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Boss ups Honeymoon uranium resource by 90%

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Boss ups Honeymoon uranium resource by 90%

Boss ResourcesLtd. has increased the uranium resource at its Honeymoon project in South Australia to 53 millionpounds with the definition of a maiden resource for the Gould's Dam prospect.

The ASX-listed explorer said April 8 that Gould's Dam now hosts22.1 million tonnes at 510 parts per million for 25 million pounds of containedU3O8.

The initial resource comprises 17.7 million tonnes at 480 ppmfor 18.7 million pounds of contained U3O8 in the inferred category and 4.4 milliontonnes at 650 ppm for 6.3 million pounds of contained U3O8 in the higher confidenceindicated category.

This has increased the total resource within the Honeymoon projectby 90%.

Director of geology Marat Abzalov said the Gould's Dam resourceestimation has exceeded Boss' initial expectations.

"We are highly encouraged that further drilling will significantlyadd to the resource endowment as this is a large and highly endowed uranium systemand the current estimate is constrained by low data density," he said.

According to Boss, the current resource model indicates significantpotential for future increases through extensional and infill drilling throughoutthe 15-kilometer strike length at Gould's Dam.

Outside of the resource, the company has outlined an explorationtarget of between 10 million tonnes and 20 million tonnes at grades of 300 ppm to1,200 ppm for between 10 million pounds and 20 million pounds of contained U3O8.

Boss, which acquired the Honeymoon project through the of Uranium One Australia (Pty) Ltd. in December 2015, is nowplanning for resource drilling in the Jasons region located within the eastern tenements.