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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, WA
- 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 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 – refer 15 February ASX announcement ‘BMG Expands WA Lithium and Gold Footprint with Project Acquisition’. 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 early- stage exploration project in the neighbourhood of multi-generational mining operations.”
Figure 1 – Regional Location of Bullabulling Project, including significant regional Lithium projects and historic Bullabulling gold mine
Reverse Circulation Drilling Program undertaken by BMG
BMG has completed a 20 hole RC drill program for 1,485m, to test Lithium targets at Ubini, Red Panda and Purple Panda prospects, and gold target at the Poolmans prospect.
Figure 2 – RC drilling (drill collars shown in green) undertaken by BMG at Bullabulling Project
A single drill line of 8 holes, executed at Ubini returned 28m and 9m of pegmatite in holes 23BBRC016 and 23BBRC015 from surface and 48m downhole respectively. Cross sectional analysis of these intercepts indicates an easterly dip is likely and so these intercepts are narrower in true width than they appear in the trays.
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