BOA Resources (ASX:BOA) is advancing its drill planning for 2025, targeting lithium and nickel exploration across core tenements in Western Australia. The company plans to drill Bald Hill East and Cat Camp tenements, pending heritage approvals, and Fraser South, awaiting final approval of the Conservation Management Plan. Delays in heritage surveys have pushed drilling timelines to later in 2025. A key focus remains on Bald Hill East, located 2kms from the Bald Hill lithium mine, aiming to extend the mineralized zone. In the Fraser Range, drilling at the Snowys Prospect on the Fraser South tenement targets potential Nova or Andromeda-style mineralisation.
BOA is actively reviewing its tenement holdings, relinquishing Koongulla South and Koongulla East due to high exploration costs and difficulty in securing partners. Management of Transline North and Transline South tenements has reverted from IGO Limited back to BOA, with BOA evaluating IGO’s prior work. IGO will continue to operate the Symons Hill tenement. The company held $1.07 million in cash with no debt at the end of the quarter. According to the company, this realignment and focus on core assets represents a strategic initiative to maximize high-potential opportunities and streamline capital allocation and is part of a broader strategy to ensure capital is deployed to its highest value uses. Management is maintaining tight control on administration and personnel costs, recognizing the challenging environment for junior explorers. The company’s top shareholder is IGO Limited with 5.07% holding.
