BPM Minerals (ASX:BPM) is currently underway with drilling at the Chickie prospect, within its Claw Gold Project in Western Australia, amid completing drilling at the Louie prospect.
The $7.38 million market capitalisation company has begun 4,500m of aircore and reverse circulation programs. The first samples are expected to be sent to the ALS laboratories in Perth in late March 2024.
Chief Executive Officer Oliver Judd says the company is seeking to unlock new opportunities and advance towards discovering substantial gold deposits in the region.
“I am thrilled with the progress of our drilling program at the Claw Gold Project. Situated along strike from Capricorn Metals’ (ASX:CMM) Mt Gibson Gold Project, the significance of our location cannot be overstated.”
Initial observations from the drilling at Louie confirms the prospective sequence of rocks that host the mineralisation at Mt Gibson, as expected, trend onto and through Claw.
Drilling has also confirmed that a ‘large’ amount of historical exploration drilling finished within overburden and did not test the prospective basement rocks.
The company says this means a ‘significant’ amount of historical drilling has been ineffective at Claw.
BPM’s drilling program at Louie and Chickie is part of an extensive 10,000m drilling program at Claw, which encompasses 33km of an untested, ‘highly prospective major’ structure.
The company says Claw extends along strike from a multi-million-ounce gold deposit that is anticipated to be one of Western Australia’s ‘major’ gold mines, namely Mt Gibson.
BPM Minerals is a Perth-based gold, nickel, and base metals explorer with a portfolio of assets in Western Australia’s most prolific greenstone belts.
As of 31 December 2023, the company had $3.187 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: BPM Minerals
