BPM Minerals (ASX:BPM) has been granted a Program of Work (PoW) which allows for an extensive drilling program to begin in January 2024 at the Claw Gold Project in Western Australia.
Further, the company can go forward with next year’s drilling after completing a Heritage Survey with members of the Badimia.
The company has secured drill contractors which will be testing several targets as part of the program, including the Louie and Chickie prospects, as well as regional structural targets uncovered from magnetic processing and targeting exercise.
BPM, which has a market capitalisation of $5.60 million, plans to conduct a 10,000m aircore (AC) and reverse circulation (RC) drilling program.
Chief Executive Officer (CEO) Oliver Judd says the company is pleased to have completed the final piece of permitting at the Claw Gold Project and plans to kick off drilling in January once site preparations are completed.
“We’d like to thank the Badimia group for completing the survey so late in the year. Claw is an exciting, drill-ready greenfields project, immediately along strike from one of Western Australia’s next major gold mines.
Supported by our strong more than $3 million cash position and with an $3,000 gold price, BPM is well positioned to make a new gold discovery in a revitalised gold camp.”
BPM Minerals is a Perth-based gold, nickel, and base-metal explorer focused on its portfolio of projects across some of Western Australia’s most prolific greenstone belts.
As of 30 September 2023, the company had $3.542 million cash and cash equivalents at hand, according to its latest quarterly.
Write to Aaliyah Rogan at Mining.com.au
Images: BPM Minerals
