BPM’s +1km gold anomaly at the Louie prospect, within its Claw project, is along strike of Capricorn’s Sundance gold discovery. Pic via Getty Images
Mining
Special Report: Aircore drilling at BPM Minerals’ Claw gold project in WA’s Murchison region has defined a coherent +1km long, +100ppb gold in regolith anomaly at the Louie prospect that appears to be a supergene halo.
This is hugely encouraging as supergene halos that are horizontally dispersed above the zone of primary mineralisation within the underlying fresh rock is a classic geological model for gold projects in this area.
BPM Minerals’ (ASX:BPM) Claw project is also immediately along strike from Capricorn Metals (ASX:CMM) 3.24Moz Mt Gibson gold project, with the Louie prospect sitting on the tenement boundary just across from CMM’s high-grade 16m @ 17.16g/t gold discovery at Sundance.
Claw had previously been interpreted to host a southern extension of the Mt Gibson shear zone which hosts CMM’s Mt Gibson gold mine, which produced gold from a modest laterite resource between 1986 and 1999.
Assays from recently completed aircore drilling at the Louie prospect returned results such as 25m @ 0.19ppm gold from 30m and 20m @ 0.17ppm gold from 15m that highlighted the coherent +1km gold in regolith anomaly.
This interpreted supergene anomaly is situated over a package of mafic volcanics and volcaniclastic sediments, which are bounded by granites and likely to be the same package of rocks that host gold mineralisation immediately north of the border.
BPM has also completed additional AC holes at Louie to constrain the regolith gold anomaly prior to deeper reverse circulation drill testing of the primary mineralised zone.
“These results are exactly what we were looking for in this first round of AC drilling, delineating a coherent gold in regolith anomaly at Louie,” BPM chief executive Oliver Judd said.
“This 1km long anomaly is directly along strike of a 3.24Moz resource so it has every chance of developing into an economic discovery with deeper RC drilling targeting the underlying primary mineralisation.
“We’ve commenced the permitting process and are aiming to be drilling by mid-year. There’s another 75% of the assay results awaited from some exciting targets including the Chickie Prospect to the south.”
Besides the pending assays, BPM is also progressing the Phase 2 RC drill permit application process.
This includes environmental and heritage surveys scheduled for May, with RC drilling expected to begin mid-year.
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.
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