BPM Minerals is strumming the right notes with its Louie Prospect, part of the Claw project down the road from $2b capped Capricorn Metals’ Mt Gibson gold project. Pic: Getty Images
Mining
Special report: Aircore drilling results at BPM Minerals’ Claw project in WA have delineated a substantial +1km long, +100ppm gold anomaly, immediately along strike from Capricorn Metals’ 3.24Moz Mt Gibson gold project.
BPM Minerals’ (ASX:BPM) newly defined gold in regolith anomaly at the Louie prospect sits on the tenement boundary just across from Capricorn Metals’ (ASX:CMM) high-grade 16m at 17.16 g/t gold discovery at Sundance.
Sundance is part of CMM’s wider Mt Gibson gold project in WA’s Murchison region, which was mothballed +30 years ago when the gold price fell below US$450/oz.
Australian dollar gold prices are now up over $3725/oz, a 20%+ increase YTD, and in touching distance of US$2400/oz, making the pathway towards mine development more feasible.
BPM believes the anomaly has every chance of developing into an economic discovery with deeper reverse circulation drilling targeting the underlying primary mineralisation.
Aircore drill holes were drilled at the end of the recently completed program, adjacent to the previously announced anomalous holes, to help constrain the anomaly for deeper RC drilling.
BPM says these additional holes, as well as the re-sampling and assaying of anomalous composite samples, has further constrained the gold anomaly, confirming a coherent +1,000m long, +100ppb gold in regolith anomaly.
The trend consists of 12 holes containing mineralisation +100ppb, including:
Environmental and heritage surveys have been scheduled for May/June with BPM expecting to be on ground mid-year to undertake the Phase 2 RC drilling program.
“We’re incredibly encouraged by these results from Louie, we have a large coherent gold anomaly that requires testing,” BPM CEO Oliver Judd says.
“This validation fuels our excitement as we embark on designing the next phase of drilling.
“We’re eager to unearth further mineralisation and deepen our understanding of Louie.”
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.
