Boadicea Resources Ltd (ASX:BOA)’s exploration partner IGO Ltd has identified a new nickel target during aircore drilling on the company's tenements in the northern section of the Fraser Range area in Western Australia.
Earn-in partner IGO, which has operations in the Fraser Range, conducted an extensive exploration program last quarter within the Boadicea tenements which included further aircore drilling, geophysical EM survey and analysis of assays from previous drilling.
During the program, the company detected anomalous intersections of nickel, copper and cobalt at the Transline tenements.
What's more, work at South Plumridge has detected a new conceptual target that will form the focus of further investigative exploration in 2023.
Positive results
Boadicea managing director Jon Reynolds said: “The increased activity in the northern tenements has delivered positive results with the return of anomalous nickel, copper and cobalt.
“This provides the first evidence for a Nova-style nickel exploration target in the northern Boadicea tenements.
“The Ballast Eye target appears to be the most attractive of these with high geochemical ranking, anomalous assays and a geophysical ‘eye’ shape providing early similarities with the Nova nickel deposit.
“To round off the 2022 year, we met with IGO management and technical staff during the quarter to discuss planned future activities.
“This meeting has provided confidence that IGO remains positive about the potential of the Boadicea tenements and extensive active exploration activity will continue during 2023.”
IGO-Boadicea JV tenements.
Drill program
The company completed 70 aircore holes across 4,268 metres, with three additional aircore holes completed in the current quarter.
Several anomalous intercepts have been detected in aircore drilling including
- 864ppm nickel in a BOH sample from 22AFAC10443;
- 430ppm copper from 34-45 metres in 22AFAC10400; and
- 464ppm cobalt from 10-14 metres in 22AFAC10406.
At Symons Hill, planning continues for a deep diamond drill hole within to test the Hercules intrusion.
Drilling is planned to kick off mid-this year subject to the completion of land clearing and operational logistics.
Forward plan
Drilling will be temporarily postponed this quarter due to increased bushfire risk. Some planned drilling for the quarter is outstanding and will be carried over to be completed during the course of the year
The next steps for this quarter are:
- Aircore drilling of 36 holes at Eggpie target (Transline South tenement) and 15 holes at Beacon (South Plumridge tenement) targets;
- MLEM survey interpretation of AD_ASOCT4 target within South Plumridge; and
- Data review of Giles South (E28/2952) and Giles (E39/2148) to determine potential prospectivity.