KEY PROJECT– SYMONS HILL

Location 

Symons Hill Ni-Cu Project WA (E28/1932 - 100% Boadicea) 

 

The Symons Hill Project is located within the Fraser Range Province of Western Australia, east of Norseman and approximately 200 kilometres southeast of Kalgoolie and covers an area of 73 square kilometres.

 

The company's exploration licence adjoins to the northeast, the Mining Licence hosting the world class Nova-Bollnger nickel-copper discovery. Nova-Bollinger is ownded by the Independence Group NL after it completed the $1.8 billion takeover of the previous owner, Sirius Resources, during late 2015. Interestingly, corporate activity has heightened in the Fraser Range region since the takeoverof Sirius culminating in the $20 million takeover of Winrward Resources by Independence in October 2016. As a result of this corporate activity the only independently owned Exploration Licences remaining around Nova-Bollinger held by listed exploration companies are those held by Boadicea and Matsa Resources.

 

Boadicea's geophyisical consultants have completed a follow-up Moving Loop Electromagnetic (“MLEM”) geophysical survey at the Bell Ringer prospect at the Company’s 100% owned Symons Hill Project, which is located in the Fraser Range region of Western Australia. The Symons Hill Project adjoins the Nova-Bollinger nickel-copper Mining Lease and the Company is targeting this style of mineralisation (Figure 1). 

 

 The completed MLEM program was following-up the exciting MLEM results reported in January which included the definition of four encouraging conductor anomalies of various size, orientation and conductance. For full details of the original results please read the ASX announcement of 31 January 2018.

 

Figure 1 - Symons Hill Project - Location of Bell Ringer Prospect Over High Resolution Gravity Image. Mining Lease M28/376 is owned by Independence Group NL.

Results for the completed follow-up survey have confirmed and refined the position, orientation and anomalism of each of the four conductor anomalies (Bell Ringer C1 – C4) and resulted in an additional conductor anomaly being defined north of C2 (“C2 North”). The details of each of the now 5 conductor anomalies are presented in Table 1 and shown on Figure 2.

Figure 2 - Symons Hill Project – Bell Ringer Prospect – (A) Imaged plan of Ch 34 Z (late time) component EM response showing the position of the modelled conductor plates; (B) Plan of modelled conductor plates; and (C) 3D view of priority conductor plates looking “up” and north.

Table 1 - Symons Hill Project – Bell Ringer Prospect - Details of Defined EM Conductors

Conductor Name

C1

C2

C2N

C3

C4

Modelled Length

890m

400m

400m

330m

300m

Modelled Depth Below Surface

-460m

-185m

-140m

-280m

-170m

Modelled Dip

-120

00

150

00

150

Conductance (siemens)

4,000

1,500

1,500

1,500

700

Importantly, conductor anomalies C1 and C2 are “late time” conductors and as such will be the priority targets for initial drill testing.

Based on the Nova-Bollinger deposit model, where an initial 5,144 siemens#   EM anomaly resulted in the discovery of the Nova orebody, the Company is very encouraged by these results. It is noted that due to the depth and orientation of the defined anomalies, no surface geochemical expression would be expected.

 # Refer to Sirius Resources ASX Release – 18th April 2012

Planned Drill Testing

The Company plans to drill test the defined conductors as a priority and has already obtained all necessary DMIRS approvals and has commenced the selection process for a drilling contractor. Depending on rig availability, drilling is expected to commence during late April or early May.

Background To The MLEM Technique

The MLEM geophysical technique is designed to detect accumulations of minerals that will conduct an electrical charge such as massive sulphide nickel – copper mineralisation. This geophysical technique is used extensively in basemetal mineral exploration and was a significant contributor to the discovery of the nearby Nova-Bollinger nickel-copper mine. It must be noted however that other minerals such as barren sulphides and graphite can also generate strong EM anomalies and only drill testing can determine the significance of generated anomalies.