BPM completes 7,426m drill program at WA gold project with assays expected from late May

Our WA gold exploration Investment BPM Minerals (ASX: BPM) has just finished its second round of drilling on its WA gold project.

BPM drilled a total of 46-holes (over 7,426m) at its Beachcomber prospect.

That's the same prospect BPM drilled last year and hit gold in all 24 holes including hits up to 9m @7.77g/t gold.

With this second round of drilling BPM’s goal was to extend the gold found with that first round of drilling.

Assays from this round of drilling is expected in May/early June - so we could see results inside the next 3-4 weeks:

(source)

Here is a cross section of the same image above showing where BPM drilled for extensions:

(the black sections are where the first phase of drilling hit gold - the green is where the new drilling is targeting)

(source)

Now we wait to see IF BPM has extended the known gold mineralisation at Beachcomber.

Any find here - even if it's a few hundred thousand ounces of gold, could start to bring a lot more interest in the other targets BPM has sitting across its ~75km of strike.

Then BPM can use the interest in the stock (and its bigger market cap) to have a real crack at making a large new discovery on completely undrilled targets.

Below is BPM’s broader ground package where there is still a lot of work to be done to fully investigate potential discoveries:

(Source)

The big regional target - Bonnie & Clyde - on track to be drilled in Q3-2026

Today’s news relates to the Beachcomber program, but Bonnie & Clyde could end up being the main event for BPM in 2026, and that drill program is expected in Q3 2026.

We covered the full Bonnie & Clyde thesis in our deep dive earlier this week: BPM: Drilling next quarter - the big one we’ve been waiting for...

A quick recap on why we think Bonnie & Clyde is shaping up as a more than interesting prospect:

• It’s a 6km long gold-in-soil anomaly with peak values above 1g/t gold
  
  
• It has never had a single drill hole put into it
  
  
• It sits on the same Yellow Dam Shear Zone that hosts the 8Moz Tropicana deposit
  
  
• A recent technical review concluded the geology has distinct parallels to Tropicana
  
  
• The targets were mapped by Dr Barry Murphy - the structural geologist behind Predictive Discovery’s 5.5Moz Guinea discovery

What’s next for BPM?

So we have two parallel storylines feeding into the back half of 2026 for BPM:

Beachcomber Phase 2 drilling (7,500m) 🔄

We want to see BPM extend the gold discovered with BPM’s first round of drilling on this prospect.

Here are the catalysts we are tracking across this prospect:

• ✅ Drilling commenced
• ✅ Drilling completed
• 🔲 Assay results - expected from late May and into early June (source)

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

With today’s and Monday’s announcement we have three key bits of newsflow to look out for on these prospects over the coming weeks/months:

Here are the catalysts we will be tracking:

• ✅ Key tenement granted
• ✅ Heritage agreement executed
• ✅ Heritage survey
• 🔄 Soil sampling (1,500 samples taken, assays 4-6 weeks away from today)
• 🔄 Geophysical survey results (recently completed, results pending)
• 🔄 Program of Work - submitted, awaiting approval
• 🔲 Maiden RC drilling expected Q3 2026 (source)