Boss Energy continues to grow its uranium footprint, entering into an option agreement with Eclipse Group to earn up to 80 per cent of the Liverpool uranium project in the NT.
The uranium miner can unlock the agreement by spending $250,000 on the project in the first 12 months. Then Boss can earn the 80 per cent interest by spending $8 million across seven years.
Once Boss has earned an initial 49 per cent stake, during the first three years of the deal, it will form an unincorporated joint venture with Eclipse Group.
“We look forward to working with Eclipse Metals on unlocking the exploration potential of the Liverpool project in the Northern Territory,” Boss managing director Duncan Craib said. “The agreement has been structured so we can systematically progress the work through a number of stages and decision points.
“Boss has developed some leading uranium exploration technical capacity, and we look forward to applying this at the Liverpool project.”
The Liverpool project spans 1229km2, with previous exploration yielding several high-grade uranium assays in rock chips. Liverpool is considered prospective for unconformity-type uranium mineralisation, with numerous radiometric anomalies still untested.
Boss is also represented by its Honeymoon uranium operation in South Australia, which produced 215,319 pounds of uranium during the December quarter and achieved commercial production on January 1 following a successful ramp up.
The company also owns a 30 per cent stake in the Alta Mesa operation in Texas, US, which achieved its first shipment of 35,181 pounds in the December quarter.
enCore Energy, the 70 per cent owner and operator of Alta Mesa, has announced an accelerated action plan involving additional drilling and wellfield installation to capitalise on the mine’s high uranium capture potential.
“The wellfield decline curve at Alta Mesa is quite steep achieving approximately 80 per cent uranium capture in just over four months,” enCore said.
“With this we see very quick recovery of uranium, however this necessitates a very aggressive drilling and well completion schedule which requires extra logistical emphasis, urgency and oversight in the continued development and expansion of the wellfield.”
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