Phase 2 drilling to commence in July focusing on BPM Minerals’ Louie prospect
Target adjacent to Capricorn Metals’ Mt Gibson gold project
Environmental surveys completed; heritage surveys and final drilling approval expected June/July
Special Report: BPM Minerals is set to spin the drillbit at its Claw project, right next door to Capricorn’s 3.24Moz Mt Gibson project.
BPM Minerals’ (ASX:BPM) Claw project contains a 33km strike length of highly prospective gold mineralisation strategically abutting Capricorn Metals’ (ASX:CMM) Mount Gibson gold project, a major gold resource with a projected output of ~150,000ozpa gold.
BPM has successfully completed environmental surveys at Claw, with heritage surveys scheduled for mid-June.
These surveys, in collaboration with members of the Badimia Native Title Group, are a crucial step toward obtaining the necessary drilling approvals from the Department of Mines, Industry Regulation and Safety (DMIRS).
BPM anticipates receiving these approvals by June or July 2024, paving the way for the commencement of Phase 2 drilling.
Targeting Louie
The newly defined gold in regolith anomaly at the Louie prospect sits on the tenement boundary just across from Capricorn’s recent high-grade 16m @ 17.16 g/t gold intersection at Sundance.
Set to begin in July, the Phase 2 drilling program at the Louie prospect is a key component of BPM’s exploration strategy.
The planned 3000m AC/RC drilling program aims to further investigate the Louie gold anomaly identified during the first phase of drilling earlier this year, which spans >1000m and exhibits significant gold mineralisation in the regolith layer.
Initial drilling at Louie Prospect revealed a coherent gold anomaly with a concentration of >100 parts per billion (ppb) gold. Highlights from this phase include:
1m @ 0.51 parts per million (ppm) gold from 42m at hole CAC002
16m @ 0.31ppm gold from 18m, including 1m @ 1.08ppm gold from 27m at hole CAC014
26m @ 0.18ppm gold from 31m at hole CAC021
These results confirm the presence of a substantial supergene anomaly.
The Louie prospect is located on the northern edge of the Claw project area, adjacent to a series of significant gold resources, including Sheldon, Deep South, Gunslinger, and the high-grade Sundance discovery.
This proximity suggests that the Louie prospect shares the same geological features that host these nearby gold deposits and Phase 2 drilling is expected to provide further insights into the projects’ potential.
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.
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