- BPM Minerals (BPM) has received assay results from drilling completed at the WA based Nepean Project
- A reconnaissance, 139-hole maiden aircore drill program, covering 5836 metres, wound up in March
- Results have generated three priority nickel anomalies, one of which has confirmed a 200 metre-long nickel anomaly, up to 47 metres thick, which remains open to the southeast
- Drilling also produced six gold anomalies with a maximum intercept of one metre at 0.18 parts per million gold from reconnaissance holes
- A high-powered ground moving-loop electromagnetic (MLEM) survey is planned to identify potential bedrock conductors
- Shares last traded 3.8 per cent higher at 27 cents
BPM Minerals (BPM) has received assay results from drilling completed at the WA based Nepean Project.
The reconnaissance, 139-hole maiden aircore drill program, covering 5836 metres, wound up in March.
Of the drill holes, 29 followed up nickel and gold anomalies identified during previous drilling by Metals Exploration (MLX) over 20 years ago.
The other holes were drilled across an area termed the Archean Greenstone Terrane, and aimed to identify anomalism via low-level dispersion within the regolith.
From the results, three priority nickel anomalies have been generated with associated cobalt.
The initial zone, N1, corresponds to the historical Jim’s Anomaly drilled by MLX and confirmed a 200 metre-long nickel anomaly, up to 47 metres thick, which remains open to the southeast.
Best intercepts included 19 metres at 0.29 per cent nickel from 25 metres, including 15 metres at 0.36 per cent nickel from 25 metres and another hit of 33 metres at 0.20 per cent nickel from 20 metres, including five metres at 0.33 per cent nickel from 25 metres.
The drilling also produced six gold anomalies with a maximum intercept of one metre 0.18 parts per million gold from reconnaissance holes.
Drilling also successfully identified intercalated ultramafic and mafic rocks which could be fertile for nickel sulphide mineralisation.
The company plans to follow up the results with a high-powered ground moving-loop electromagnetic (MLEM) survey to identify potential bedrock conductors.
Further aircore drilling is also planned to refine nickel and gold targets for a potential deeper diamond drilling and reverse circulation program.
Shares last traded 3.8 per cent higher at 27 cents.