Hamelin Gold (ASX:HMG) has been selected to participate in the 2024 BHP (ASX:BHP) Xplor program.
Xplor is an accelerator program that runs over a 6-month period to accelerate growth plans and establish long-term partnerships.
Hamelin, which has a $12.28 million market capitalisation, says BHP will provide it with up to US$500,000 in non-dilutive funding to support and accelerate its assessment of nickel-copper-platinum group element (PGE) potential of the Tanami Province in Western Australia.
Subsequent to today’s (23 January 2024) announcement, shares in Hamelin Gold have increased 30.666% to $0.098 per share as of 11:25am AEDT.
In July 2023, Hamelin identified the nickel-copper-PGE mineralisation within the Hawkeye mafic/ultramafic intrusion — the first documented occurrence of this style of mineralisation in the Tanami.
Hamelin Gold Managing Director Peter Bewick says: “Partnering with BHP through the Xplor program will facilitate the accelerated assessment of the nickel-copper-PGE potential of this region through the provision of non-dilutive funding, together with the ability to access BHP’s world-class networks and expertise.
The Xplor program will be completed in parallel to the company’s ongoing gold exploration in the Tanami, which includes a planned RC drilling program at the Sultan deposit for March or April this year.”
As reported by Mining.com.au yesterday (22 January 2024), drilling will take place at the Fremlins South, Olsen, Newkirk, Sultan, and Sultan West prospects to follow-up on a ‘coherent’ gold anomaly and continuous regolith gold mineralisation.
Hamelin Gold is a gold explorer based in Perth with a landholding of 2,489km-square in the Tanami Gold Province, which is prospective for ‘high-value’, large-scale gold deposits and hosts Newmont’s (ASX:NEM) tier one Callie Operations in the Northern Territory.
The West Tanami project is a belt-scale greenfields opportunity hosting the same geology and key structures as Callie with minimal modern exploration completed across the Hamelin landholdings.
As of 30 September 2023, Hamelin Gold had $6.3 million cash at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Hamelin Gold
