BPM - Drilling next door to $3.5BN Capricorn Metals complete, assays pending

Our gold exploration Investment BPM Minerals (ASX: BPM) just finished it’s latest aircore drill program on its project to the south of Capricorn Metals.

BPM’s project is bordering $3.5BN Capricorn Metals’ Mount Gibson gold project which is the main development asset in Capricorn’s portfolio.

Capricorn has been picking up ground from juniors in and around the project recently, which tells us that they are looking to scoop up any ground that they think has discovery/production potential.

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A big part of the reason why we like BPM’s ground is because of how close it is to Capricorn & the recent hits from BPM which triggered a ~100%+ move in its share price.

Today, BPM announced that its latest round of aircore drilling had been completed and that results from the drilling would come in early April.

BPM’s drilling is testing the ~2.5km area between its two main prospects:

BPM’s drilling was with an aircore rig, so our base case expectation isn't necessarily to see a big discovery hole here.

Ideally we see BPM hit enough gold intercepts to warrant coming back and drilling out this section with an RC rig.

What’s next for BPM?

Aircore Drill Campaign at Claw

Milestones:

✅ Drilling commenced
✅ Drilling complete

🔄 Assay Results (expected in early April)

Geophysics/Geochem (20km of untested strike)

Beyond this drilling, we’re also looking forward to soil sampling further south, pending tenement being granted, which could help unlock a project of far greater scale.

Milestones:

🔲 Soil Sampling Complete

🔲 Assay Results

🔲 Targets of interest identified