Boadicea Resources continues focus on Fraser Range and Paterson Province region in Western Australia

Boadicea Resources Ltd (ASX:BOA) will continue to focus on its activities within the Fraser Range and Paterson Province regions of Western Australia in 2021, along with plans to add new high-quality, low acquisition cost exploration tenements to the portfolio.  The company also received confirmation for the proposed IGO work program for the first half of 2021, which includes geophysics and diamond drilling focussing on prospect extensions into BOA’s Symons Hill licence.  During the December quarter of 2020, the company signed an agreement with IGO Ltd (ASX:IGO) (OTCMKTS:IPGDF) (FRA:IDZ) that provides IGO with exclusive exploration access rights to nine of BOA’s tenements in the Fraser Range and formed part of the sale deal.   Activities during the quarter During the quarter, BOA completed geochemical exploration on the two Fraser Range exploration licences managed by BOA, with some low-grade anomalism evident. Review of the historic geophysics for Koongulla in the Paterson Province of Western Australia indicated a series of regional-scale structures and trends, followed by detailed airborne geophysical survey. The results of the survey will be available in January 2021. New tenements application During the quarter, the company made applications for new tenements, including extension to the Koongulla project with Koongulla North in the Paterson Province, and after careful consideration of Queensland-based opportunities, the South West Ravenswood application was also completed. BOA/ Fraser Range exploration The Fraser Range remains the ‘hottest’ region for new nickel projects and the company has strategically positioned itself proximal to all three significant nickel discoveries in the Fraser Range, represented by the tenements, subject to the IGO deal. The company’s position in the region has grown substantially, with a total holding of about 740 square kilometres. BOA retains an extensive exploration tenement holding within the Fraser Range gravity high region of Western Australia. IGO new search exploration activities From September 4, 2020, IGO gained exclusive exploration access to the Symons Hill tenement, and eight others. For Symon’s Hill, IGO has developed an exploration program focussed on testing for potential extensions to the Orion, Hercules, and Elara prospects that are interpreted to extend into BOA’s Symons Hill licence. The Orion and Hercules prospects are on the boundary of the Nova and Symons Hill Licence and provide high priority targets and a possible extension to these targets within the BOA licence form the basis of the proposed exploration program. Through the project assessment process, IGO has identified more than 600 potential Fraser Range targets, of which there are 22 that are ready to be drill tested. Application of program of work and access clearing The company submitted a program of work application for planned exploration on the Symons Hill tenement, including diamond drilling and clearing for Moving Loop Electromagnetic (MLEM) surveys. Subject to the regulatory approvals and equipment availability, track clearing is scheduled to start in January - February 2021. Geophysical surveys The company is planning for a MLEM geophysical surveying, utilising a low temperature SQUID sensor to cover 499 stations within the Symons Hill licence to test for extensions of high priority IGO targets. The highest priority IGO target - Orion - will be tested for extensions to known intrusions, followed by surveying potential extensions of the Hercules and Elara prospects. The Orion extension geophysical surveys are estimated to commence in the first quarter of 2021 and scheduled to take three to four weeks to complete. Geophysical surveys targeting potential extension to the Hercules and Elara Prospects, are estimated to take a further three to four weeks to complete. Diamond drilling The company is planning to start a follow-up diamond drill program in the first or second quarter of 2021. This drilling program is dependent on the successful completion of the required preparatory activities described above. Shares issued The company has issued a total of 6,250,000 shares to IGO on October 23, 2020, as part of the sale agreement in relation to the nine Fraser Range Tenements. A total of 300,000 shares were issued on December 22, 2020, to the three Boadicea Board members.