Potential could boost Boss production

Duncan Craib-led Boss Energy believes positive drilling results from the company's Gould’s Dam satellite deposit could pave the way for increased production at its Honeymoon project.

Boss, which produced its first drum of uranium at South Australia-based Honeymoon in April, told the market production from the nearby Gould’s Dam could increase the project's proposed annual nameplate capacity of 2.45 million pounds of uranium to the export permit maximum of 3.3 million pounds per year, and potentially extend Honeymoon’s life of mine.

“In light of these strong results, work has commenced on accelerating the development of Gould’s Dam, which is an important satellite project to the nearby Honeymoon mine,” Subiaco-based Boss said.

Drilling activities at Gould’s Dam were locked in on three key deposit targets: Billeroo, Beulah and Sunrise.

Presently, 96 mud rotary holes have been drilled for 12,911 metres across Sunrise and Billeroo, comprised of both infill and step-out drilling.

The company will now shift its gaze to the Beulah deposit, where 40 holes are expected to be drilled.

Aside from its recent success at Honeymoon, Boss announced on June 14 that it had also begun production at its Alta Mesa uranium project, located in the US state of Texas, after acquiring it in February.

Boss shares closed at $3.94 on Wednesday, down 1 per cent.