BOA Plans Drilling on Three WA Tenements, Holds $1.07M Cash with No Debt
BOA Resources is progressing its 2025 drilling plans across key lithium and nickel tenements in Western Australia, while managing delays in heritage surveys and optimizing its tenement portfolio to focus on high-potential assets.
- Drilling planned for Bald Hill East, Cat Camp, and Fraser South tenements in WA
- Heritage survey delays push drilling timetable to later in 2025
- BOA regains operatorship of Transline North and South tenements from IGO
- Portfolio rationalization includes relinquishment of Koongulla East and South tenements
- Strong cash position of $1.07 million with no debt maintained
Drill Planning Progresses Amid Heritage Survey Delays
BOA Resources Limited (ASX:BOA) has outlined its drilling plans for 2025, targeting its core lithium and nickel exploration tenements in Western Australia. The company intends to drill at Bald Hill East, Cat Camp, and Fraser South, subject to final heritage and regulatory approvals. However, delays in completing heritage surveys, particularly at Bald Hill East, have pushed the drilling timetable into the latter half of 2025.
At Bald Hill East, located just 2 kilometres from the established Bald Hill lithium mine, BOA aims to explore potential extensions of the known lithium mineralisation. Meanwhile, at Cat Camp in the Lake Johnston/Lake Percy region, the focus is on shallow, thick pegmatites with anomalous lithium geochemistry, alongside nickel mineralisation targets.
Fraser Range and Tenement Management
In the Fraser Range, the company plans to drill the Snowys Prospect within the Fraser South tenement, targeting highly conductive electromagnetic anomalies indicative of nickel, copper, and cobalt mineralisation. The heritage survey for Fraser South has been completed, and the Conservation Management Plan approved, with BOA awaiting Program of Work approval to commence drilling.
BOA has also taken back operatorship of the Transline North and Transline South tenements from IGO Limited, which had been evaluating these assets. These tenements include the Eggpie and Ballast NE nickel targets. Conversely, IGO will operate the Symons Hill tenement in the Fraser Range going forward.
Portfolio Rationalisation and Financial Discipline
Reflecting a strategic focus on high-potential exploration opportunities, BOA is actively rationalising its tenement portfolio. The company did not renew the Koongulla East and Koongulla South tenements in the Paterson Region due to high heritage survey costs and challenges in securing partners for gold exploration in that area.
BOA continues to maintain tight control over administration and personnel costs, ensuring efficient capital deployment. The company ended the quarter with $1.07 million in cash and no debt, positioning itself to fund its prioritized exploration programs effectively.
Looking Ahead
While heritage survey delays have deferred drilling activities, BOA remains committed to advancing its exploration agenda as soon as approvals are secured. The company is also evaluating new project opportunities aligned with its growth objectives, aiming to reallocate capital towards ventures with the highest potential returns.
Investors will be watching closely for updates on drill approvals and results, which will be critical in validating BOA’s exploration strategy and unlocking value from its Western Australian tenements.
Bottom Line?
BOA’s disciplined approach to portfolio management and drilling readiness positions it well for a pivotal exploration year ahead, despite regulatory delays.
Questions in the middle?
- When will BOA receive final approvals to commence drilling at Fraser South and other tenements?
- What impact will relinquishing Koongulla tenements have on BOA’s gold exploration ambitions?
- How will BOA’s regained operatorship of Transline North and South influence its nickel exploration strategy?
