BPM Minerals new exploration phase

BPM Minerals (ASX:BPM) has commenced a new phase of exploration drilling at the Louie Gold Discovery within its Claw Gold Project in Western Australia. This includes a 2,000-meter reverse circulation (RC) drilling program aimed at exploring mineralization at depth and defining a viable gold deposit. The company has entered a 'drill for equity' agreement with Topdrill Pty Ltd, allowing part payment of drilling costs with company shares.

BPM Minerals exploration update and outlook

BPM Minerals has embarked on a new drilling phase at the Louie Gold Discovery within the Claw Gold Project. The 2,000-meter RC drilling program aims to explore the high-grade core of the Louie Prospect, which is part of a prospective corridor near Capricorn Metals' Mount Gibson Gold Project. The agreement with Topdrill allows BPM to pay up to 50% of drilling costs with shares, showcasing confidence in their exploration efforts. Fully funded, BPM plans additional drilling in early 2025 and has applied for a new tenement to expand their exploration potential. The results from this drilling phase are expected early next year, positioning BPM Minerals to advance their gold exploration strategy effectively.

Executive insights on BPM's strategic move

The collaboration with Topdrill through the drill for equity agreement reflects their confidence in BPM's assets and exploration team. This strategic partnership will enable us to advance our exploration activities in a cost-effective manner.