AUS
NZ
UK
CA
USA
IND
BPM Minerals Ltd (ASX:BPM) has seen its shares rise 86% following significant gold discoveries at its Claw Project in Western Australia. The company, an ASX mining stock, recently reported promising aircore drilling results, including impressive gold assay grades that have sparked interest among investors.
Key Drilling Results from Claw Project
The aircore drill results from BPM’s Loule target have delivered assay grades of 30m at 1.84g/t gold starting from a depth of 25m. Notably, the results also include a high-grade 5m pocket at 7.12g/t gold from 35m depth. The relatively shallow depth of these results, all within 50m, has likely contributed to the positive market reaction.
This discovery comes from a 1km-long gold anomaly in the regolith at Claw. The project is located along strike to the south of Capricorn Metals’ (ASX:CMM) Mount Gibson project, which holds an estimated 3.24 million ounces of gold. BPM Minerals has highlighted that the underlying geology at Claw shares similarities with that of Mount Gibson, adding further interest to the potential of this exploration.
Next Steps for Exploration
BPM Minerals has additional assay results pending for six reverse circulation (RC) drill holes, which will provide more insight into the 1km gold anomaly. These findings are expected to guide future drilling activities at the Claw Project, particularly as the company continues aircore drilling and prepares for a third phase of RC drilling.
BPM’s exploration activities are gaining momentum as they aim to further define the high-grade gold core of the anomaly. The results from the upcoming assays will play a critical role in shaping the company’s strategy for deeper drilling and continued exploration in this promising region.
Future Plans and Outlook
BPM Minerals is also preparing for an option issue prospectus, expected to be released in the coming weeks. The company’s managing director, Oliver Judd, has expressed optimism about the project, describing it as a potential game-changing discovery within one of Western Australia’s most prospective gold corridors.
Judd emphasized the strategic significance of the Claw Project’s proximity to Mount Gibson, noting that BPM is positioned in a heavily endowed environment near what is expected to be WA’s next major gold mine. With additional drilling nearing completion and further assay results due within the month, the company anticipates a steady flow of updates as exploration continues.
BPM Minerals last traded at 9.3 cents per share.
