Boss Energy and its partner Coda Minerals, a copper developer, have been granted four exploration tenements that are ‘highly prospective’ for uranium and copper mineralisation from the Government of South Australia.
The new exploration tenements, which form the Kinloch Project, have been awarded as part of the Government of South Australia’s Exploration Release Area (ERA) and under a mineral rights-sharing arrangement to Boss and Coda.
The ERA covers Cambrian-Ordovician Delamerian Orogen basement rocks and the overlying Cenozoic Murray Basin sediments in eastern South Australia.
Covering an area of around 3,184km², the Kinloch Project is located approximately 130km south of Boss Energy’s Honeymoon mine in eastern South Australia.
Boss managing director Duncan Craib said: “Boss has a thorough understanding of the geology style and its uranium potential due to its striking similarities with the geology at Honeymoon and surrounding areas.
“Boss will apply its wealth of exploration knowledge and in-depth understanding of uranium to the Kinloch Project area with the aim of establishing a new uranium province.”
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By GlobalData
Boss noted that the new project area’s geological setting is largely analogous to the Lake Eyre Basin to the north, where the company is exploring and exploiting palaeovalley-hosted uranium deposits.
In a press statement, Boss said: “The Kinloch Project area represents a highly promising new exploration frontier for Boss, which can utilize its expertise in this deposit style and leverage the infrastructure of the Honeymoon Uranium Mine.”
Boss and Coda will now sign mineral rights-sharing arrangements whereby Boss will serve as the operator for uranium exploration and hold 100% of the uranium rights. Coda will serve as operator for base metals exploration and own 100% of the base metal rights.
