BPM AC Drill Results from Claw Gold Project

Published 22-MAR-2024 23:37 P.M.

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Earlier this week our exploration Investment BPM Minerals (ASX: BPM) put out AC drill results from its Claw Gold project.

BPM’s project sits along strike from Capricorn Metals’ (capped at $1.9BN) Mount Gibson gold mine.

AND one of BPM’s targets is less than 500m away from a Capricorn prospect where a monster drill intercept was recently announced to market - 10m @17.16g/t from 32m at the Sundance prospect.

This week BPM put out AC drill results from the targets nearest to that monster hit by Capricorn.

The results so far showed BPM that it has a ~1km long anomaly that warrants deeper RC drilling.

Most of the drilling to date has been to close in on the area where BPM is hitting the most gold.

The follow up deeper RC drillholes will test that primary area next -

Additional AC drilling has been completed at Louie to constrain the regolith gold anomaly prior to RC drill testing of the primary mineralised zone.

So far BPM has drilled ~171 Aircore and RC holes drilled for a total of 8,890m.

~75% of the assays result from the drill program are still pending and the permitting process for a phase 2 RC drill program has already started.

BPM expects the second round of drilling to start in the middle of the year.

Some context on the drill program -

BPM has two priority targets that it plans to test with its 10,000m AC drill program:

The Louie Prospect - 500m away from Capricorn’s mine.
The Chickie anomaly - which covers an area of ~1,000m x 500m.

Both the prospects sit immediately to the south of Capricorn’s mine.

For some context - Capricorn’s Mount Gibson project is made up of several open pit mines coming together to form a ~3.24M ounce gold project.

All of the open pit mines (shown as black dots on the image below) run along a north-to-south trend and are along strike from BPM’s project.

So BPM isn't necessarily looking for an extension to Capricorn’s gold project - instead, it is looking for repeat structures along that north-south trend.

If BPM can find even one of these structures, considering the company’s tiny market cap we think it would be a great result for BPM, and the market could reward it.