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BOA RESOURCES LTD — Capital/Financing Update 2021
Jun 23, 2021
64547_rns_2021-06-23_22271c31-ab90-451a-9c44-2e3bc2afc8e3.pdf
Capital/Financing Update
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BOADICEA RESOURCES LTD
ASX ANNOUNCEMENT 24 June 2021
BOADICEA RESOURCES LTD ACN: 149 582 687 ASX Announcement & Media Release Issued Capital: 77,699,895 Shares (BOA) 19,554,149 Options (BOAOA) Postal Address: PO Box 245 Malvern 3144 Victoria
Email: [email protected] Phone: +61 (0)409 858 053 Fax: +61 3 9500 9508
LAND ACCESS AND MINERAL EXPLORATION AGREEMENT SIGNED: KOONGULLA EXPLORATION ADVANCES
HIGHLIGHTS:
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BOA and the Western Desert Lands Aboriginal Corporation (Jamukurnu-Yapalikuna) have signed a Land Access and Mineral Exploration Agreement for BOA’s three (3) “Koongulla” tenements.
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BOA’s three (3) “Koongulla” tenements (two (2) in application) cover 612 km[2] in the highly prospective Paterson Province WA.
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Commitment to additional airborne geophysical survey, infilling gaps to the Koongulla Dome data, scheduled to commence in August 2021.
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On completion of the application advertising period for Koongulla East (11 October 2021), an on ground gravity survey will advance over the much-anticipated Telfer-look-a like dome feature BOA has identified.
Web: www.boadicea.net.au
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The dome feature straddles Koongulla and Koongulla East tenements (E45/5392 and E45/5866).
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Paterson Province hosts the world class 32Moz Telfer mine (Newcrest), and developing projects including Rio Tinto’s 2.2Mt CuEq Winu and Newcrests 3.4Moz Havieron.
Boadicea Managing Director Jon Reynolds commented: “Completion of the Land Access Agreement will enable Boadicea to progress ground exploration of it’s prospective Koongulla tenements. In particular, Boadicea looks forward to progressing exploration of the muchanticipated Telfer-look-a-like dome feature previously announced, which has the potential to be a significant company making discovery. Boadicea looks forward to a long term relationship with the Martu People on their native lands.”
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Boadicea Resources Ltd (“BOA”) PO Box 245 Malvern 3144 Victoria
www.boadicea.net.au [email protected]
BOADICEA RESOURCES LTD
PATERSON PROVINCE EXPLORATION
BOA’s “Koongulla” tenements, located in the highly prospective Paterson Province WA (see Figure 1) have the potential to become the next major discovery in the region and be a significant company maker. In particular BOA will focus on exploration of the Telfer-look-a-like dome feature, announced 12 March 2021, which is interpreted to be at a drill achievable depth estimated to be between 200m to 250m metres, and specifically has the same scale and orientation of the 32Moz Au, 1Mt Cu Telfer mine owned by Newcrest Mining Limited. The broad dimensions of the Koongulla Dome feature are estimated to be 7.5km long and 3km wide with its long axis orientated in a NW – SE direction which reflects similar dimensions to the Telfer mine dome.
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Figure 1 Koongulla Tenement Location
BOA has tenements that cover 612 km[2 ] in the Paterson Province, as presented in Table 1 below.
| Tenement # | Name | Status | BOA % |
|---|---|---|---|
| E45/5392 | Koongulla | Granted | 95% |
| E45/5866 | Koongulla North | Application -grantpending | 100% |
| E45/5392 | Koongulla East | Application – in advertising period | 100% |
Table 1 Tenement Status
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Boadicea Resources Ltd (“BOA”) PO Box 245 Malvern 3144 Victoria
www.boadicea.net.au [email protected]
BOADICEA RESOURCES LTD
As mentioned, the grant of the licence for Koongulla East (E45/5392) is expected following the conclusion of the compulsory application advertising period (11 October 2021).
The Koongulla Dome, which is a Telfer-look-a-like dome feature, straddles the Koongulla (E454/5392) and Koongulla East Licences (E45/5866). Significantly, several deposits in the Paterson Province are associated with known dome structures including the world class Telfer mine (Figure 2).
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Figure 2 Telfer-look-a like dome featutre identified
As summarised in the last Quarterly Report (ASX announcement 27 April 2021), BOA also has a number of other targets identified in the Koongulla tenements, following the aiborne geophysics survey completed in December 2020.
LAND ACCESS AGREEMENT
The Company has completed a Land Access and Mineral Exploration Agreement with the Western Desert Lands Aboriginal Corporation (WDLAC) who are representatives of the Martu Native Title Holders.
The now completed Land Access agreement, and recently completed capital raising, will now allow BOA to progress exploration of known “Koongulla” targets, and potentially discover new targets.
On ground exploration activities for the Koongulla Dome will follow the conclusion of
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Boadicea Resources Ltd (“BOA”) PO Box 245 Malvern 3144 Victoria
www.boadicea.net.au [email protected]
BOADICEA RESOURCES LTD
the compulsory advertising period (11 October 2021) for Koongulla East application, and subsequent granting of the licence.
The Company looks forward to working with the Martu People in an open and respectful way that reflects the historic ownership of the lands.
ADDITIONAL AIRBORNE GEOPHYSICS EXPLORATION
The Company has confirmed additional detailed airborne geophysics for the Koongulla project, with a focus on the Koongulla East tenement (E45/5392).
MAGSPEC Airborne Surveys Pty Ltd has been engaged to conduct the aeromagnetic survey on 100m spaced, east–west oriented lines covering 1,842 line kilometres. This survey will complete the airborne geophysical survey for all three (3) Koongulla tenements with focus on the new Koongulla East tenement. The completion of this survey will fill in known data gaps for the Koongulla Dome as shown in Figure 2.
Assessment of the results will be completed by our geophysical consultant, Southern Geoscience Consultants (SGS) in September 2021.
Authorised by the Board of Boadicea Resources Ltd.
END
Contact Information:
For further information please contact:
Jon Reynolds
Managing Director Tel: 61 (0) 409 858 053 [email protected] www.boadicea.net.au
Disclaimer:
Information included in this release constitutes forward looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, estimate”, “anticipate”, “continue” and “guidance” or other similar words, and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs. Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the company’s actual results, performance, and achievements to differ materially from any future results, performance, or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing
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Boadicea Resources Ltd (“BOA”) PO Box 245 Malvern 3144 Victoria
www.boadicea.net.au [email protected]
BOADICEA RESOURCES LTD
quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the company operates or may in the future operate, environmental conditions including extreme weather conditions, staffing and litigation.
Forward looking statements are based on the company and its management’s assumptions made in good faith relating to the financial, market, regulatory and other relevant environments that exist and affect the company’s business operations in the future. Readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements are only current and relevant for the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the company does not undertake any obligation to publicly update or revise any of the forward-looking statements or advise of any change in events, conditions or circumstances on which such statement is based.
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Boadicea Resources Ltd (“BOA”) PO Box 245 Malvern 3144 Victoria