3000m drill drive underway on priority targets at BPM’s Santy Gold Project
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BPM Minerals has started a 3000m aircore drill program at its newly granted Santy Gold Project in WA’s Murchison goldfields, where rock chips grading more than 100g/t have presented intriguing prospects.
As much as 21 of the 61 holes in the BPM Minerals (ASX:BPM) program will cover the priority Coastal Target along with the main Santy Gold Project, from where that 100.6g/t rock chip sample was taken.
While surface rock chips are not a direct indicator of primary gold mineralisation, the geology of the project is promising, with several major faults identified along the project’s 663km2 expanse including at Santy.
Drilling will take three weeks with assay results to follow.
An interpreted anticline, a fold that often hosts gold bearing structures, extends north-eastward into the Santy project area from Tallering Peak and is interpreted to plunge to the north, while there are ultramafic and magnetic targets, including a 2.8km long magnetic high located on the contact between the greenstone belt to the south and the granite-gneiss terrain to the north.
That makes it highly prospective not just for gold but aircore holes also intersected highly anomalous nickel, copper, cobalt, and chromium.
A historic result struck 72m @ 241ppm Cu and 131ppm Zn with sulphide mineralisation identified in end-of-hole samples, but drilling targets have had to be generated from magnetic surveys with as much as 80% of the project under transported cover.
That relatively little drilling has been completed at Santy is a bit of a surprise given many of the rock chip samples taken at the project have contained visible gold and are along strike from Adaman Resources’ high grade Snake Well gold project.
All the merrier for BPM, which is also waiting on assays from a 838-sample soil geochemistry program completed in early July.
Santy boasts at least 17 walk-up drill targets, with around $1.6 million budgeted on exploration over its first two years following BPM’s ASX listing in January.
This article was developed in collaboration with BPM Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.