BOA’s Murchison Copper Bet Faces Heritage and Tenement Hurdles Ahead of Drilling

Strategic Acquisition in a Proven Copper District

BOA Resources Limited (ASX – BOA) has taken a decisive step to expand its footprint in Western Australia’s highly prospective Murchison Copper Belt through the acquisition of a 49% interest in Stanifer Pty Ltd. This entity holds 13 exploration licences covering approximately 1,140 square kilometres at the Neds Creek Copper Project. The project area is strategically positioned near established copper operations such as Sandfire Resources’ DeGrussa and Monty mines, as well as the Thaduna and Green Dragon deposits, underscoring the potential for significant discoveries.

Managing Director Cath Norman highlighted the acquisition as a pivotal move in BOA’s strategy to diversify and strengthen its critical minerals portfolio. The Neds Creek Project offers a compelling mix of advanced, drill-ready copper targets alongside substantial exploration upside, positioning BOA to potentially uncover Australia’s next major copper resource.

Promising Copper Targets and Exploration Plans

The project hosts multiple copper prospects characterized by sediment-hosted, structurally controlled mineralisation. Among these, the Ricci Lee prospect stands out as an advanced, drill-ready target with ore-grade copper intersections and proximity to the Thaduna Copper Deposit. Similarly, the Enigma prospect features a broad, shallow copper system with historical drilling revealing high-grade copper intercepts. Additional targets such as Rooneys, Limestone Bore, and East/NE Green Dragon further enhance the project’s exploration potential.

BOA plans to commence drilling activities in the first half of 2026, prioritizing resource definition at Ricci Lee and advancing exploration at other high-potential sites. The company intends to integrate machine learning-assisted targeting techniques, leveraging extensive historical geochemical, drill, and geophysical data to accelerate discovery and resource delineation.

Capital Raise and Funding Allocation

To support its exploration ambitions, BOA successfully completed a $3.75 million placement at a 16.67% discount to the recent volume-weighted average price. This capital injection strengthens BOA’s balance sheet, providing approximately $4.3 million in cash to fund heritage agreements, tenement grants, regional prospect mapping, and the upcoming drilling programs. BW Equities acted as lead manager and book runner for the placement.

Strategic Growth and Future Prospects

The acquisition aligns with BOA’s broader strategy to diversify its portfolio and reduce risk by adding high-quality copper assets. The company also holds an exclusive option to acquire the remaining 51% of Stanifer, potentially consolidating full ownership of the Neds Creek Project. BOA’s commitment to responsible exploration is evident through ongoing heritage agreements with local Indigenous groups and adherence to strong environmental, social, and governance (ESG) standards.

With drilling scheduled for early 2026 and a clear pathway to expand its regional presence, BOA is positioning itself to capitalize on the growing demand for copper, a critical metal underpinning the global energy transition.