B o
ACTIVITY REPORT
DECEMBER QUARTER 2018
Highlights:
Fraser Range - General
• On 7 December 2018 a Mining Warden Ballot was held for a series of Exploration Licence Applications
adjacent to the Creasy Group’s Silver Knight Discovery. The company is pleased to advise that it
was successful in two of the ballots.
• There are 2 significant nickel discoveries in the Fraser Range and Boadicea is strategically positioned next to
them both.
• Boadicea`s increased landholding, ongoing applications and upcoming exploration at Symons Hill
confirms our commitment to the Fraser Range.
Symons Hill Project (Ni-Cu) – Fraser Range
• Permitting and field preparation for the Moving Loop Electromagnetic (MLEM) survey over the priority
untested north eastern targets is complete. The survey will commence early in the next Quarter.
Fraser South Project (Ni-Cu) – Fraser Range
• The company has increased its landholding in the highly prospective Fraser Range region by over 300%
to 231km2, with the Fraser South tenement E63/1859
having been granted by the DMIRS. The Project is
positioned at the southern margin of the Fraser Gravity Ridge, adjacent to Independence Group’s Southern
Hills Project and Galileo Mining’s Yardilla Project,
~70km southwest of the Nova Nickel Mine.
BOADICEA RESOURCES LTD
ACN: 149 582 687
ASX Announcement &
Media Release
ASX Code: BOA
Issued Capital:
52,845,172 Shares
Nil Options
Postal Address:
Suite 2, 25 Koornang Road,
Carnegie, Victoria, 3163,
Australia
Email: Clarke Dudley – Managing Director
Phone: +61 3 9569 3467
Fax: +61 3 9572 3762
Web: www.boadicearesources.com.au
BOADICEA RESOURCES LTD
ASX ANNOUNCEMENT 16 January 2019
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Symons Hill Ni-Cu Project WA (E28/1932 - 100% Boadicea) The flagship Symons Hill Project is located within the Fraser Range, 4km from the Nova-
Bollinger nickel-copper mine. The Fraser Range is situated halfway between Norseman and
Balladonia, 100km east of Norseman in Western Australia.
Boadicea is advancing the Symons Hill Project systematically, collecting and analysing quality datasets and drill testing priority targets, as warranted.
Figure 1 - Symons Hill Project Area (E28/1932) Over RTP Aeromagnetic Image Highlighting the North
Eastern MLEM Targets Relative to the Position of Nova and the Creasy Group Silver Knight Prospect.
During the June Quarter 2018 the Company completed 3 diamond drill holes to test a series of encouraging MLEM conductor anomalies at the Bell Ringer Prospect (Refer ASX
announcements of 22nd
May). Following this Downhole Electromagnetic (“DHEM”) surveying
of the holes was completed. The DHEM survey confirmed the intersection of the targeted conductors and also identified 2 new “off-hole” conductors (Refer ASX announcements of 22
nd
May and 17th July 2018), the source of which remains to be explained.
Permitting and field preparation for the additional MLEM program over the priority untested
north eastern targets (SH-09, SH-10 & SH-11) (Figure 1) is complete. The survey will
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commence early in the next Quarter, with follow-up drilling as warranted. The Company will
also assess the priority of drill testing the Bell Ringer “off-hole” conductors in the light of the results from the additional MLEM work.
Fraser South Nickel-Copper Project (E63/1859 – 100% Boadicea)
During September 2017, the Company applied for a 158km2 Exploration Licence (E63/1859) in
the south of the Fraser Range region. The Project is positioned at the southern margin of the
Fraser Gravity Ridge, adjacent to Independence Group’s Southern Hills Project and Galileo Mining’s Yardilla Project, ~70km southwest of the Nova Nickel Mine (Figure 2).
The application was granted by the DMIRS during the quarter. This now increases the
company’s landholding in the highly prospective Fraser Range region by over 300% to 231km2,
adding significantly to Boadicea`s exploration portfolio.
Figure 2 – Boadicea’s granted Fraser South Project (E63/1859) location relative to the Nova
Nickel-Copper Mine and the Symons Hill Project (E28/1932) within the Fraser Range.
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Horseshoe Lithium Pegmatite Project (E15/1596 – 95% Boadicea)
The Horseshoe lithium pegmatite project is located 75km south-southwest of Coolgardie in the
Eastern Goldfields district of Western Australia.
