Eclipse Metals Ltd (ASX: EPM) has announced a significant strategic alliance with Boss Energy Limited (ASX: BOE) to develop the Liverpool Uranium Project in the Northern Territory’s Alligator Rivers Uranium Field.
The binding option and earn-in agreement grants Boss Energy the opportunity to acquire up to an 80 per cent interest in the project, with potential for further expansion.
Under the terms of the agreement, Boss Energy will commit $250,000 to exploration during an initial 12-month option period.
Following this, Boss can earn up to an 80 per cent interest by investing $8 million in exploration funding over seven years.
The deal includes a minimum spend requirement of $1.5 million before Boss can withdraw from the agreement.
The partnership will see the formation of an unincorporated joint venture between the two companies to explore and develop the project.
Upon successful completion of the earn-in, Boss Energy will have the option to purchase an additional 10 per cent interest for $50 million, potentially increasing its stake to 90 per cent.
Eclipse Metals Executive Chairman Carl Popal expressed enthusiasm about the partnership, stating: “Boss Energy as a uranium producer will accelerate our exploration efforts, bringing us closer to unlocking the full potential of this highly prospective region.”
The Liverpool Uranium Project encompasses five exploration licences covering 1,229 square kilometres.
The Devil’s Elbow prospect within the project area has shown promising results, with surface uranium assays reaching up to 5.8 per cent triuranium octoxide (U₃O₈), along with significant gold and palladium mineralisation.
This strategic alliance allows Eclipse Metals to enhance shareholder value while focusing on its rare earth assets in Greenland and other critical mineral opportunities.
Meanwhile, Boss Energy brings its expertise in uranium exploration and production to accelerate the project’s development.
The partnership comes at a time of increasing interest in uranium exploration, with the Alligator Rivers Uranium Province known for its high-grade deposits.
The region hosts several significant uranium resources, including the Jabiluka deposit with 349 million pounds at 5,300 ppm U₃O₈.
As the global demand for clean energy sources continues to grow, this collaboration between Eclipse Metals and Boss Energy positions the Liverpool Uranium Project as a potentially significant contributor to the future of uranium production in Australia.
