Drilling underway at WA gold project

Drilling is now underway at our exploration Investment BPM Minerals’ (ASX:BPM) Santy Gold Project in WA.

The company reported that the 100-hole (totalling 3,500 metres) program has commenced and is expected to take three weeks to complete.

The program will comprise both RC and AC drilling with holes to be completed at both gold and base-metal targets.

RC drilling will target a 2.2km-long structural target from which BPM has previously returned 100g/t rock chips and where mineralisation remains open in all directions.

Historical exploration at BPM’s Santy project was targeting base-metal targets, nickel, cobalt and platinum group elements.

Our primary focus is the assay results that are pending from the Hawkins Project next door to Rumble Resources’ lead/zinc discovery.

This was one of the key reasons we first Invested in BPM back in May 2021.

At the moment, BPM has XRF readings confirming lead-zinc mineralisation at Hawkins across five key areas of interest from depths of only 40-100m.

Drilling samples have been sent to the assay labs, and upon receipt of final assays BPM expects to undertake follow-up exploration.

As a result, we had set our expectations as follows:

• 🔄 Bull case = BPM proves there is enough potential to warrant follow up drilling works over the project.
  
• ✅ Base case = Traces of lead-zinc mineralisation across the project area.
  
• ❌ Bear case = No mineralisation and no planned follow up drilling programs.