BPM releases results from Claw gold project, flags potential new project acquisition

Our gold Investment, BPM Minerals (ASX: BPM) has announced results from its recent drilling program at the Claw Gold Project.

Key points were as follows:

• Completed 84-hole, 3,647m aircore drilling program
• Key intercepts include 2m @ 0.36 g/t Au and 1m @ 0.18 g/t Au
• Drilling targeted extensions along an 8km prospective corridor
• Drilling was in an area that is adjacent to Capricorn Metals' 3.99Moz Mount Gibson Gold Project

We see this as a disappointing result, as we had high hopes for this part of the Claw drilling program.

There are things to look forward to though, with BPM now focussing on getting granted tenure across 20km of strike, with soil sampling programs planned upon granting.

In addition, today’s announcement said that BPM is “currently reviewing new project opportunities in the precious metal space.”

With $2M in cash, BPM is well funded in our view for a company with a current market cap at time of writing of ~$2.5M.

What’s next for BPM?

🔄Tenure grant for 20kms of strike to the south

BPM said today that granting for this tenement is due “imminently”.

🔄Potential new project acquisition

We’ll be watching to see if BPM acquires a new project.