The project is located in a region of significant pegmatite development and covers 204km2 of the
Horseshoe greenstone belt. Outcrop is limited, but the belt is well defined by aeromagnetics (Figure 3). The area has not previously been explored for lithium pegmatites, but pegmatites
have been noted in historic gold and nickel exploration reports, particularly at the Tramline Prospect of Metals Exploration Ltd.
To date the Company has completed initial geological field reconnaissance of the project area including some rock chip and soil geochemical sampling, to assist with planning first pass
exploration activities. While outcrop within the project area was found to be minimal, pegmatite subcrop and float was noted in a number of historic nickel and gold exploration tracks.
Figure 3 – Horseshoe Project – El15/1596 over aeromagnetics showing extent of “semi-blind” greenstones
(magnetic highs), the position of the 3 initial pegmatite targets and auger soil sample locations.
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A first pass 595 sample auger soil geochemical program testing the 3 initial pegmatite targets
Arabian, Waler and Clydesdale was completed during the September quarter (Figure 3). Results were disappointing with no significant gold assays returned and only low level lithium and
associated multielements.
The company will further review these results with a view to plan additional geochemical
programs testing other targets and/or tenement rationalisation.
Paraburdoo PGE & Au Project WA (E47/2936 - 100% Boadicea)
The Paraburdoo Exploration Licence is located 25km west-northwest of the township of
Paraburdoo in Western Australia and covers an area of 221km2. The project is considered
prospective for platinum, palladium, gold, copper and nickel, associated with a mafic
volcanic/intrusive complex.
Work completed to date has highlighted a series of PGE and gold soil anomalies warranting
further investigation including extensive, but modest tenor PGE, nickel & cobalt anomalism associated with the basal part of the ultramafic Pyradie Fm over a combined 15km of strike.
Within this broader anomaly, three higher tenor (relatively) PGE prospect areas have been defined, namely Hope Creek, Breakneck and Bellary North. Of the three prospect areas, Hope
Creek is the largest and strongest having a 5km long “Z” shape and generally averaging 300-
400m in width. Peak PGE results are 126ppb Pd and 36ppb Pt.
The Company completed a geochemical sampling programme during the Quarter targeting a number of identified gold targets in the south and southeast of the Project, including
investigating the conglomerate hosted gold potential in the far south-eastern area. Results are
awaited and will be reported during the following Quarter.
Wildara Lithium – Gold Project (E36/873 – 100% Boadicea) The Wildara Project is located 30km southwest of Leinster in the northeast Goldfields region of
Western Australia, and now comprises the one granted Exploration Licence covering an area of 60km
2. The Weebo tenement E36/813 was allowed to expire during the quarter.
The project area has been targeted on the basis of highly anomalous lithium results from a
Minerals Research Institute of Western Australia (“MRIWA”) regional scale bore water
geochemical sampling program across the northern Yilgarn Craton. Six bores are located within the project area, including the 5th highest (1,140ug/L) lithium anomalous bore within the entire
3,120 sample dataset.
During the Quarter a surface geochemical programme was completed to test the lithium and gold
potential. Results are awaited and will be reported during the following Quarter.
Hyde Soak Lithium Project (E70/4875 - 100% Boadicea) The Hyde Soak Lithium project covers an area of 252km
2 located 115km northeast of Geraldton.
Boadicea applied for the Hyde Soak project area on the basis of a large, modest tenor, but
coherent lithium soil anomaly defined by broad spaced (2-4km) WA Geological Survey regional soil sampling programs. At the +20 ppm lithium contour, this anomaly is at least 20km long and
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8 km wide and peaks at 45.5ppm Li. Geological outcrop in the area is very limited, but it is
considered that the existing anomaly is most likely clay hosted and associated with a partially buried ancient lake / river system, the remnants of which are visible in aerial photography.
Initial fieldwork during 2017 comprised geochemical sampling on 1km spacing’s along 5 lines
across parts of the GSWA anomaly. This program confirmed extensive, coherent albeit modest tenor, lithium anomalism.
The Company is currently considering options for this project.
Figure 4 – Location of the two Exploration Licence Applications successful in the Mining Warden ballots
relative to the Symons Hill Project (E28/1932) and the Creasy Group Silver Knight Discovery.
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Lake Nerramyne Ni-Cu, PGE & Attapulgite Project (100% Boadicea) The Lake Nerramyne Exploration Licence of 39km
2 located 160km northeast of Geraldton in
Western Australia was surrendered during the Quarter.
