Infill drilling at the Gould’s Dam deposit is looking to give a nice boost to Boss Energy’s Honeymoon uranium project.
Gould’s Dam lies 80km north–west of the Boss’ Honeymoon uranium project. Recent drill resting at the site revealed a host of strong results supporting Boss’ plan to grow Honeymoon’s life of mine and to lift production rates.
“These latest infill drilling results demonstrate the quality of the Gould’s Dam deposit and the strong potential for it to play an important role in the growth strategy at Honeymoon,” Boss managing director Duncan Craib said.
“In light of all the drilling results we have received, we have decided to start baseline technical and economic studies on Gould’s Dam with the aim of moving it towards development.”
Boss’ exploration strategy has already more than quadrupled the resource at Honeymoon from 16.6 million pounds (Mlbs) to 71.6Mlbs of uranium since the company acquired the project in December 2015.
The discovery comes as uranium trades just shy of the $60 mark, the highest in a decade.
Boss managing director Duncan Craib said the company has closely strategised Honeymoon’s recommencement.
“This timetable (first production in the December quarter of 2023) was designed to ensure we are in production at the start of the next forecast uranium bull market, not half-way through it,” he said.
“With the outlook for the uranium price continuing to strengthen amid growing use of nuclear power and a shift away from Russian uranium, we are perfectly positioned as we prepare to move into the final stages of construction ahead of commissioning.”