IGO has enhanced the potential of the Fraser Range nickel-copper joint venture with Boadicea Resources in Western Australia after uncovering a new target in the September quarter.
The companies identified the target at the South Plumridge exploration licence, which has been named Emperor North.
Boadicea is expecting an electromagnetic survey to take place at Emperor North in October with 45 electromagnetic stations planned.
In August, Boadicea announced that IGO had returned results of 2.63 metres at 1222 parts per million nickel and 480 parts per million copper from 462.33 metres as part of its 809-metre diamond drill hole.
The two companies have since worked on consolidated historic data with the recent results and electromagnetic survey.
Boadicea stated this had improved confidence in Symons Hill’s potential with deeper drilling expected in 2022.
The company teamed up with IGO to explore its Fraser Range tenements over a five-year period in 2020.
Boadicea will receive $50 million if a resource is declared by IGO within the five years.
IGO is exploring 11 of Boadicea’s Fraser Range tenements as the junior explorer also looks to develop its other tenements, including Koongulla copper-gold project in the Paterson Province of Western Australia and its exploration licences in Queensland.
Boadicea completed an application for the Mt Carmel gold exploration tenement in the Drummond Basin, Queensland in August.
This has grown its tenement holding in the Drummond Basin region to 214 square kilometres.
“The addition of the Mt Carmel application to our tenement position in the prospective Drummond Basin provides an excellent opportunity to apply our expertise across two tenements hosting similar features,” Reynolds said in August.
“We look forward to advancing the Mt Carmel project alongside the Clarke Reward (project) with the aim of adding a significant gold resource to our portfolio.”