BPM commits to 20,000m of drilling across WA gold projects

Our WA gold exploration Investment BPM Minerals (ASX: BPM) just committed to a 20,000m drill program across two of its WA gold projects:

1. Its existing Beachcomber discovery - ~10,000m of infill and extensional drilling, starting in late July going for a maiden resource on the project.
2. Its moonshot exploration targets Bonnie & Clyde - ~10,000m drilling the ~6Km long, undrilled gold in soil anomaly starting August

So we could see BPM announce a first resource on its project AND have a crack at a big new discovery inside the next 6-9 months.

We are especially looking forward to drilling at Bonnie & Clyde, the ~6km long gold-in-soil anomaly that’s never been drilled.

The target most similar in style to Regis and AngloGold Ashanti’s Tropicana and Benz’s more recent discovery, Glenburgh:

(source)

BPM has done soil sampling at Beachcomber and the drill results correlated with this, so BPM is doing more soil sampling at Bonnie and Clyde in addition to prior results which already show this:

(source)

Before the rigs turn, BPM will refine its drill targets using the recently completed ~1,500 sample soil program and airborne magnetic survey -with the final targets due in late July.

Final approvals are expected in the coming weeks, and assays from both programs are due in Q4 2026.

Beachcomber is where all the recent newsflow came from.

BPM's first round of drilling there hit gold in every hole - headlined by 9m @ 7.77 g/t gold and last month's follow-up assays grew the system to ~700m of strike across multiple lodes (including a hit of 1m @ 85.61 g/t gold).

Here is a look at that drilling program:

(source)

So now BPM believes there are multiple lodes underneath and will be looking to put out a resource form this followup drilling:

(source)

This next round of drilling is designed to tighten the drill spacing enough to estimate a maiden JORC resource across those lodes.

We are hoping BPM proves up enough gold for that maiden resource - even a modest number could bring attention to the ~75km of mostly untested strike BPM holds along the shear zone.

BPM also says the resource work will directly inform its decision on exercising the option to acquire the project.

(The Beachcomber drilling is part-funded by a WA government exploration grant.)

We covered the full Bonnie & Clyde thesis in our April deep dive: BPM: Drilling next quarter - the big one we've been waiting for…

What’s next for BPM?

Beachcomber Phase 3 drilling (10,000m) 🔄

BPM confirmed today that they will be back with a 10,000m drill program aiming to define a maiden JORC Resource at this part of the project.

Here are the catalysts we are tracking across this prospect:

• 🔲 Drilling commenced (set to commence in August) (source)
• 🔲 Drilling completed
• 🔲 Assay results

Bonnie & Clyde targets (Drilling targeted for next quarter) 🔄

With today’s announcement we have three key bits of newsflow to look out for on these prospects over the coming weeks/months, ahead of the planned drilling in August:

Here are the catalysts we will be tracking:

• ✅ Key tenement granted
• ✅ Heritage agreement executed
• ✅ Heritage survey
• 🔄 Soil sampling (1,500 samples taken, assays were expected to be due around now)
• 🔄 Geophysical survey results (recently completed, results pending)
• 🔄 Program of Work - submitted, awaiting approval
• 🔲 Maiden RC drilling (set to commence in August) (source)