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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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EIS Grant for Minnie Springs Copper Porphyry Drilling
- Augustus Minerals has been granted a co-funded drilling grant of up to $110,000 for 2 x 700m deep diamond drill holes under the WA Government’s Exploration Incentive Scheme (EIS) for the Minnie Springs prospect.
- The deeper diamond drill program is designed to test and to provide a 550m deep, 1km wide geological/geochemical/structural cross-section through the large 3km long by 1km wide copper moly porphyry system, linking the Mo mineralised leucogranite to the extensive Cu in soil anomaly to the northeast.
- Previous RC drilling at Minnie Springs intersected mineralisation, geology and alteration halo consistent with the zoning of a large porphyry copper / moly system.
Andrew Ford, GM Exploration
“The Company is pleased to receive an EIS grant to complete deeper drilling at the Minnie Springs Copper Molybdenum Project. The resultant data will enable mapping of the lithology and alteration to a depth of 550m and potentially intersect, or provide vectors to, higher grade Mo-Cu mineralisation using a Mo-Cu porphyry geological model”.
Minnie Springs
Minnie Springs hosts porphyry related copper molybdenum mineralisation previously drilled and defined by Catalyst Metals. A molybdenum Exploration target has been defined for the historicdrillingareacomprisedofbetween12-84Mtasoutlinedbelow (Table 1 and Figure 1, 2.)1.
Table 1. Exploration target size estimate for Minnie Springs Molybdenum depositNote: Based on ~300 ppm cut-off at 100% recovery.
The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resources, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
The planned diamond drilling will complement the recently completed 3,200m RC drilling program that infilled around hole MSRC012 (18m @ 0.37% Cu and 9.7 g/t Ag from 94m downhole, and 16m @ 0.38% Cu and 19.4g/t Ag from 121m downhole2) and tested the northern half of the 2km long copper-in soil anomaly. Assays from this program are expected to become available over the next month.
The limited exploration in the region, highlighted by 95% of the Ti-Tree project having no previous exploration, demonstrates the prospectivity of this underexplored mineral province.
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Quarterly Activity Report 31 March 2024
Figure 1. Fiery Creek Copper Prospect/Yataga Granodiorite summarizing rock (brown diamonds) and termite mound sample results (black crosses)
Continuing with its primary exploration focus on the Georgetown project in the latter half of 2023, EMU received assay results during the quarter from its second, in field reconnaissance work. The geochemical sampling programme covered the Fiery Creek high grade copper vein swarm and the Snake Creek prospects with significant element results returned from the Fiery Creek Copper (elevated Cu-Au-Ag-Bi-In-Pb-Sb-Te) and Snake Creek (elevated Pb-Ag-Au-Sb).
Whilst the survey was cut short due to inclement weather, EMU was encouraged by the significant success reflected in the assays results. The results from mineralogical studies confirmed EMU’s interpretation of an indicative, scale Copper-Porphyry system at the Fiery Creek prospect and was a highlight of the survey with new information building on the scale and potential of the prospect1.
Assay results returned included:
- Fiery Creek rock assay results up to 23.5% Cu, 0.27ppm Au, 460ppm Ag, 1.9% Bi, 89ppm In, 2.7% Pb, 667ppm Sb, 1470ppm Zn2.
- evidence of strong potential for the presence of critical and strategic minerals (Cu, Bi, In), with precious and base metals.
- evidence of alteration mineralogy, mineralisation geochemistry and areal extent of the Fiery Creek quartz-Cu-Bi vein swarm strongly suggesting a previously unrecognised subjacent porphyry Cu-Mo system.
- Yataga Granitoid Complex termite mound and coincident rock chip sampling returned several anomalous polymetallic zones for follow up.
- Snake Creek Prospect assays returned 0.20ppm Au, 390ppm Ag, 22.4% Pb, 464ppm Sb1.
Significant results were returned from the Fiery Creek Copper prospect with elevated Cu-Au- Ag-Bi-In-Pb-Sb-Te and from the Snake Creek prospect with elevated Pb-Ag-Au-Sb.
The elevated pathfinder element results and a macro-petrology assessment3 of rock samples completed by Mr Nigel Maund, Consulting Economic Geologist, from the previously unexplored Fiery Creek Prospect, point to the discovery of a porphyry copper system.
The sampling program assessed a number of high-priority prospects within the Georgetown Project tenements utilising termite mound and outcrop rock chip geochemistry. A total of 46 rock chip and 489 termite mound samples were collected across eight prospects.
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Basin Energy Mining Exploration Entity or Oil and Gas Exploration Entity Quarterly Cash Flow Report
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