hill East.

Reynolds said, “By 2030, lithium demand is expected to exceed two million metric tons of lithium carbonate equivalent. This is more than double the demand forecast for 2025.

“It is the increase in demand for batteries for electric vehicles that will be a strong driver of lithium consumption over the next decade and the success of exploring new sources of lithium is paramount.

“We are well positioned with our Bald Hill East building to be in a prime position for a discovery and due to its location near an existing factory, a greater chance of commercialization.”

Gold-copper – Koongulla

Preparation is underway for a heritage survey which should begin at the end of June/beginning of July.

The field team identifies any existing leads that may need to be used for the exploration program.

“The exploration team is working through a number of logistical challenges associated with the heritage investigation, as we need to find leads that give us good access and are therefore part of the access agreement with the owners. of Native Title,” Reynolds said.

“The Province of Paterson is difficult terrain, but we are looking at how other explorers have successfully conquered the province and learning from that to ensure that our exploration program gives us the best opportunity to make a discovery ourselves- same.

“As a pioneer in this area of ​​Paterson Province, the challenge of access is more than offset by the opportunities presented by Koongulla Dome.

“Camp facilities, access to water, movement of elders to the site, and funding for drilling needs, while maintaining the highest possible degree of security, are all currently being planned and coordinated,” said the MD.

This month’s news of Antipa Resources updating its Minyari dome project further encourages Boadicea’s management. Antipa has updated its Minyari‐WACA (100% Antipa) mineral resources by 250%:

Project resources now stand at 1.8 million ounces of gold, 64,300 tonnes of copper, 584,000 ounces of silver and 11,100 tonnes of cobalt at 1.6 g/t gold and 0 .19% copper.

This includes an indicated resource of 1.0 million ounces of gold, 41,100 tonnes of copper, 387,000 ounces of silver and 7,700 tonnes of cobalt at 1.4 g/t gold and 0. 19% copper. That’s 2.3 million ounces of gold equivalent from 33.9 million tonnes at 2.14 g/t gold equivalent.

The cost of discovery for Minyari was extremely low at $7.20 per gold equivalent resource ounce. Minyari’s resources start from the surface, providing an open pit mine as well as underground development potential.

Antipa signaled that increasing the scale of resources offers great potential for a self-sustaining development opportunity.

Gold – South West Ravenswood

With the granting of the license for South West Ravenswood, discussions began with landowners for access to the site.

Boadicea’s geological consultant, Map to Mine, has completed a comprehensive historical assessment of the license and identified some previously unidentified opportunities that are advanced for lithium and gold potential.

Over the Anzac long weekend, Map to Mine geologists carried out initial ground reconnaissance and rock sampling in the area.

MD Jon Reynolds and non-executive director Graeme Purcell will travel to North Queensland this month to visit the field and take a closer look at the opportunities this early exploration work offers.

Gold – Mt Carmel and Clarke Reward

Boadicea has retreated and is awaiting the results of the interpretation of additional airborne geophysical data which was purchased at very low cost.

In addition, Map to Mine, Boadicea’s hired geological consultant, is working on historical data to plan the next stage of exploration.

Lithium Tin – Hanns Gully

The application has been submitted for a prospecting license for the Hanns Gully Lithium-Tin project. The granting of the license is expected soon.

Reynolds said this would allow BOA quick access to the ground while waiting for the license to be granted.

“We have started compiling the data and reviewing the available information.

“Lithium has been identified in the off-lease area, but provides some encouragement that the geological concept is valid.

“We hope to be able to carry out a first reconnaissance on the ground this month.

“We know we have embarked on an ambitious works programme, but with careful planning and good teams on the ground, we are confident that as a junior explorer we will make headlines,” added Reynolds. .