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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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This article includes content from BMG Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
High grade Assay Results Continue at Youanmi
- The latest batch of assays have been received from the 11,000m drilling program (both diamond core and reverse circulation) at the high gold-grade Youanmi Gold Project, located centrally in Western Australia’s prolific gold fields
- The recently-completed infill/exploration program aimed to improve resource confidence and open up corridors for resource growth; to underpin the Definitive Feasibility Study (DFS), and, additionally, provide sample material for ongoing metallurgical optimisation test-work for the DFS program
- Latest highlights from the program include:
- RXDD131: 4.38m @ 19.07 g/t Au from 387.98m,
- incl. 1.73m @ 41.43 g/t Au from 389.96m
- RXDD119: 4.56m @ 14.60 g/t Au from 220.64m
- RXDD115: 2.99m @ 21.11 g/t Au from 249.88m
- RXDD119: 4.0m @ 7.37 g/t Au from 162.0m
- RXDD132: 7.19m @ 3.90 g/t Au from 263.61m
- RXDD133: 2.83m @ 6.53 g/t Au from 431.00m
- RXDD128: 3.82m @ 4.51 g/t Au from 364.59m,
- incl. 1.73m @ 8.22 g/t Au from 364.59m
- incl. 1.73m @ 8.22 g/t Au from 364.59m
- RXDD122: 0.95m @ 13.50 g/t Au from 204.44m
- §These results further demonstrate the continuity of high- grade gold mineralisation along the Youanmi greenstone belt belt, and the potential for resource growth both at depth and along-strike, with discovery potential to the south
- 35,000m Step-up drill campaign well underway with the plan to bring forward ounces and increase the mine plan
The program focused on converting Inferred stopes at Pollard, United North and Youanmi Main to higher confidence Indicated classification and providing material for metallurgical testing for the upcoming Definitive Feasibility Study (DFS) – on track for H2 CY25.
This final consignment of diamond assay results are the fourth batch of assays results returned from the drill program and have been entirely drilled from the Pollard, Youanmi and United North areas (Figure 1).
Rox Resources’ Chief Executive Officer, Phillip Wilding, commented:
“It’s pleasing to round out the 11,000m RD and DD drilling program with another batch of excellent intercepts.
“More importantly, the program has significantly improved our knowledge of the high grade and underexplored Youanmi ore system, and shown that mineralisation remains open at depth.
“Next steps are to convert Inferred areas of the Resource to the higher confidence Indicated classification, and finalise key intercepts of sample material for metallurgical test work to feed into the Youanmi DFS.
“We are excited to have commenced the 35,000m Step-up program to potentially bring forward ounces in the mine plan and significantly increase the size of the Pollard ore zone.”
Youanmi Major Growth Drill program
Resource drilling has focused on converting selected Inferred stopes in the current Mineral Resource of 16.2Mt at 4.4g/t Au for 2.3Moz (Indicated: 10.7Mt at 4.5g/t Au for 1.6 Moz : Inferred 5.5Mt at 4.2g/t Au for 0.7 Moz) 1 to higher confidence Indicated classification at Pollard, United North and Youanmi Main as shown in plan on Figure 1. The drilling has also provided both sample material for metallurgical testing and valuable geological data for the pending Definitive Feasibility Study (“DFS”) planned for second half of 2025.
Figure 1: Plan view of the Youanmi Gold Project featuring drill hole collar locations and 2024 Resource outline overprinted on aerial photography
Outside of the immediate resource area, drilling was also conducted on near-mine exploration and focused on the Youanmi South prospect area, or Paddy’s Lode, first reporting high-grade intercepts in 20232. The drilling at Paddy’s has complimented the Company’s exploration strategy moving south along the Main Lode Shear Zone (MLSZ) and adding additional gold ounces to the Resource. Youanmi South has the potential to grow the Resource above the 103kozpa Production Target outlined in the recently completed Pre-Feasibility Study (“PFS”)3.
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This article includes content from Rox Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
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This article includes content from Alice Queen Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
