BMG Resources

BMG provides December quarterly activities report

  • 31 January

Western Australian-focused gold and lithium explorer BMG Resources Limited (ASX: BMG) today provided its quarterly activities report for the period ended 31 December 2023. 

BMG’s field activities during the quarter were primarily focused on its 100%-owned Bullabulling lithium and gold project near Coolgardie in Western Australia where the company’s second drilling program extended shallow lithium-bearing pegmatites and delivered further high-grade gold intersections.

HIGHLIGHTS

Bullabulling lithium and gold project 

  • All assays returned from second drilling program, comprising 36 RC holes for circa 2,800m, which tested numerous shallow lithium and gold targets
  • Ubini lithium prospect: continuation of mineralised pegmatites confirmed, extending the strike of the pegmatite field to more than 250m
  • Drilling also identified a series of stacked pegmatites which commence at surface and dip to the north-east, with mineralisation open in all directions
  • Poolmans Wealth gold prospect: delivered shallow high-grade intercepts including:
    • 2m @ 18.1 g/t Au from 34m (23BBRC036)
    • 1m @ 10.6 g/t Au from 58m (23BBRC034)
  • Next phase of work to include step out drilling at Ubini and Poolmans Wealth, and follow up drilling of additional lithium targets along the +4km LCT pegmatite corridor

Abercromby gold project 

  • Strategic review of Abercromby underway to consider opportunities to maximise shareholder value
  • Argonaut PCF Limited appointed as financial advisor for the strategic review
  • Abercromby is an exciting exploration and development opportunity in an established mining district of Western Australia, with a maiden JORC compliant resource of 518,000 oz Au and considerable resource expansion upside

Corporate 

  • Board and management changes effected in January 2024 including John Prineas transitioning from Non-executive Director to Non-executive Chairman

Gerard McArtney

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