BMG intersects pegmatites at Bullabulling project, WA
24 May
Western Australian focused gold and lithium explorer BMG Resources Limited (ASX: BMG) has completed a drilling program of 20 RC holes for 1,485m to test lithium and gold targets at the Bullabulling project located in Coolgardie region of the Eastern Goldfields in Western Australia.
HIGHLIGHTS
BMG completes 20-hole Reverse Circulation (RC) drilling program, for 1485m, to test lithium and gold targets at the Bullabulling project
Pegmatites confirmed in multiple holes including:
Ubini Prospect: Hole 23BBRC016 – 28m of pegmatite from 2m
Purple Panda: multiple intercepts of pegmatites and felsic intrusives along the line
A two-hole fence testing historic gold mineralisation returned ~1.25m quartz vein in the interpreted lode location in 23BBRC019 from 53m
Assays expected in coming weeks
BMG has an Option to acquire the Bullabulling Project until mid-June
Historic exploration at Bullabulling identified widespread pegmatite occurrences within the project tenure, several of which contain lithium mineralisation assaying greater than 1% Li2O.
Recent work undertaken by BMG confirmed the LCT characteristics of these pegmatites through geochemical assay ratio analysis. The presence of evolved mineral phases such as tantalite, cassiterite, amblygonite, zinnwaldite, lepidolite and spodumene, coupled with favourable textures, underlines the exploration potential of the system for economically significant lithium mineralisation.
The drilling program confirmed pegmatites in multiple holes, with the Ubini and Purple Panda prospects emerging as early targets.
On 15 February, BMG entered into a four-month binding option agreement to acquire, at BMG’s discretion, a 100% interest in the Bullabulling Project– refer 15 February ASX announcement ‘BMG Expands WA Lithium and Gold Footprint with Project Acquisition’.
BMG Resources Managing Director Bruce McCracken said:
“BMG’s first drilling program at the Bullabulling Project has shown early potential for gold and lithium discovery, with the Ubini and Purple Panda prospects emerging as early targets.
“Assays are due in coming weeks that will help to inform the Company’s decision regarding its Option to acquire Bullabulling, which is open until mid-June.
“Coolgardie has a long history of gold production and an increasing significance as one of Western Australia’s most prospective lithium regions. The Bullabulling Project presents an opportunity for BMG to acquire an earlystage exploration project in the neighbourhood of multi-generational mining operations.”
