Highlights

  • BOA completed its maiden 46-hole Reverse Circulation Drilling programme at Ricci Lee.
  • Hole 26NCRC043 intersected 23 metres at 2.65% copper and 7.4 g/t silver from 173 metres.
  • Hole 26NCRC046 returned 7 metres at 3.90% copper from 244 metres.
  • The company interprets multiple copper-bearing lodes, with further drilling needed to establish their extent.
  • Follow-up drilling at Ricci Lee and Rooneys is planned, supported by a reported AUD 9.2 million Capital raising.

BOA Resources Limited explores for copper, nickel and lithium across Western Australia, with the Neds Creek Copper Project in the Murchison region forming its principal copper focus. On 4 November 2026, BOA Resources Limited (ASX:BOA) reported the final assays from its maiden reverse circulation drilling programme at Ricci Lee. The results provide further detail on copper grades and the interpreted mineralised structures, while leaving questions about deposit dimensions and economic viability for subsequent work.

Final Ricci Lee Assays Extend the Drill Dataset

The completed programme comprised 46 reverse circulation holes. One of the more substantial results came from hole 26NCRC043, which returned 23 metres at 2.65% copper and 7.4 grams per tonne silver from 173 metres. Within that interval, a six-metre section from 174 metres graded 6.91% copper and 19.4 grams per tonne silver. The same hole also intersected seven metres at 2.33% copper from 150 metres, including five metres at 3.13% copper.

BOA Resources Limited (ASX:BOA) also reported seven metres at 3.90% copper and 9.1 grams per tonne silver from 244 metres in hole 26NCRC046, including four metres at 6.40% copper. A separate eight-metre interval in that hole returned 2.33% copper from 254 metres. These results add depth information to the drilling record rather than establishing a mineral resource on their own.

Other reported intersections included 14 metres at 2.02% copper from 129 metres in hole 26NCRC039 and 10 metres at 1.77% copper from 29 metres in 26NCRC040. Hole 26NCRC045 returned 10 metres at 1.05% copper from two metres. The reported intervals are downhole lengths; true widths remain unconfirmed.

Geological Interpretation and Resource Questions

Ricci Lee lies within the Thaduna Formation in the Yerrida Basin. BOA Resources Limited (ASX:BOA) describes the copper mineralisation as hydrothermal and fault-hosted, associated with brittle structures and alteration. The company has interpreted a Main Lode, a parallel Hanging-Wall Lode and several splays. Its interpretation also identifies a moderately north-plunging higher-grade shoot in the Main Lode that remains open at depth.

These interpretations help identify where additional holes could test continuity, but geological modelling remains dependent on further drilling. Although the nearby Thaduna copper deposit provides regional context, its scale cannot be assumed for Ricci Lee. No mineral resource estimate has been established at Ricci Lee, and neither the reported grades nor the comparison with neighbouring deposits determines whether extraction would be economic.

The company reported significant intersections using a 0.2% copper cut-off, a minimum two-metre interval and up to two metres of internal dilution. BOA Resources Limited (ASX:BOA) said the holes were oriented to intersect the known strike at a high angle, but this does not resolve the outstanding true-width uncertainty.

Next Drilling Priorities at Neds Creek

BOA Resources Limited (ASX:BOA) plans additional reverse circulation and diamond drilling to test extensions of the Main Lode shoot, the Hanging-Wall Lode and other interpreted structures. The company indicated that drilling could resume in November 2026 and continue into 2027, subject to rig availability. The proposed work is intended to improve understanding of the geometry and continuity of copper mineralisation.

The broader Neds Creek programme also includes the Rooneys prospect. BOA reported that aircore drilling had extended the mineralised trend there beyond 500 metres, with one intersection of 16 metres at 2.47% copper. Additional aircore assays from four other Neds Creek prospects were pending. A reported AUD 9.2 million capital raising provides funding context, although future programme scope and timing remain subject to operational requirements.

Key Insights

The final Ricci Lee assays give BOA Resources Limited (ASX:BOA) a fuller dataset from its first drilling campaign and identify several zones warranting follow-up. High copper grades in individual intervals are notable exploration results, but true widths, structural continuity and the size of any potentially economic deposit remain unresolved. Further drilling and geological assessment will be central to determining whether the interpreted lodes can support a resource estimate.