BOA Resources Kicks Off 5,500m Drilling Campaign Targeting First Copper Resource
In a project-level announcement on 5 August 2026, BOA Resources (ASX: BOA) has commenced its maiden drilling program at the Neds Creek Copper Project in Western Australia’s Murchison region. The first reverse circulation (RC) rig is now operating at the priority Ricci Lee copper prospect, where the company is undertaking approximately 5,500m of RC drilling across 38 holes. This marks the transition from planning to active exploration, with initial assay results expected from September 2026.
BOA kicks off maiden drilling at Ricci Lee copper prospect in WA’s Murchison
BOA’s immediate objective at Ricci Lee is to complete a resource-definition drilling campaign designed to infill the known mineralised structure, test extensions along strike and at depth, and provide sufficient geological and assay data to support a maiden Mineral Resource estimate, subject to results. The program is the first phase of a substantial 2026 exploration campaign totalling 7,500m of RC drilling and 7,500m of aircore drilling across multiple priority copper prospects.
A second drill rig is scheduled to mobilise to site mid-August 2026, allowing BOA to advance drilling at Ricci Lee concurrently with aircore programs across Rooneys and four additional targets. The company has stated it is funded to complete its planned 2026 drilling and exploration program, providing investors with near-term newsflow and assay-driven catalysts through the second half of 2026.
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Why Ricci Lee is BOA’s highest-priority copper target
Ricci Lee is an advanced copper prospect hosted within Thaduna Formation sediments, approximately 2km southwest of the Thaduna Copper Deposit, which BOA is acquiring subject to completion through its Core Value Australia NL transaction. The prospect comprises an approximately 500m-long mineralised structure defined by historical workings, shallow rotary air blast (RAB) drilling, and eight RC drill holes. Mineralisation remains open to the north, south and at depth.
Ricci Lee is interpreted as a geological analogue of the nearby Thaduna Copper Deposit, being located in the same favourable stratigraphic and structural setting. This proximity and geological continuity underpin BOA’s confidence in the prospect’s potential to support a standalone resource estimate.
Historical high-grade copper intersections
Historical drilling at Ricci Lee has demonstrated high-grade copper mineralisation, including chalcopyrite and bornite sulphides logged in fresh rock at approximately 200m vertical depth. The following intersections are historical results and have not been verified by BOA through its own drilling:
| Drill Hole | Intersection | Copper Grade | Notes |
|---|---|---|---|
| THC035 | 5m | 3.48% Cu | Upper structure, ~200m depth |
| THC035 | 10m | 5.12% Cu | Lower structure, ~200m depth |
| THC003 | 5m | 6.41% Cu | — |
| THC001 | — | 4.02% Cu | — |
| THC039 | 7m | 3.41% Cu | — |
| THC038 | 6m | 2.70% Cu | — |
These historical results demonstrate both high-grade copper mineralisation and the presence of multiple mineralised structures at depth, supporting BOA’s decision to prioritise Ricci Lee for resource-definition drilling.
What the drilling is designed to achieve
BOA’s current program at Ricci Lee is structured to systematically test the geometry, continuity and extensions of the known mineralised system. The objectives are:
- Infill the existing drill pattern across the known mineralised structure
- Confirm the geometry, thickness and continuity of mineralisation
- Test extensions to the north and south along strike
- Test the mineralised system below the depth of historical drilling
- Collect geological and assay data required for geological modelling
- Provide sufficient drill density to support a maiden Mineral Resource estimate, subject to results
A maiden Mineral Resource estimate is a formally defined JORC 2012-compliant tonnage and grade figure derived from drilling data. For explorers, reaching this milestone represents a key value-inflection point, as it converts drilling results into a quantifiable copper inventory that investors and analysts can model into development scenarios. The estimate must meet strict geological confidence criteria, typically requiring systematic drilling on a defined grid with sufficient density to support classification into Inferred, Indicated or Measured categories.
Second rig and the broader Neds Creek campaign
BOA’s dual-rig approach is designed to accelerate exploration across the broader Neds Creek project while maintaining focus on the Ricci Lee resource-definition campaign. The second rig, scheduled to arrive mid-August 2026, will commence aircore drilling across five additional priority targets, allowing BOA to advance multiple workstreams concurrently.
Priority targets across the portfolio
Beyond Ricci Lee, BOA’s 2026 drilling campaign will test the following prospects:
- Rooneys — positioned approximately 3.5km west of Green Dragon within an east-west structural corridor. Historical RAB drilling returned 14m @ 3.87% Cu, with later RC drilling intersecting 7m @ 3.99% Cu (historical results).
- Blockley, Mueller, Ward and Limestone Bore — additional priority targets where aircore drilling will test strike and structural extensions.
Aircore drilling is planned to test bedrock targets and structural extensions around each prospect, with RC drilling focused on defined high-priority zones. This portfolio approach provides BOA with multiple shots on goal across the Neds Creek landholding, reducing reliance on any single prospect and increasing the probability of discovery.
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The Neds Creek copper strategy and what’s next
Neds Creek is BOA’s principal strategic focus. The company has entered into agreements to acquire 100% of Core Value Australia NL and, through that transaction, consolidate ownership of the broader Neds Creek Copper Project and acquire the Thaduna and Green Dragon copper deposits from Sandfire Resources Limited. Completion remains subject to satisfaction or waiver of conditions precedent.
Thaduna and Green Dragon contain a combined JORC 2012 Mineral Resource estimate of 5.3Mt @ 2.3% Cu for 121kt of contained copper. This resource belongs to the Thaduna and Green Dragon deposits being acquired, not to Ricci Lee, which currently has no defined resource.
BOA’s strategy is to grow its copper inventory toward economic scale through resource-definition drilling at Ricci Lee, exploration drilling across the broader target portfolio, and disciplined evaluation of potential development pathways across the consolidated copper holdings.
Upcoming catalysts and timeline
Near-term milestones investors should watch include:
- Complete the Ricci Lee resource-definition program
- Mobilise and commission the second rig (mid-August 2026)
- Progress drilling across Rooneys and other priority prospects
- Submit drill samples progressively for laboratory analysis
- First assay results expected from September 2026, subject to laboratory turnaround times
- Integrate drilling results into the Neds Creek geological model
- Assess whether Ricci Lee results support preparation of a maiden Mineral Resource estimate
Managing Director Graeme Purcell
“Ricci Lee is an advanced copper prospect with a compelling combination of historical high-grade intersections, demonstrated mineralised continuity and meaningful potential along strike and at depth. Our immediate objective is to complete the drilling required to test that potential and, subject to results, support a maiden Mineral Resource estimate. The planned mobilisation of a second rig will allow us to accelerate the broader Neds Creek program while the resource-definition campaign continues at Ricci Lee. This is the beginning of a substantial exploration campaign across Neds Creek. BOA is funded for the planned program, and we look forward to providing shareholders with regular operational updates and assay results as the drilling progresses.”
For investors, the funded status of the program and the structured assay release schedule from September 2026 provide a clear near-term catalyst calendar. The dual-rig approach accelerates data generation across multiple prospects, while the Ricci Lee campaign targets a defined milestone — a maiden resource estimate — that would represent a material step-change in the company’s valuation framework.
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