BPM Minerals (ASX:BPM) is gearing up to launch a 10,000m aircore and reverse circulation (RC) drilling program early next year at its Claw Gold Project in Western Australia.
The junior explorer has been granted a program of works (PoW) by the WA Department of Mines, Industry Regulation and Safety (DMIRS), which means BPM will now just need to complete a heritage survey with the Badimia Native Title Claimant Group before the drilling work can begin.
This heritage survey is slated for 11 December 2023, with the final report due in early January. BPM will then begin site preparations before it mobilises drill rigs to the Claw area
BPM says it has already outlined several drill-ready targets in the Claw area from historical datasets and the processing of newly acquired magnetic imagery.
Among these are the Louie and Chickie targets, which BPM says are historical gold-in-regolith anomalies immediately along-strike of Capricorn Metals’ (ASX:CMM) 2.76-million-ounce Mt Gibson Gold Project.
Louie lies near BPM’s tenement boundary and just 500m from Capricorn’s recent exploration work.
Chickie is a 1000m long anomaly home to multiple drill holes that end in mineralisation.
“Claw is an exciting, drill-ready greenfields project, immediately along strike from one of Western Australia’s next major gold mines,” BPM CEO Oliver Judd says.
“Supported by our strong $3.5 million cash position and with a A$3,000 gold price, BPM is well-positioned to make a new gold discovery in a revitalised gold camp.”
“BPM is well-positioned to make a new gold discovery in a revitalised gold camp”
BPM says it expects Capricorn to update the mineral resource of its Mt Gibson project over the coming months.
Thanks to the Claw project’s proximity to Mt Gibson, BPM believes Claw could host a multi-million-ounce gold deposit that would support a standalone operation or host a near-surface high-grade deposit that could supplement Capricorn’s Mt Gibson operations.
Alongside Claw, BPM owns 3 other Western Australian projects: the Hawkins Lead-Zinc Project, the Santy Gold Project, and the Nepean Nickel-Gold Project.
BPM Minerals ended the September quarter with roughly $3.5 million cash at hand, according to its latest financial report.
Write to Joshua Smith at Mining.com.au
Images: BPM Minerals