(MENAFN- ProactiveInvestors)
() has increased the uranium resource to 27.6 million pounds at an average grade of 820ppm U3O8 at the Honeymoon project in South Australia.
The project which was acquired from Uranium One in 2015 is currently on care and maintenance.
Honeymoon has had extensive exploration by previous owners and has one of the highest uranium grades with a new high grade zone of 1420ppm eU3O8.
A maiden Measured resource of 6.5 million pounds of U3O8 at 1720ppm was also defined as well as an Indicated resource of 4.2 million pounds of U3O8.
The current resource base is likely to be a starting point given Honeymoon is part of a large uranium region and largely un-explored.
Providing confidence is that intercepts of up to 2.8 metres at 1800ppm eU3O8 were returned from exploration over 1 kilometre outside the current resource.
The exploration tenement package of 2600km2 provides scope for Boss to build a formidable high grade uranium resource.
Boss raised $4.3 million in 2015 to support the acquisition. An advantage of the project is the relatively low cost of infill drilling.
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