BPM Minerals (ASX: BPM)
Announced promising high-grade initial rilling results from the second phase of drilling at the Louie Prospect, part of the Claw Gold Project in WA.
The highlight was 30m @ 1.84 g/t Gold from 25 metres including 5m @7.12 g/t Au from 35m.
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| BPM Minerals | ASX: BPM |
| Stage | Exploration |
| Metals | Gold |
| Market Cap | A$3.35 m @ A$ 0.09c |
| Location | Western Australia |
| Website | www.bpmminerals.com |
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High-Grade Gold Discovery at the Claw Gold Project, WA
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BPM Minerals Ltd (ASX: BPM) (‘BPM’ or ‘the Company’) is pleased to announce promising high-grade initial rilling results from the second phase of drilling at the Louie Prospect, part of the Claw Gold Project in WA.
The highlight was 30m @ 1.84 g/t Gold from 25 metres including 5m @7.12 g/t Au from 35m.
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Highlights
• Initial aircore drilling assay results have returned the following high-grade intercept from the Louie Prospect:
• CAC186 – 30m @ 1.84g/t Au (from 25m) including 5m @ 7.12 g/t Au (from 35m)
• Louie is located immediately south along strike of Capricorn Metals’ (ASX: CMM) 3.24Moz Mount Gibson Gold Project, providing BPM with an exceptional opportunity to explore within a proven gold corridor.
• The drilling program is focused on testing the 1km long, 100ppb gold in regolith anomaly, identified during Phase 1 drilling earlier this year. This anomaly shares similar geology to the gold mineralisation found to the north at the Mount Gibson Gold Project.
• 6 RC holes have been completed that targeted the downdip extent of existing aircore regolith anomalies. Results are awaited.
• Additional aircore drilling is presently underway on 100m infill traverses to better define the substantial gold in regolith anomaly defined to date.
• Planning for Phase 3 follow up RC drilling has commenced.
• Option issue Prospectus to be issued in the next few weeks.
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The Claw Gold Project consists of 33km of highly prospective strike, immediately south along strike of $2.2 billion Capricorn Metals Ltd.’s (ASX:CMM) 3.24Moz Mount Gibson Gold Project (MGGP)
. The MGGP is set to become one of West Australia’s next major gold mines underpinned by a ~5mtpa processing plant with planned production of ~150koz p.a.
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Commenting on the drilling BPM CEO Oliver Judd:
“We’re delighted to have received exceptional results from Louie in this second round of drilling at the Claw Gold Project.
“This is shaping as a highly promising greenfields discovery in one of Western Australia’s most prospective gold corridors. We are in a heavily endowed environment at Mt Gibson, immediately along strike rom WA’s next gold mine in a ‘gold bull market.
“With additional drilling nearly complete, we are eager to further delineate the high-grade core of this 1km regolith anomaly. The upcoming assays, due within the
month, will guide us toward deeper RC drilling.
“This is the beginning, and investors can expect a steady stream of updates as we continue to explore what could turn into a game-changing discovery with clear strategic
potential in relation to Mount Gibson.”
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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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