- BPM Minerals (BPM) has been granted exploration licences 59/2407 and 59/2437, which comprise the Santy Gold Project in Western Australia
- The project area covers 663 square kilometres, including 412 square kilometres of neighbouring ground under application
- The area is considered prospective for gold and base metal mineralisation but is currently underexplored
- The company is planning a maiden drilling program for the project, which will target several gold and base metal areas
- BPM Minerals is up 6.52 per cent and trading at 24 cents per share
BPM Minerals (BPM) has been granted exploration licences 59/2407 and 59/2437, which comprise the Santy Gold Project in Western Australia.
The Santy Gold Project is located roughly 430 kilometres north of WA’s capital city Perth and 130 kilometres northeast of Geraldton.
The two exploration licences granted to BPM Minerals cover 251 square kilometres, although a further 412 square kilometres of neighbouring ground is currently under application. The new ground is located nearby Chalice Mining’s (CHN) properties in the Murchison region of WA.
The Santy Project area is considered to be prospective for gold and base metal mineralisation. It is situated nearby the Mixy and Royal Standard deposits, which have both produced high-grade gold results.
However, the project area is currently underexplored, with an interpreted 80 per cent of its tenure under transported cover. As such, Santy has not yet seen any previous gold-focussed drilling, a fact which BPM Minerals intends to change.
The company is planning to conduct a maiden drilling program at the Santy Gold Project, which will drill more than 10,000 metres to target several gold and base metal areas within the exploration licences.
BPM Minerals already has heritage survey work underway onsite, in preparation for the drilling program. The company considers that first pass aircore drilling to be the most appropriate first pass exploration tool for testing for mineralisation under cover.
In other news, the company has submitted samples from the maiden aircore drill program at its Nepean Project to a laboratory for analysis. The assay results of these samples should become available in the weeks to come.
BPM Minerals is up 6.52 per cent, trading at 24 cents per share at 10:47 am AEST.