New Neighbours: BPM locks up prime real estate to explore for extensions of 2.1Moz Mt Gibson gold mine
BPM Minerals has been confirmed as the owner of some of the most exciting exploration ground in WA’s bountiful Murchison gold field, after it was granted the Claw gold project.
Located 290km north of Perth, Claw is located immediately next to Capricorn Metals’ 2.1Moz Mt Gibson gold project, with early exploration activities already completed along a highly prospective 33km long structural corridor at the site.
Claw has seen a little shallow RAB and aircore drilling returning oxide gold hits in the past.
But as a large and untested extension of the Mt Gibson greenstone belt it remains severely under explored, with recent resource definition drilling by $1.3 billion capped ASX 200 gold miner Capricorn delivering a hit of 34m at 2.93g/t at Deep South, just 1.5km north of the Claw boundary.
BPM (ASX:BPM) is not looking to stand still and count its chickens at Claw, with moves bow afoot to consolidate a large position in the Murchison.
More applications have been made to expand its tenement holding around Mt Gibson and secure new projects in the area.
With $5m in the bank, BPM is well stocked to carry out due diligence on projects around the area and it has applied for E70/6176, an exploration licence containing 30 blocks directly next to the Claw tenement.
“The Company believes the area around the Mt Gibson Gold Mine holds immense discovery potential with limited or no modern exploration having being conducted over the Claw Project and the new application with a number of shallow gold hits recorded within the project area close to the Mt Gibson Border,” BPM said.
Among the early exploration works already completed by BPM is the acquisition of a 3472 line kilometre aeromagnetic survey interpreted by exploration expert Dr Barry Murphy.
Several targets have been delineated from the survey, which was used to create a structural and geological interpretation focused on identifying long, deep seated fault structures as potential fluid pathways for gold mineralising fluids.
Two major anomalies have already been identified, including the Chickie anomaly, a 1000m by 500m gold in regolith anomaly with several shallow RAB holes intersecting gold mineralisation.
The fresh rock, generally the primary source of gold mineralisation, was never tested below this anomaly.
The 1200 by 400m gold in regolith Lewi anomaly has also been identified, open towards the direction of the Mt Gibson gold project.
Both are associated with the same regional structure that feeds the 2.1Moz gold mine, something that can be traced for 33km but has only been tested so far at Lewi and Chickie.
BPM is planning to complete soil sampling geochem surveys, further mapping and target delineation ahead of initial drilling programs and first pass aircore and RC drilling on priority targets.
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.