New Projects: On 7 December 2018 a Mining Warden Ballot was held for a series of Exploration Licence
Applications adjacent to the Creasy Group’s Silver Knight Discovery.
The company is pleased to advise that is was successful in two of the ballots - see attached map
(Figure 4) of licence locations in relation to the Silver Knight nickel discovery licence.
On 22 October 2018 an Exploration Licence Application in the Fraser Range region was made.
The Application of ~93km2 is located ~15km southeast of the Creasy Group’s Silver Knight
discovery.
On 9 November 2018 further Exploration Licence Application’s in the Fraser Range region were
made. The four Applications, totalling ~159km2 are located within the Fraser Gravity Ridge
~100-150km northeast of the Symons Hill Project.
There were other applicants for this tenure and a ballot date for these new applications will be advised.
Corporate: The following corporate activities were reported during the quarter:
• On 5 October 2018 the Company lodged its annual accounts and AGM notice;
• On 17 October 2018 the Company lodged its September Quarterly and Appendix 5B;
• On 9 November 2018 the company lodged its AGM presentation;
• On 9 November the results of the AGM were released.
Tenement information, as required by ASX listing rule 5.3.3
Granted Tenements held at the end of the Quarter:
Tenement Project Location Ownership
E28/1932 Symons Hill Fraser Range 100%
E63/1859 Fraser South Fraser Range 100% E47/2936 Paraburdoo Paraburdoo 100%
E70/4875 Hyde Soak Geraldton 100% E15/1596 Horseshoe Coolgardie 95%
E36/873 Wildara Leinster 100%
All tenements are in Western Australia.
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Contact Information: For further information please contact:
Clarke Dudley Executive Chairman and CEO
Tel: (03) 9569 3467
Competent Persons Statements:
The information in this Announcement that relates to Exploration Results was compiled by Mr G. Purcell, who is a
part time consultant to the Company and a Member of the Australian Institute of Geoscientists. Mr Purcell has
sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the
activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code
for Reporting of Exploration Results, Minerals Resources and Ore Reserves’. Mr Purcell consents to the inclusion
in the Report of the matters based on his information in the form and context in which it appears.
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 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 effect 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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JORC Code, 2012 Edition - Table 2
Section 1 - Sampling Techniques and Data
Criteria JORC Code Explanation Comments
Sampling
Techniques
Nature and quality of sampling (eg cut channels,
random chips, or specific specialised industry standard
measurement tools appropriate to the minerals under
investigation, such as down hole gamma sondes, or
handheld XRF instruments, etc). These examples should
not be taken as limiting the broad meaning of
sampling.
Auger samples were collected at depths ranging from
0.3 to 1.5m. Samples were collected at the pedogenic
carbonate horizon if present. Maximum carbonate
was determined using hydrochloric acid. A bulk
sample of 500g was collected in a Kraft Geochem bag
which is numbered and sealed.
Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any
measurement tools or systems used.
Samples are considered to be representative of the
near surface material sampled.
Aspects of the determination of mineralisation that are
Material to the Public Report. In cases where ‘industry
standard’ work has been done this would be relatively
simple (eg ‘reverse circulation drilling was used to
obtain 1 m samples from which 3 kg was pulverised to
produce a 30 g charge for fire assay’). In other cases
more explanation may be required, such as where
there is coarse gold that has inherent sampling
problems. Unusual commodities or mineralisation
types (eg submarine nodules) may warrant disclosure
of detailed information.
QA/QC protocols include the insertion of field
duplicates and appropriate commercial standards.
Statistical analyses of the results suggest the samples
are representative. Auger soil samples were submitted
to Intertek (Genalysis) Perth for analysis. The samples
was pulverized and analysed for gold by auqa-regia
digest and MS finish, and a 48 multi-element suite by
mixed acid digest with a MS finish.
Drilling
Techniques
Drill type (eg core, reverse circulation, open-hole
hammer, rotary air blast, auger, Bangka, sonic, etc)
and details (eg core diameter, triple or standard tube,
depth of diamond tails, face-sampling bit or other type,
whether core is oriented and if so, by what method,
etc).
No drilling
Drill Sample
Recovery
Method of recording and assessing core and chip
sample recoveries and results assessed. No drilling
Measures taken to maximise sample recovery and
ensure representative nature of the samples. No drilling
Whether a relationship exists between sample recovery
and grade and whether sample bias may have
occurred due to preferential loss/gain of fine/coarse
material.
