Western Australian gold explorer BMG Resources Limited (ASX: BMG) has made significant strides in enhancing the prospectiveness of its Abercromby Gold Project, as recapped in its June quarter activities report.
Highlights
- Mineralised envelope at the Capital prospect more than doubled following thick, high-grade gold intersections including:
- 31m @ 6.18g/t Au from 162m (20ABRC0002), and part of a broader 77m @ 2.99g/t Au from 116m
- 10m @ 11.71g/t Au from 295m (21ABDD004)
- 8m @ 6.56g/t Au from 446m (20ABRC0002)
- 24m @ 1.97g/t Au from 101m (21ABRC003)
- 39m @ 1.35g/t Au from 205m (21ABDD001)
- Aircore drilling grows pipeline of highly prospective regional gold targets to the south of Capital including:
- 4m @ 3.58g/t Au from 52m (22ABAC061) at the Archer Prospect
- 4m @ 1.19g/t Au from 16m (22ABAC117) punctuates an emerging 1.6km target zone with direct continuity from the West Lode at Capital
- 4m @ 1.46g/t Au from 44m (22ABAC014) at the Barrack Prospect
- Aircore drilling program following up gold anomalous regional targets completed, results pending
- Additional resource development diamond drilling program commenced at the Capital prospect, with three holes now completed, underpinned by a successful $2.5 million capital raising
BMG’s focus during the quarter was the completion of drilling and exploration activities at the Company’s 100% owned Abercromby Gold Project near Wiluna in WA, including the Capital Prospect.
BMG is targeting a maiden resource estimate at the Capital Prospect following the return of thick, high-grade gold intercepts early in the period that more than doubled the mineralised envelope.
Aircore drilling results, which were also received early in the period, defined a series of highly prospective regional targets to the south of Capital.
In June, the Company raised $2.5 million from institutional and sophisticated investors to fund the third major drilling campaign at Abercromby – including a ~3,700m diamond drilling campaign at Capital and a 59-hole aircore campaign to follow up regional targets – as well as activities at the Company’s Invincible and Boddington South projects.
BMG commenced the eight-hole, ~3,700m diamond drilling program at Capital in late June. The program is designed to develop the resource in and around the area delineated by the successful result of 21ABDD004.
At time of writing, three holes have been completed and encouraging early geological observations from all holes indicate prospective alteration has been intersected in the predicted zones of the East and West gold lodes. Fifty-seven holes of the 59-hole, ~5,500m aircore drilling program testing regional targets – Capital South, Barrack and Archer – were completed within the reporting period.
The two remaining holes were completed in early July as planned. BMG expects initial assays in the coming weeks.
See the full activities report here.
