BPM hits extensions to its WA gold project
Our WA gold exploration Investment BPM Minerals (ASX: BPM) just released assay results from follow up drilling at its WA gold project.
Today's results were from BPM’s Beachcomber asset where BPM has drilled before and is now looking to put together a maiden JORC resource on.
BPM with its previous rounds of drilling defined the extent of its project.
With the current round of drilling, BPM is drilling in and around those known pockets of gold aiming to get enough data coverage to put out a maiden JORC resource.
Basically, firming up what the company knows AND seeing if there is anything previous drilling missed.
Today BPM put out results from the first 9 of the 53 completed holes.
And the immediate stand out to us was the 18m, 4.93g/t gold hit which looks like it has made BPM’s ‘gold worm’ bigger, plus further along an even thicker intercept:
(source)
Bigger is better as it should technically make whatever JORC resource BPM is working on bigger - now we wait to see the rest of the results from the program (and eventually that maiden JORC resource)...
Meanwhile - BPM is drilling its giant Bonnie & Clyde targets too
This is the big one we have been looking forward to for a while.
~3 weeks ago, BPM started drilling Bonnie & Clyde - BPM’s project that covers an area so large it is comparable to that of the ~8Moz Tropicana deposit owned by $65BN AngloGold Ashanti and $5.4BN Regis Resources.
AND the Glenburgh discovery - which has turned Benz Mining into a $1.7BN capped company (share price is up from ~18c to as high as $5.56 in the last two years).
(Source)
Unfortunately the drilling here was temporarily paused due to weather (we looked up and there was some decent rain around 2 weeks ago), so at the moment, BPM has only completed ~4 holes.
BPM expects drilling to resume "in coming days" (source), with around two months of drilling needed to complete the 65 hole, ~10,000m program.
The positive is, BPM has a big enough program planned that we will know whether or not BPM’s made a new discovery or not after this round of drilling.
Here is what BPM is drilling:
(source)
We covered the Bonnie & Clyde targets in detail here: BPM starts maiden drilling at giant never before drilled WA gold target.
What’s next for BPM?
Bonnie & Clyde targets (Drilling now) 🔄
After 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 survey
- ✅ Soil sampling (1,500 samples taken, assays 4-6 weeks away from today)
- ✅ Geophysical survey results.
- ✅ Program of Work
- ✅ RC drilling begins (source)
- 🔲 Drill results (expected Q4 2026/Q1 2027)
Beachcomber Phase 2 drilling (7,500m) 🔄
As mentioned earlier, here 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 (first batch received today, 9/53 holes)
- 🔲 Maiden JORC Resource (H1 2027) (source)