No drilling
Logging
Whether core and chip samples have been geologically
and geotechnically logged to a level of detail to
support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
All samples were described and recorded in a digital
database.
Whether logging is qualitative or quantitative in
nature. Core (or costean, channel, etc) photography. Logging of geochemical samples is qualitative.
The total length and percentage of the relevant
intersections logged.
All samples were described and recorded in a digital
database.
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Sub-sampling
techniques
and sample
preparation
If core, whether cut or sawn and whether quarter, half
or all core taken. No drilling
If non-core, whether riffled, tube sampled, rotary split,
etc and whether sampled wet or dry.
All auger samples were dry and sampled with a sample
scoop.
For all sample types, the nature, quality and
appropriateness of the sample preparation techniques
The sample preparation for all samples follows
industry best practice and was undertaken at Intertek
(Genalysis) Perth, where they were crushed, dried and
pulverised to produce a sub sample for analysis.
Sample preparation involving oven drying, coarse
crushing, followed by total pulverisation in LM2
grinding mills to a grind size of 85% passing 75
microns.
Quality control procedures adopted for all sub-
sampling stages to maximise representivity of samples.
QC for sub sampling follows Intertek (Genalysis)
internal procedures.
Measures taken to ensure that the sampling is
representative of the in situ material collected,
including for instance results for field
duplicate/second-half sampling.
One field duplicate for every 30 samples were
collected for the auger soil geochemical sampling
Whether sample sizes are appropriate to the grain size
of the material being sampled.
The sample sizes are considered to be appropriate and
representative of the material being sampled.
The nature, quality and appropriateness of the
assaying and laboratory procedures used and whether
the technique is considered partial or total.
All auger samples were analysed for gold by auqa-
regia digest an ICP/MS finish, and a 48 multi-element
suite by mixed acid digest with a ICP/MS finish.
Sample preparation checks for fineness were carried
out by the laboratory as part of their internal
procedures to ensure the grind size of 85% passing 75
micron was being attained.
Quality of
assay data
and
laboratory
tests
For geophysical tools, spectrometers, handheld XRF
instruments, etc, the parameters used in determining
the analysis including instrument make and model,
reading times, calibrations factors applied and their
derivation, etc.
No geophysical tools or XRF were used for the
geochemical sampling.
Nature of quality control procedures adopted (eg
standards, blanks, duplicates, external laboratory
checks) and whether acceptable levels of accuracy (ie
lack of bias) and precision have been established.
Laboratory QA/QC involves the use of internal lab
standards using certified reference material, blanks,
splits and duplicates as part of the in-house laboratory
procedures. Repeat or duplicate analysis for samples
shows that the precision of samples is within
acceptable limits.
Verification
of sampling
and assaying
The verification of significant intersections by either
independent or alternative company personnel.
The assays have been verified by company personnel
and independent consultants.
The use of twinned holes. No drilling
Documentation of primary data, data entry
procedures, data verification, data storage (physical
and electronic) protocols.
Primary data was collected using a set of standard
templates and then entered into laptop computers
and then stored on company/consultant servers.
Discuss any adjustment to assay data. No adjustments or calibrations were made to any
assay data used in this report.
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Location of
Data Points
Accuracy and quality of surveys used to locate drill
holes (collar and down-hole surveys), trenches, mine
workings and other locations used in Mineral Resource
estimation.
All drill holes have been located by handheld GPS to
an accuracy of +/-5m.
Specification of the grid system used. UTM grid GDA94 Zone 51 (S)
Quality and adequacy of topographic control. The grid system is GDA94 Zone 51 (S). Topographic
control is based on Government available datasets.
Data spacing
and
distribution
Data spacing for reporting of Exploration Results. Geochemical samples were collected at nominal 200m
spacings on 400m spaced lines.
Whether the data spacing and distribution is sufficient
to establish the degree of geological and grade
continuity appropriate for the Mineral Resource and
Ore Reserve estimation procedure(s) and classifications
applied.
The data will not be used for mineral resources or
reserves.
Whether sample compositing has been applied. No compositing of geochemical samples.
Orientation
of data in
relation to
geological
structure
Whether the orientation of sampling achieves unbiased
sampling of possible structures and the extent to which
this is known, considering the deposit type.
