BPM Minerals (BPM.AX) has released the initial assay results from the Phase 2 drill program it completed on the Louie prospect, part of the Claw Gold project in Western Australia. The Louie prospect is located immediately south of and along strike of Capricorn Metals’ Mount Gibson gold project which currently contains approximately 3.24 million ounces of gold.
The aircore drill program was focused on testing the 1 kilometer long anomaly which was identified during the phase I drill program earlier this year. Initial aircore drill results included for instance 30 meters of 1.84 g/t gold starting at a depth of just 25 meters down hole. Even more importantly, there is a 5 meter interval containing 7.12 g/t gold starting at just 35 meters downhole. Other results were less impressive, but still contain very anomalous gold values between 0.39 g/t and 0.85 g/t gold.
On top of the aircore drill program, the company has also completed six reverse circulation drill holes targeting the down-dip extent of the aircore anomalies, and we hope to see the initial assay results soon. Additionally, BPM Minerals has kicked off yet another aircore drll program to complete an infill drill program, narrowing down the distance between holes to just 100 meters.
Disclosure: The author has no position in BPM Minerals. Please read the disclaimer.
