BPM Minerals (ASX: BPM)
Announced the assay results from the recently completed 84-hole, 3,647m aircore drilling program at the Claw Gold Project in Western Australia, that was targeting extensions of known mineralisation along an 8km highly prospective corridor.
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| BPM Minerals | ASX: BPM |
| Stage | Exploration |
| Metals | Gold |
| Market Cap | A$2.44 m @ A$ 2.8c |
| Location | Western Australia |
| Website | www.bpmminerals.com |
Comment
These results are disappointing and proven that nearology doesn’t always work.
As a Capricorn Metals shareholder I held BPM in case they proved the continuation of the gold zone onto their property.
I sold my BPM shares when the company did a financing and excluded uk based shareholders. I wrote to enquire why UK investors were excluded, and they didn’t afford me the courtesy of a reply, which I consoder unporfessional.
That was a bit of serendipity because the shares have fallen since by some margin.
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BPM Minerals Exploration Update – Claw Gold Project, WA
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BPM Minerals Ltd (ASX: BPM) (‘BPM’ or ‘the Company’) is pleased to announce the assay results from the recently completed 84-hole, 3,647m aircore drilling program at the Claw Gold Project in Western Australia, that was targeting extensions of known mineralisation along an 8km highly prospective corridor.
• Phase 4 Aircore Drilling Results: Key intercepts from the recently completed program include:
• CAC251: 2m @ 0.36 g/t Au (from 42m)
• CAC239: 1m @ 0.18 g/t Au (from 45m)
• Significant High-Grade Results to Date (previously reported) at Claw1
• 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)
• Strategic Location in Proven Gold Corridor: Claw Project lies immediately south of Capricorn Metals’ (ASX: CMM) 3.99Moz Mount Gibson Gold Project.
• Upcoming Catalysts: Additional 20km of strike potential to be unlocked with imminent granting of new exploration tenure, with soil sampling programs planned upon granting.
• BPM New Projects, Cash and Structure
• The company is currently reviewing new project opportunities in the precious metal space.
• The company is well funded with ~$2m cash and 87.3m shares on issue.
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Commenting on the drilling BPM CEO Oliver Judd:
“This latest round of drilling delivered some anomalous gold intercepts, but a major discovery remains ahead of us. Our focus is now securing the granting of new tenure, which will unlock more than 20km of highly prospective strike at the Claw Gold Project.
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“The strategic location of Claw, sharing a tenement boundary with Capricorn Metals’ (ASX: CMM) 3.99Moz Mount Gibson Gold Project, underscores its immense potential and scale of the opportunity.
“The Company holds a significant amount of underexplored strike with the potential to host an economic gold deposit, we look forward to getting started with the regional soil sampling programs with the imminent granting of new tenements.”
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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 no shares in BPM MInerals
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