BPM Minerals Quarterly Activities Report - June 2024
BPM MINERALS LIMITED (BPM) Share Update July 2024 Tuesday 30th
BPM Minerals Announces New Acquisitions and Drilling Plans
BPM Minerals Limited (ASX:BPM) has released its quarterly activities report for the period ending 30 June 2024. The company announced significant progress in its exploration projects, including the acquisition of high-grade rare earth element tenements and the upcoming Phase 2 drilling at the Claw Gold Project.
Instant Summary:
- Acquisition of high-grade Rare Earth Element Durack Project.
- Phase 2 drilling at Claw Gold Project to begin in August 2024.
- High-grade assay results from rock chips at Durack Project.
- Environmental and heritage surveys completed at Claw Gold Project.
Acquisition of High-Grade Rare Earth Element Durack Project
BPM Minerals has entered into two exclusive option agreements to acquire tenements in the Durack Project, located in the East Kimberley Region of Western Australia. The project covers a significant tenement package of 494km², hosting high-grade Rare Earth Elements (REEs) along with zircon and titanium.
Initial rock chip samples from the project have returned exceptionally high-grade REE assay results, including:
- 4.89% TREO (Total Rare Earth Oxide) including 1.06% Nd2O3 + Pr6O11
- 4.38% TREO including 0.96% Nd2O3 + Pr6O11
- 3.93% TREO including 0.86% Nd2O3 + Pr6O11
Claw Gold Project
The Claw Gold Project has completed environmental and heritage surveys, with final drilling approval received in July. The Phase 2 AC/RC drilling program is scheduled to commence in mid-August 2024. This drilling program aims to test the Louie gold anomaly, a 1km long, 100ppb Au gold in regolith anomaly immediately along strike of Capricorn Metals Ltd.'s 3.24Moz Mt Gibson Gold Project.
Project Details and Future Plans
The Durack Project's REE mineralisation is hosted within a heavy mineral bearing sandstone, with over 100km of prospective strike. The project has shown promising results with high-grade assays and is expected to undergo extensive exploration activities leading to a maiden drilling program during the 2025 field season.
At the Claw Gold Project, the planned 3,000m AC/RC drilling program at the Louie prospect is designed to further test the 1,000m long, 100ppb gold in regolith anomaly identified from the first phase of drilling earlier this year.
The acquisition of high-grade REE tenements and the commencement of Phase 2 drilling at the Claw Gold Project are significant milestones for BPM Minerals. These developments are likely to positively impact the company's stock as they demonstrate ongoing progress and potential for valuable resource discoveries.
Investor Reaction:
Analysts are likely to view these announcements positively, as they indicate BPM Minerals' proactive approach to expanding its resource base and advancing its exploration projects. The high-grade assay results from the Durack Project, in particular, are expected to garner interest from investors.
Conclusion:
Investors should keep an eye on BPM Minerals' upcoming drilling activities and exploration results. The company's strategic acquisitions and proactive exploration efforts position it well for potential future growth. Subscribing to updates will help investors stay informed about BPM Minerals' progress and market movements.