BPM expands WA gold target across ~700m of strike

Our gold exploration Investment BPM Minerals (ASX: BPM) just expanded its first drill target (Beachcomber) across ~700m of strike…

BPM’s gold project sits on a similar geological setting to the 8Moz gold Tropicana deposit.

BPM has multiple targets to test across ~75km of strike - all along trend from that Tropicana discovery.

(Source)

The first target BPM drilled on its project was one leftover by Anglogold which it drilled from 2006 until 2009.

Anglo actually drilled here (Beachcomber), hit ~3m at 65.8 g/t gold and 9.7m at 4.5 g/t gold and then when gold prices fell, went back to drilling out its Tropicana discovery instead of focusing on regional exploration (understandably).

BPM just finished its first round of drilling on that target (we covered the results here).

And today, BPM expanded the size of the target across ~700m with soil sampling to the north and south of the known mineralised area:

(source)

BPM has already said it would do follow up drilling on the target - so we could see those extensions tested with some drilling next month…

We are also looking forward to drilling on other regional targets

As mentioned earlier, BPM has plenty of other targets along the ~75KM of strike its project covers.

One of the main ones we are looking forward to seeing drilled is the 6km, undrilled soil anomaly at “Bonnie and Clyde”.

That’s the target that one fund manager was put onto BPM by a friend who told him:

“I've been buying this thing. I really like this thing. You know, it's way, way east of Kalgoorlie, kind of an unknown belt. They've got some historical drilling, but what's really interesting to me is Bonnie and Clyde" (Source - Money of Mine)

The reason we like that target is because it's never been drilled before, it sits across a surface area that resembles some other major discoveries AND it's interpreted to be hosted in similar geology to Anglo’s Tropicana…

(fingers crossed we get a Tropicana 2.0)

(source)

Beyond Bonnie and Clyde, there are multiple other targets we are looking forward to seeing BPM drill as well:

Here is an overview of the areas surrounding BPM’s project:

(source)

What’s next for BPM

Drilling at WA gold project 🔄

Today BPM has released the drilling results from this program, the soil sampling results are still pending so we would expect these soon. Results from the drilling and the sampling will be used to lock in a follow up drill program.

Here are the milestones we will be tracking here:

• ✅ Drilling starts
• ✅ Drilling completion
• ✅ Assay results (received January 23)
• ✅ Soil sampling assays (received today)

Follow up drill program at WA gold project 🔄

BPM confirmed today that a followup program is already in the works with 2,500m of RC drilling currently planned.

They expect this to get underway in late February/early March, so there isn’t long to wait for this.

Approval on Bonnie & Clyde target tenements 🔄

BPM confirmed that it expects to get this approval soon in coming months which will be followed by surface exploration works, with drilling here expected in the second half of the year