BPM probes indicate broad, shallow lead-zinc at Hawkins
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Initial drilling has uncovered broad zones of shallow, lead-zinc mineralisation at BPM’s flagship Hawkins project in Western Australia’s Earaheedy Basin.
Portable XRF analysis, which provides a good indicator of what’s present ahead of more reliable lab analysis, found that the 26 reverse circulation and 12 aircore drill holes had intersected mineralisation at depths of 40m to 100m within the prospective Fere-Yelma unconformity across five key areas of interest.
The shallow nature of the mineralisation is certainly encouraging for BPM Minerals (ASX:BPM) as it augers well for future development whilst comparing very favourably with other lead-zinc discoveries in the Earaheedy, which are generally a fair bit deeper.
Special attention was paid to the Pinnacles prospect where historical drilling had returned a 2m intercept grading 0.25% zinc and 0.31% lead and mapping had identified a large northeast trending anticlinal fold consisting of Frere Iron Formation unconformably overlying Navajoh Dolomite.
XRF analysis of the four RC holes drilled at the prospect highlighted the zone as highly anomalous in zinc, lead, copper, barium and manganese while traces of galena (a lead mineral), sphalerite (zinc) and barite (barium) were noted within fresh silicified Yelma Dolomite.
Of course, it is still too early to tell if the drilling has intersected economic mineralisation but the results to date are at least a strong sign that the company is on the right track.
Follow-up drilling will be determined following the receipt of final assays.
BPM is also well on its way towards starting exploration at the Claw gold project which directly abuts Capricorn Metals’ 2.1Moz Mt Gibson gold deposit where an 81,000m resource definition drill program is currently underway.
The company has signed final access agreements with landowners and expects the tenement to be granted in early August.
Separately, it has started earthworks and heritage surveys at the Santy gold project ahead of a 4,000m aircore and reverse circulation drill program which is expected to start in mid-August.
This program will test the highest priority targets identified by the Phase 1 aircore drill program, which outlined a 2.2km long gold anomalous zone.
BPM is well funded for its exploration with $6m in cash as of 30 June.
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.