BPM Minerals eyes economic opportunity after discovering 11 bedrock conductors at Nepean Nickel Mine

A recently completed moving-loop electro-magnetic (MLEM) survey at BPMs’ Nepean Project in Coolgardie, Western Australia has returned 11 bedrock conductors with drilling planned early next week.

The bedrock conductors have been identified in three clusters – the Eastern, Western, and Southern clusters that are interpreted to be the same sequence of ultramafic rocks that host the Nepean Nickel Mine.

Around 32.25-line km’s of MLEM surveying was undertaken by GEM Geophysics Pty Ltd between December 2021 and January 2022 using a slingram configuration.

Electro-Magnetics is a commonly used geophysical technique in nickel sulphide exploration, responsible for the discovery of multiple economic deposits.

BPM Minerals (ASX:BPM) expanded the survey from the initial proposal due to encouraging initial results, with a further week of surveying completed early in the New Year.

Busy exploration period ahead

BPM chief executive officer Chris Swallow said the Nepean project has steadily progressed through early-stage target definition and geochemical drilling to better understand the nickel potential.

“For the MLEM survey to delineate 11 EM plates is a compelling reason for the company to accelerate work over the project,” he said.

“The company has been able to secure a drill rig at short notice and the full support of the board and major shareholders ahead of drilling early next week.”

Swallow added that with Hawkins and Santy being drilled back-to-back in April/May, the addition of these compelling Nepean targets sets BPM up for a busy exploration period.

The different clusters

The Western Cluster is made up of three vertically dipping, north-south striking bed rock conductors associated with a package of mafic-ultramafic rocks, ranging from 200-550 in length and 200m in depth with a conductance of 1,200 siemens.

Five prominent steeply dipping north-south striking bedrock conductors make up with Eastern Cluster that sit within a regional magnetic low.

The conductors in the Eastern Cluster range from 350-700m in length, 300-400m in depth and have a conductance of 250-800 siemens.

With the Southern Cluster, three steeply dipping north-south conducts are regionally associated with a package of ultra-mafic rocks with a conductance of 2,000 – 2,500 siemens.

Next on the agenda

With much of the prospective mafic-ultramafic stratigraphy concealed beneath cover, BPM’s nickel exploration will be driven by geophysics and drilling.

In preparation, a 3,000 metre (60-hole) aircore drilling program will test the surface projection position of the conductors, as a means to provide geological and geochemical context for RC/diamond drill testing.

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.