Aircore drilling in the Earaheedy near Rumble Resources

BPM today confirmed that it will commence a first pass aircore drilling program at the Hawkins Earaheedy Project in mid-April. It also said that ~1,887m of aircore drilling has now been completed at the Nepean Nickel Project.

The main reason for our investment in BPM was to see it drill the Hawkins Project, which sits next door to $257M capped Rumble Resources’ Chinook discovery in the Earaheedy basin.

The Hawkins drilling program will comprise ~7,500m of aircore drilling to identify higher priority targets that can be followed up with RC/diamond drilling. Essentially, this drilling program is more about ranking follow up drill targets and less about actually making a new discovery.

Drilling will be done over the blue lines on the map below. We are particularly interested in seeing if BPM can prove up drill targets near the “Pinnacles” prospect and around the deep EM targets that sit right near the two major fault lines in the area.

BPM also confirmed today that it has completed ~1,887m of aircore drilling at the Nepean Nickel Project. Results are expected in the next 10-12 weeks. We wrote about these targets in our last note which you can read here.

As we noted above, our main reason for investing in BPM was its lead-zinc drilling at its Hawkins Project, so we are less focused on these nickel results, but if anything were to come from them it would be a pleasant surprise.

To see all of the reasons why we hold BPM and what we want to see the company achieve in 2022 check out our 2022 Investment Memo here.

Next, we will be watching to see drill rigs mobilise on site at the Hawkins project.