Not applicable for the completed survey.
If the relationship between the drilling orientation and
the orientation of key mineralised structures is
considered to have introduced a sampling bias, this
should be assessed and reported if material.
No drilling
Sample
security The measures taken to ensure sample security.
Chain of custody for all samples was managed by the
sampling contracting company delivering the samples
directly to the assay laboratory premises.
Audits or
reviews
The results of any audits or reviews of sampling
techniques and data.
The sampling techniques are consistent with industry
standards.
JORC Code, 2012 Edition - Table 2
Section 2 - Reporting of Exploration Results
Criteria JORC Code Explanation Comments
Mineral
tenement and
land tenure
status
Type, reference name/number, location and
ownership including agreements or material
issues with third parties such as joint ventures,
partnerships, overriding royalties, native title
interests, historical sites, wilderness or national
park and environmental settings.
The Horseshoe Project comprises a single granted
Exploration Licence (E15/1596 which is owned 95% by
Boadicea Resources. The exploration licence is located on
VCL.
The security of the tenure held at the time of
reporting along with any known impediments to
obtaining a licence to operate in the area.
The tenement is in good standing with no known
impediments.
Exploration Acknowledgment and appraisal of exploration by
other parties.
Previous exploration has been for gold and nickel. There
has been no previous exploration for LCT pegmatites.
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Geology Deposit type, geological setting and style of
mineralisation.
The primary target is LCT pegmatite dykes and sills
intruding the Horseshoe greenstone belt. A secondary
target of orogenic gold mineralisation is also under
consideration.
Drill Hole
Information
A summary of all information material to the
understanding of the exploration results including
a tabulation of the following information for all
Material drill holes:
Appropriate maps and plans accompany this
announcement. No drilling has been undertaken.
o easting and northing of the drill hole collar No drilling
o elevation or RL (Reduced Level – elevation
above sea level in metres) of the drill hole collar No drilling
o dip and azimuth of the hole No drilling
o down hole length and interception depth No drilling
o hole length. No drilling
If the exclusion of this information is justified on
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent
Person should clearly explain why this is the case.
No information is excluded.
Data
Aggregation
Methods
In reporting Exploration Results, weighting
averaging techniques, maximum and/or
minimum grade truncations (eg cutting of high
grades) and cut-off grades are usually Material
and should be stated.
No averaging techniques are used, any reported grades are
simply the result reported by the laboratory.
Where aggregate intercepts incorporate short
lengths of high grade results and longer lengths
of low grade results, the procedure used for such
aggregation should be stated and some typical
examples of such aggregations should be shown
in detail.
No drilling or aggregate intercepts used. Any reported
grades are simply the result reported by the laboratory.
The assumptions used for any reporting of metal
equivalent values should be clearly stated. No metal equivalent values are used in this report.
Relationship
between
mineralisation
widths and
intercept
lengths
These relationships are particularly important in
the reporting of Exploration Results.
The results are single point soil data. No areas of
mineralisation are established.
If the geometry of the mineralisation with respect
to the drill hole angle is known, its nature should
be reported.
No drilling has been undertaken and no mineralisation has
been defined.
If it is not known and only the down hole lengths
are reported, there should be a clear statement
to this effect (eg ‘down hole length, true width
not known’).
No drilling
Diagrams
Appropriate maps and sections (with scales) and
tabulations of intercepts should be included for
any significant discovery being reported These
should include, but not be limited to a plan view
of drill hole collar locations and appropriate
sectional views.
Sample location data used to illustrate the concept are
displayed in the body text of this announcement.
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Balanced
Reporting
Where comprehensive reporting of all Exploration
Results is not practicable, representative
reporting of both low and high grades and/or
widths should be practiced to avoid misleading
reporting of Exploration Results.
No significant or anomalous auger soils results were
received or reported. All relevant data is shown in the body
of the report.
Other
substantive
exploration
data
Other exploration data, if meaningful and
material, should be reported including (but not
limited to): geological observations; geophysical
survey results; geochemical survey results; bulk
samples – size and method of treatment;
metallurgical test results; bulk density,
groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances.
See body text of this announcement.
Further Work
The nature and scale of planned further work (eg
tests for lateral extensions or depth extensions or
large-scale step-out drilling).
A review of other targets within the tenement will be
considered for grid based auger soil geochemistry.
Diagrams clearly highlighting the areas of
possible extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
See body text of this announcement.