BPM Minerals (ASX: BPM)
Announced final assay results from the second round of drilling at the Louie Gold Discovery within the Claw Project in Western Australia.
Significant assay results include: CAC186 – 25m @ 1.27 g/t Au (from 29m) including 2m @ 11.63 g/t Au (from 29m).
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| BPM Minerals | ASX: BPM |
| Stage | Exploration |
| Metals | Gold |
| Market Cap | A$5.6 m @ A$ 8c |
| Location | Western Australia |
| Website | www.bpmminerals.com |
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BPM MInerals Further Assay Results Extend the Louie Gold Discovery
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BPM Minerals Ltd (ASX: BPM) (‘BPM’ or ‘the Company’) is pleased to announce final assay results from the second round of drilling at the Louie Gold Discovery within the Claw Project in Western Australia.
• Significant assay results include:
• CAC186 – 25m @ 1.27 g/t Au (from 29m) including 2m @ 11.63 g/t Au (from 29m)
• CAC223 – 10m @ 1.12 g/t Au (from 50m)
• CRC010 – 8m @ 0.95 g/t Au (from 94m) including 4m @ 1.64 g/t Au (from 97m)
• CAC213 – 3m @ 2.46g/t Au (from 45m)
• CAC194 – 7m @ 0.83 g/t Au (from 41m) inc. 3m @ 1.45 g/t Au (from 41m)
• Assay results define a 600m high-grade core at Louie consisting of multiple >1g/t Au assays including holes finishing in mineralisation lying within a 1,000m long, >100ppb Au gold in regolith anomaly.
• Planning for a 2,500m RC drilling program at Louie is underway, targeting the high-grade gold mineralisation at depth.
• Louie is located immediately south along strike of Capricorn Metals’ (ASX: CMM) 3.24Moz @ 0.8 g/t Mount Gibson Gold Project , giving BPM a prime opportunity within a proven gold corridor.
• Louie lies on the northern end of an ~8km long, highly prospective corridor that extends south to the Chickie Prospect. BPM intends to aggressively explore this underexplored corridor with aircore drilling planned for 2025.
• An additional 20km’s of prospective strike to be unlocked through fast-tracking of a new tenement application followed by aero-magnetic and soil sampling programs.
• A recent $1.675m placement was completed to drive exploration at the project.
Fig. 1 – MGGP-Claw Project Schematic Long-Section
Commenting on the drilling BPM CEO Oliver Judd:
“We are excited about the final assay results from our second round of air core drilling at the Louie greenfields gold discovery.
“Multiple holes have delivered over 1 g/t Au results, and several finishing in mineralisation near the standout discovery hole CAC186 – exactly what we wanted to see.
“We’re gearing up to test this discovery at depth with RC holes later this year. We are in a well-endowed gold environment lying immediately along strike from Mount Gibson, WA’s next gold mine in a ‘gold bull market’.
“Mt Gibson’s a 0.8 g/t resource so we’re highly encouraged to see multiple comparable intercepts in this early-stage drilling.
“”Environmental and heritage surveys are already underway or scheduled for the regional Aircore program, where we have ~20km of untested strike to explore, a rarity in the WA gold space.
“We’re fully funded after the recent $1.675m placement allowing us to aggressively explore the project. Investors can expect a steady stream of updates over the year as we advance the Louie Discovery and the broader project, which we believe has the potential to host multiple gold deposits.”
The Louie Prospect is located on the northern border of the Claw Project area immediately south along strike of a series of significant gold resources (Sheldon-Deep South-Gunslinger) and the recent high-grade Sundance gold discovery (16m @ 17.16 g/t and 15m @ 18.56 g/t Au3,7) made earlier in 2024. These gold deposits make up
the current southern extent of CMM’s MGGP.
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To read the full news release please click HERE
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The live Spot gold price can be found HERE
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Disclosure
At the time of writing the author holds shares in BPM MInerals
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