BPM gets permits for second drill program at WA gold discovery

BPM gets permits for second drill program at WA gold discovery

Today, our gold exploration Investment BPM Minerals (ASX: BPM) has announced it has received approvals to undertake further RC drilling at its promising Louie gold discovery within the Claw project area in Western Australia.

This clears the way for a ~2,000m RC drill program at the Louie prospect to test for deeper gold mineralization in late November (this month).

Previously in September BPM made a high grade gold discovery in WA:

BPM Announces New High Grade Gold Discovery at Claw Project

The discovery hole was a drill intercept of 30m at 1.8g/t of gold at its Claw project.

After that, more assays came in and BPM delivered gold intercepts on both sides of the discovery hole:

But due to high market expectations, BPM subsequently sold off - perhaps the market wanted significantly more from BPM, which sits immediately adjacent to the $2.3BN capped Capricorn Metals.

We think the real test of the discovery’s potential will be when BPM brings in the RC rig and drills for extensions at depth in the next couple of months.

With that next round of drilling BPM will be testing to see if its discovery is getting bigger and does this:

OR if it's not as big as we would have liked and does this:

BPM completed a $1.7M capital raise in October, so we think BPM is well funded for this next round of drilling.

What’s next for BPM?

With all of the results published our attention now turns to BPM’s third RC drilling program which is set to start in late November and the AC program set for 2025.

RC Drill Campaign at Claw

🔲 Drilling commenced
🔲 Drilling complete

🔲 Assay Results

AC Drill Campaign at Claw (2.5km of untested strike)

🔲 Drilling commenced
🔲 Drilling complete

🔲 Assay Results

Geophysics/Geochem (20km of untested strike)

🔲 Soil Sampling Complete

🔲 Assay Results

🔲 Targets of interest identified

Read our latest not on BPM below:

BPM announces new gold intercepts on BOTH sides of discovery hole - time to go deeper.