BPM hits 20.95g/t gold in extensional drilling at WA gold project

Our Investment BPM Minerals (ASX: BPM) just announced assay results from its second round of drilling at its WA gold project.

Last year BPM drilled 24 holes into this project with all holes hitting gold and one of them hitting a 9m intercept with an average gold grade of ~7.77g/t.

With this latest round of drilling, BPM’s main target was to extend the mineralisation along stride and at depth.

Which today’s assay results have done - BPM’s now defined gold mineralisation across ~300m of strike and 250m depth with thin but very high grade hits 2m at 20.95g/t gold.

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Here is the before and after with today’s assay results announced:

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BPM still has another batch of assays coming from this latest round of drilling - mostly from the central and NW target areas - so we could see this target get bigger too.

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Now we wait to see IF BPM’s found enough gold to put together a resource on the project.

Even if it's a few hundred thousand ounces of gold, it 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:

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The big regional target - Bonnie & Clyde - remains 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 in late April: 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

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What’s next 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 - final batch of assays expected in the coming weeks.

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:

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 expected Q3 2026 (source)