BPM to start 7,500m gold drilling at WA project - results due May
Our WA gold exploration Investment BPM Minerals (ASX: BPM) has just re-commenced exploration at its Forelands Gold Project in the Eastern Goldfields, WA.
Including a 7,500m RC drilling program which BPM expects to start this month and have results from in May.
BPM's first drill program late last year hit gold in all 24 holes.
The next round of drilling will be across two areas:
1. Beachcomber Main Lode (16 holes for a planned 3,500m) - following up those previous hits, this time chasing extensions at depth.
(source)
2. Soil anomaly targets (24 holes for a planned 4,000m) - following up the soil anomalies found around Beachcomber (to the west of the existing drilling) - the standout for us is Beachcomber NW, a 700m long gold-in-soil anomaly.
Anglo actually drilled a few holes into the northern end of the soil anomaly back in the day and returned 42m @ 0.38 g/t gold, but the peak of the anomaly has never been properly tested.
(source)
It makes some sense that Anglo walked away, because around this time they came across the Tropicana deposit so focused its efforts there which turned into an 8Moz mine:
(source)
So there's clearly at least some gold in the system, and it hasn't been drilled right where the soil geochemical results have shown the loudest results from the sampling undertaken..
Here is a look at the drilling across this wider Beachcomber area:
(source)
IF any of these soil anomalies return Beachcomber Main Lode-style grades, this project will start to look a lot bigger than just one lode…
(Of course there are no guarantees, but the soil sampling has been validated by the known mineralisation at the main lode which at this stage makes these targets more compelling)
What about Bonnie & Clyde?
The "moonshot" target and what is arguably generating most interest in BPM at the moment, the ~6km gold-in-soil anomaly that has never been drilled before.
The key tenement was recently granted and BPM is now running a ~2,000 sample soil survey over the target area.
There are three things that need to happen before BPM can actually drill test Bonnie & Clyde:
- Soil sampling results - expected May
- Heritage survey - expected March/April
- Program of Work approval - submitted, awaiting ministerial sign off
So we could see BPM be drill ready on these targets in Q3-2026…
This is the target that one fund manager was put onto BPM by a friend who told him:
“I've been buying this thing. I really like this thing. You know, it's way, way east of Kalgoorlie, kind of an unknown belt. They've got some historical drilling, but what's really interesting to me is Bonnie and Clyde" (Source - Money of Mine)
The reason we like that target is because it's never been drilled before, it sits across a surface area that resembles some other major discoveries AND it's interpreted to be hosted in similar geology to Anglo’s Tropicana…
(fingers crossed we get a Tropicana 2.0)
(Source)
A recent technical review concluded the geology at Bonnie & Clyde has distinct parallels to the 8Moz Tropicana deposit (owned by $78BN AngloGold and $6.0BN Regis Resources) which sits along the same structures.
(again, fingers crossed - but there is still a lot of work to do before BPM can get to testing that theory).
Here is a look at the soil sampling program, with ~2,000 samples planned it covers most of the image (the small dots):
(source)
There is also other action across the broader project area, there are several target areas planned to receive some surveys.
This includes a detailed airborne magnetic survey in late March with 30m line spacing across Beachcomber, Bonnie & Clyde and the regional targets (Sidecar, Ambrosia, Brass Monkey).
This data will feed into future drill and exploration planning across the broader 630km² project area.
(source)
What we want to see next from BPM?
🔄 Phase 2 RC drilling at Beachcomber (7,500m)
The rig is being mobilised now with drilling expected to run through March/April. Assay results due in May. We want to see extensions to the main lode AND hits from the untested soil anomalies.
🔲 Drilling commenced
🔲 First assay results received
🔲 All results in
🔄 Bonnie & Clyde soil sampling & drilling
~2,000 samples are being collected now across the 6km anomaly. Results are expected May. This data will define the targets for the maiden RC drill program.
🔲 Soil sampling completed
🔲 Assay results received
🔲 RC drill targets defined
🔲 Heritage survey completed
🔲 Bonnie & Clyde maiden drilling (Q3 2026)
