BPM Minerals pencils in January date for gold drilling at Claw
Special Report: BPM Minerals has received the green light – in the form of a completed heritage survey – to start aircore and reverse circulation drilling at its Claw gold project in WA’s Murchison-Midwest region.
The lightly-explored 134km2 Claw project is immediately along strike from Capricorn Metals’ (ASX:CMM) 3.24Moz Mt Gibson gold project and is interpreted to host a southern extension of the Mt Gibson shear zone that hosts the Mt Gibson Gold Mine, which produced gold from a modest laterite resource between 1986 and 1999.
For BPM Minerals (ASX:BPM), the fact the Mt Gibson resources are the result of CMM’s activities which have steadily crept to within 500m of Claw’s northern boundary make the 33km of prospective strike look truly tasty.
With the completion of the heritage survey and Program of Work (PoW) granted in November, BPM has now secured a drill contractor to start drilling in late January.
The ~10,000m aircore and RC drill program will test the Louie and Chickie prospects, as well as regional structural targets.
Louie is a 1,200m by 400m gold-in-regolith anomaly located on the northern tenement boundary just 500m from CMM’s recent exploration/resources drilling, while Chickie is a 1,000m long gold in regolith anomaly with multiple holes finishing in mineralisation.
Meanwhile, the regional structural targets were identified by Dr Barry Murphy using automated edge detection “worming” to highlight gradients in the geophysical data to identify long-lived, deep-seated fault structures as potential fluid pathways for gold mineralising fluids and final trap sites.
BPM chief executive officer Oliver Judd said he was very pleased to have completed the final piece of permitting at the Claw project.
“We’d like to thank the Badimia group for competing the survey so late in the year,” he said.
“Claw is an exciting, drill-ready greenfields project, immediately along strike from one of Western Australia’s next major gold mines. Supported by our strong >$3m cash position and with an $3,000/oz gold price, BPM is well position to make a new gold discovery in a revitalised gold camp.”
BPM expects Badimia to present its final report and drill approval in early January, with site preparations to begin soon after.
This will lead to drilling beginning in late January 2024.
Results from soil sampling within freehold land are also expected next month, while initial drill assays are likely to be received from March.
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.