BPM Minerals Unveils High-Grade Gold Discovery at Claw Gold Project
BPM MINERALS LIMITED (BPM) Share Update September 2024 Tuesday 17th
BPM Minerals Announces High-Grade Gold Discovery at Claw Gold Project
BPM Minerals Ltd (ASX: BPM) has announced significant high-grade gold discovery from its second phase of drilling at the Louie Prospect, part of the Claw Gold Project in Western Australia.
Instant Summary:
- 30m @ 1.84 g/t Gold from 25 metres including 5m @ 7.12 g/t Au from 35m.
- Louie Prospect is located near Capricorn Metals' 3.24Moz Mount Gibson Gold Project.
- Focus on testing a 1km long, 100ppb gold in regolith anomaly.
- 6 RC holes completed targeting downdip extent of existing anomalies.
- Additional aircore drilling underway on 100m infill traverses.
- Planning for Phase 3 follow-up RC drilling has commenced.
High-Grade Gold Discovery Details
BPM Minerals Ltd (ASX: BPM) has announced promising high-grade initial drilling results from the second phase of drilling at the Louie Prospect, part of the Claw Gold Project in Western Australia. The initial aircore drilling assay results have returned a high-grade intercept of 30m @ 1.84g/t Au (from 25m) including 5m @ 7.12 g/t Au (from 35m).
The Louie Prospect is strategically located immediately south along strike of Capricorn Metals’ (ASX: CMM) 3.24Moz Mount Gibson Gold Project, providing BPM with an exceptional opportunity to explore within a proven gold corridor. The drilling program is focused on testing the 1km long, 100ppb gold in regolith anomaly, identified during Phase 1 drilling earlier this year. This anomaly shares similar geology to the gold mineralisation found to the north at the Mount Gibson Gold Project.
Ongoing and Future Drilling Plans
Six RC holes have been completed targeting the downdip extent of existing aircore regolith anomalies, with results awaited. Additional aircore drilling is presently underway on 100m infill traverses to better define the substantial gold in regolith anomaly defined to date. Planning for Phase 3 follow-up RC drilling has commenced, and an option issue prospectus will be issued in the coming weeks.
CEO's Comments
Commenting on the drilling, BPM CEO Oliver Judd stated, 'We’re delighted to have received exceptional results from Louie in this second round of drilling at the Claw Gold Project. This is shaping as a highly promising greenfields discovery in one of Western Australia's most prospective gold corridors. We are in a heavily endowed environment at Mt Gibson, immediately along strike from WA’s next gold mine in a ‘gold bull market’. With additional drilling nearly complete, we are eager to further delineate the high-grade core of this 1km regolith anomaly. The upcoming assays, due within the month, will guide us toward deeper RC drilling. This is the beginning, and investors can expect a steady stream of updates as we continue to explore what could turn into a game-changing discovery with clear strategic potential in relation to Mount Gibson.'
The high-grade gold discovery at the Claw Gold Project is a significant development for BPM Minerals. The proximity to Capricorn Metals’ Mount Gibson Gold Project adds strategic value, potentially increasing investor interest and stock value. The ongoing and planned drilling activities indicate a robust exploration program that could lead to further positive results, enhancing the project's overall value.
Investor Reaction:
Analysts are likely to react positively to the high-grade gold discovery, given the strategic location and the promising initial results. The ongoing drilling and upcoming assays are expected to keep investor interest high, with potential for significant stock price appreciation if further positive results are reported.
Conclusion:
Investors should keep a close watch on BPM Minerals' updates regarding the Claw Gold Project. The high-grade gold discovery and the strategic location near Mount Gibson Gold Project highlight the potential for significant returns. Stay tuned for further drilling results and strategic developments that could impact your investment decisions.