Boadicea Resources Ltd (ASX:BOA)’s exploration partner IGO Limited has identified battery and precious metals potential at the Eggpie prospect of the Transline South tenement (E28/2866) in the Fraser Range of Western Australia.
IGO is operating the tenement as part of a conditional sale agreement that gives it rights to five years of exclusive access and exploration over BOA’s six Fraser Range tenements.
As part of the agreement, IGO pays all costs associated with these tenements and reports quarterly to BOA.
Recently, a round of aircore drilling on the tenement revealed anomalous levels of nickel, copper, cobalt and gold from a number of drilled holes and IGO says the geochemical analysis indicates medium to high similarities to rocks hosting the magmatic Nova-Bollinger style deposit.
Highly encouraging results
“The results from the drilling campaign at Eggpie are highly encouraging. The Nova-Bollinger Deposit is one of IGO’s key nickel assets,” Boadicea Resources managing director Cath Norman said.
“We are fortunate to have IGO bringing their knowledge, experience and exploration success growing the Nova resource, to exploration at Eggpie and the other tenements and prospects under our agreement.
“We look forward to taking the next steps at Eggpie with the aim of defining a nickel-copper-cobalt deposit.
“Furthermore, the planned exploration, led by IGO, at the Symons Hill tenement adjacent to the Nova-Bollinger mine is providing significant interest in its potential for a discovery.
“The IGO agreement has allowed exploration of Boadicea tenements to be quickly advanced over the last four years. We are hopeful of a successful 2024.”
The two companies are planning to conduct a ground electromagnetic (EM) survey over the Eggpie prospect to identify potential magmatic nickel-copper sulphide accumulations.