BPM hits high grade gold in WA

Our micro cap exploration Investment BPM Minerals (ASX: BPM) just released the results from the recent drilling at its gold project in WA.

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

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It's an excellent time to be hunting for a new gold discovery, with gold prices continuing to set all time highs, just hitting US$4950/oz as of writing (~A$7240/oz):

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The better intercepts from today included:

• 9m @ 7.7 g/t gold from 75m (including 2m @ 21.73 g/t Au)
• 6m @ 6.72g/t gold from 28m
• 2m @ 12.33g/t gold from 134m and 5m @ 2.22 g/t Au from 105m
• 1m @ 17.24g/t gold from 131m

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There were also a few 2-5g/t intercepts over 2-4m, with the drilling program consisting of 24 holes, with every hole hitting gold mineralisation.

Drilling from this program has defined a coherent south-plunging high-grade ore shoot, open at depth, with 2,500m of drilling already in the planning to follow up on this.

Assay results from the soil sampling program that were done alongside this drill program are still at the lab, with results from this to be used to help define new drill targets.

BPM also confirmed that approvals are advancing to drill test additional targets in 2026, including the 6km long Bonnie & Clyde gold-in-soil anomaly. We covered prior progress on this target here.

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Currently BPM is awaiting this tenement to be granted (the one on the north of the area was granted recently by the DMPE), so it expects the Bonnie & Clyde tenement to be granted over coming months.

A second round of heritage surveys are planned on other target areas including Sidecar, Ambrosia and Brass Monkey in coming months.

Upon receipt of approvals at Bonnie & Clyde, it will be able to begin an aggressive exploration program which will kick off with soil sampling and heritage surveys.

This will pave the way for drilling here which is expected during the second half of 2026.

BPM confirmed today that next works on this project will include followup drilling at Beachcomber in late February/early March with this second round of drilling having 2,500m currently planned.

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 today, sampling results still pending)
• 🔄 Soil sampling assays

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