Ground granted along strike $1.3BN Capricorn Metals.
This morning our exploration Investment BPM Minerals (ASX: BPM) confirmed that its exploration licenses at its Claw Gold project had been granted.
BPM’s gold project sits adjacent to Capricorn Metals (capped at $1.3BN) Mount Gibson gold project, where the company has a 2.1M ounce gold resource and is currently drilling less than ~1.5km away from BPM’s ground.
More importantly, BPM already has two high priority drill ready targets right near the southern border of the Capricorn Metals project.
- The Lewie anomaly - Covers an area measuring 1,200m x 400m
- The Chickie anomaly - Covers an area measuring ~1,000m x 500m.
We recently saw the following presentation from Capricorn Metals at the ‘Diggers and Dealers’ conference, where the management team laid out a masterplan for the project and the areas surrounding it.
As a sign of this intent, the company completed ~80,000m of drilling and then committed to over 20,000m more of drilling with a view of making a final investment decision on redeveloping the project by the end of the year.
Our view is that what’s good for Capricorn will be good for the look through valuation of BPM’s ground.
You can see that presentation here starting from 14:47 onwards:
Next for BPM’s gold project:
BPM will complete some geochemical sampling before putting together the highest priority drill targets for an RC/aircore drilling program at the project.
