BOA Resources Hits High-Grade Copper in 20 of 23 Holes as Ricci Lee Grows
Key Takeaways
- BOA hit high-grade copper in 20 of the first 23 Ricci Lee RC holes reported, with 13 new holes added in this release.
- The best intercept is 10m at 3.60% Cu including 6m at 5.57% Cu in 26NCRC032, backed by 11m at 3.20% Cu in 26NCRC029.
- Continuity now spans more than 400m of strike and down dip across three drill sections, and a newly identified parallel Hanging-Wall Lode adds a second target.
- Only 23 of 46 holes have reported, with the remaining assays and five aircore prospects expected through Q4 2026.
- A General Meeting on 12 October 2026 will decide whether BOA lifts its Neds Creek stake from 49% to full ownership.
High-grade copper hits in 20 of 23 Ricci Lee holes reported
Drill results are only useful if they connect, and the latest batch from BOA Resources (ASX: BOA) suggests they might. The company reported further assays from its maiden Ricci Lee drill program at the Neds Creek Copper Project in Western Australia, and the Ricci Lee copper results now show high-grade intersections in 20 of the first 23 RC holes reported.
This release adds 13 new holes, taking the total reported to 23 of 46 holes drilled at the prospect. RC (reverse circulation) drilling uses a hammer to produce rock chips that are sampled and sent to a laboratory for assay.
Headline intercepts
All widths below are down-hole widths. True widths are not yet known.
- 10m at 3.60% Cu from 31m, including 6m at 5.57% Cu (26NCRC032)
- 22m at 1.74% Cu from 104m, including 10m at 2.81% Cu (26NCRC013)
- 11m at 1.83% Cu from 66m, including 5m at 3.53% Cu (26NCRC012)
- 11m at 3.20% Cu from 1m, including 6m at 5.53% Cu (26NCRC029)
BOA said the results demonstrate continuity over more than 400m strike and down dip across multiple drill sections. For you as an investor, continuity matters because it points towards a connected system rather than a handful of isolated hits.
Graeme Purcell, Managing Director
“These latest results materially strengthen our understanding of Ricci Lee and provide further evidence of a substantial high-grade copper system… all support our objective of building a significant inventory of copper sources and delivering a maiden Mineral Resource at Ricci Lee.”
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Continuity across three drill sections
BOA presented three cross sections through Ricci Lee (7174000N, 7173840N and 7173680N). Each tells a slightly different part of the story.
Main Lode strengthens
On section 7174000N, hole 26NCRC013’s lower zone shows continuity with 26NCRC023, which returned 22m at 3.05% Cu, including 9m at 6.86% Cu, 125m down dip (previously announced on 28 September 2026). BOA noted the 26NCRC013 intersection compares favourably with historic hole THC002 on grade and width.
Section 7173840N shows all four reported holes with good continuity from surface hole 26NCRC029 through to 26NCRC008, 150m down dip. Hole 26NCRC008 returned 8m at 1.57% Cu, including 2m at 4.08% Cu, compared with 5m at 0.72% Cu in historic hole THC036.
On section 7173680N, hole 26NCRC032 intersected its high-grade zone just below the base of complete oxidation. Holes 26NCRC003 and 004, previously announced, returned a similar grade tenor and width.
Emerging Hanging-Wall Lode and shallow mineralisation
In the northern part of Ricci Lee, 26NCRC012 and 26NCRC013 confirm the position of a newly identified, parallel Hanging-Wall Lode. Hole 26NCRC013 returned 24m at 1.05% Cu from 17m, including 4m at 3.40% Cu.
The announcement also describes a broad supergene oxide zone connecting the surface expression of the main structure and the Hanging-Wall Lode. Supergene oxide mineralisation forms near surface where weathering alters and concentrates copper.
Shallow results include hole 26NCRC031, which returned 35m at 1.15% Cu from surface. Broad, shallow mineralisation is the kind of result that can matter to a future resource, though BOA has not provided a timeline for one.
Key Ricci Lee intersections from Table 1
The table below reproduces selected significant intersections as reported by BOA.
| Hole ID | From (m) | To (m) | Width (m) | Cu % |
|---|---|---|---|---|
| 26NCRC032 | 31 | 41 | 10 | 3.60 |
| 26NCRC032 (incl.) | 32 | 38 | 6 | 5.57 |
| 26NCRC013 | 104 | 126 | 22 | 1.74 |
| 26NCRC013 (incl.) | 112 | 122 | 10 | 2.81 |
| 26NCRC013 | 17 | 41 | 24 | 1.05 |
| 26NCRC012 | 66 | 77 | 11 | 1.83 |
| 26NCRC029 | 1 | 12 | 11 | 3.20 |
| 26NCRC031 | 0 | 35 | 35 | 1.15 |
Significant intercepts are a minimum 2m down-hole length reported above 0.2% Cu. Included high-grade intersections are above 1% Cu, internal dilution is a maximum of 2m, and grades are uncut.
Why Ricci Lee’s emerging high-grade domain matters
Understanding copper drilling and continuity
Before a company can estimate a Mineral Resource (a formal estimate of the mineralisation in the ground), it needs to show that mineralisation is continuous along strike (the horizontal direction of the structure) and down dip (the direction it slopes into the ground). Assays are the laboratory measurements that confirm how much copper each sample contains.
BOA said the 23 holes reported so far provide further evidence the prospect may contain a significant high-grade copper domain, rather than a series of scattered, narrow mineralised zones. That is the company’s interpretation, and it will continue to develop as the remaining results arrive.
The plunge of the Main structure, meaning the direction in which the high-grade zone tilts, will become clearer as more results are reported. BOA said this will guide future drilling as the structure is tested at depth.
Investment thesis
Only half of the Ricci Lee assay results have been received, so more data is still to come. That cuts both ways: the pending holes could extend the picture or complicate it.
Neds Creek is a basin-scale project covering 1,378km² in the Capricorn Orogen, which also hosts the DeGrussa, Monty and Horseshoe Lights copper-gold deposits.
BOA currently owns a 49% interest in Neds Creek and is the operator. Subject to shareholder approval at a General Meeting to be held on 12 October 2026, BOA proposes to acquire the remaining 51% of Neds Creek and 100% of the Thaduna and Green Dragon copper deposits.
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Next steps and news flow
The announcement outlines the following pipeline:
- Assays remain pending for 23 RC holes at Ricci Lee.
- AC (aircore) drilling results are pending from five additional Neds Creek prospects.
- The completed Neds Creek program comprised 138 holes for 13,086m.
- BOA expects substantial assay news flow through Q4 2026.
- A comparable long section for the Hanging-Wall Lode will be developed as additional results become available.
- Hole 26NCRC038 was abandoned due to poor ground conditions and will be completed in a future program.
BOA’s stated objective is delivering a maiden Mineral Resource at Ricci Lee. The announcement does not disclose a timeline for that outcome.
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