Boss Energy has released updated Mineral Resource Estimates for its Gould’s Dam and Jason’s Deposit uranium projects, revealing significant increases in contained uranium despite lower average grades. The company is advancing permitting and drilling plans to accelerate development near its Honeymoon Operation in South Australia.
- Gould’s Dam uranium resource increased by 30% to 33.1 million pounds
- Jason’s Deposit resource up 9% to 12 million pounds uranium
- Average uranium grades declined at both deposits compared to previous estimates
- Both deposits amenable to in-situ recovery mining with strong mineralisation continuity
- Permitting applications targeted for second half of 2026 with approvals expected in 24–36 months
Resource Growth Amid Grade Decline
Boss Energy Limited has unveiled updated Mineral Resource Estimates (MREs) for its Gould’s Dam and Jason’s Deposit uranium projects, located near the company’s producing Honeymoon Operation in South Australia. The new figures mark a substantial 30% increase in contained uranium at Gould’s Dam, now estimated at 33.1 million pounds, and a 9% rise at Jason’s Deposit to 12 million pounds. However, these gains come alongside a notable decline in average uranium grades; down 24% at Gould’s Dam and 48% at Jason’s Deposit compared to prior estimates from 2016 and 2017 respectively.
Geological Insights and Mining Potential
The updated resource models benefit from extensive drilling campaigns completed in 2023 and 2024, incorporating advanced geophysical tools such as prompt fission neutron (PFN) logging and borehole magnetic resonance (BMR) surveys. These have improved the understanding of mineralisation controls and stratigraphy, allowing for refined resource classification with 41% of Jason’s Deposit and 23% of Gould’s Dam now classified as Indicated resources.
Both deposits feature uranium mineralisation hosted within permeable sand aquifers of the Eyre Formation, situated at moderate depths between 75m and 135m. This geological setting is conducive to in-situ recovery (ISR) mining; a low-impact extraction method already employed at Honeymoon. The company is optimistic that the wide-spaced wellfield extraction approach under study at Honeymoon will be applicable to these satellite deposits, potentially enabling efficient conversion of resources into mineable inventory.
Advancing Permitting and Development
Boss Energy is progressing a comprehensive suite of baseline environmental and technical studies, including ecological, groundwater, and radiological surveys, to support forthcoming permitting applications. The company aims to submit Mining Lease applications in the second half of 2026, initiating state and federal approval processes expected to span 18 to 24 months, followed by an additional six to 12 months for environmental rehabilitation program approvals.
Importantly, no significant permitting risks have been identified to date, reflecting the company’s thorough preparatory work and the geological and operational similarities to the existing Honeymoon Operation. Drilling programs are planned to commence in late 2026 to further increase resource confidence and explore potential expansions beyond the current estimates.
Strategic Implications
These resource updates and development milestones position Gould’s Dam and Jason’s Deposit as potentially material contributors to Boss Energy’s future uranium production profile. Leveraging existing infrastructure at Honeymoon could streamline development timelines and capital requirements, enhancing the company’s operational leverage in a uranium market increasingly focused on supply security and sustainability.
While the decline in average grades warrants careful economic evaluation, the expanded tonnage and improved geological understanding provide a solid foundation for advancing feasibility studies. The company’s in-house technical capabilities, including sophisticated 3D reactive transport modelling, further underpin confidence in the deposits’ ISR amenability and future production potential.
Bottom Line?
Boss Energy’s resource upgrades and permitting progress set the stage for a pivotal phase in unlocking value from its satellite uranium deposits.
Questions in the middle?
- How will the decline in average uranium grades impact the economic viability of Gould’s Dam and Jason’s Deposit?
- What are the key risks and timelines associated with the permitting process for these satellite projects?
- To what extent can the wide-spaced wellfield ISR approach at Honeymoon be successfully adapted to these deposits?