BPM drilling next door to $1.8BN Capricorn Metals
Macro: Cannabis
Our exploration Investment BPM Minerals (ASX: BPM) is currently drilling its Claw gold project in WA.
The project sits immediately along strike to the Capricorn Metals’ (capped at $1.8BN) 3.24Moz Mount Gibson gold mine.
BPM is running a 10,000m AC drill program, looking to test two primary targets right near the southern border shared with Capricorn Metals:
- The Louie Prospect - 500m away from Capricorn’s mine.
- The Chickie anomaly - which covers an area of ~1,000m x 500m.
Today, BPM put out soil sampling results from targets further south of Louie and Chickie and confirmed that BPM would look to drill those targets as part of the current drill program.
Here are where the new targets sit:
We covered the Claw drill program in a detailed note here: $5.2M microcap BPM is now drilling it’s Claw gold project - 500m from $1.6BN capped gold miner
What is next for BPM?
Claw Project
The latest guidance from BPM includes a timeline of events in the lead up to drilling results:
- ✅ November 2023 - Program of work granted by DMIRS
- ✅ December 2023 - Heritage Survey complete
- ✅ January 2024 - Drilling approval granted
- ✅ January 2024 - Site preparations
- 🔄 January 30th 2024 - 10,000m AC/RC Drilling started
- ✅ February 2024 - Soil sample results
- 🔲 March 2024 - Drilling results from Claw Project
