- BPM Minerals (BPM) has started drilling at its Nepean Project, located near Coolgardie in Western Australia
- Under the program, 7000 metres will be drilled across 139 holes to test for nickel and gold
- BPM is expecting the first assay results from the program to be received next month
- On the market this afternoon, BPM is up 7.69 per cent and is trading at 28 cents per share
BPM Minerals (BPM) has commenced its maiden drilling program at the Nepean Nickel-Gold Project, located near Coolgardie in Western Australia.
Under the program, 7000 metres of air-core drilling will be completed at the project. The 139-hole program will test for nickel sulphides and gold mineralisation.
The drilling follows the initial reconnaissance and interpretation work, which identified a number of high-priority targets. Notably, access line clearing was briefly delayed due to heavy rains in the Goldfields region.
BPM is expecting the first assay results from the program to be received next month.
“This drill program has been designed to test the existing anomalies identified by the limited Alliance and MLX drilling, with additional regional drilling to test for potential nickel and gold mineralisation within the interpreted greenstone terrain,” Exploration Manager Lyle Thorne said.
Meanwhile, freshly appointed CEO Chris Swallow said it’s been a busy period for the company.
“With board and management working hard to push the company through the Initial Public Offering while concurrently undertaking Project due diligence, site
visits and undertaking the initial geological mapping, interpretation and targeting,” he said.
“It’s an exciting time for the company as we look forward to the first batch of assays due mid next month,” he added.
On the market this afternoon, BPM is up 7.69 per cent and is trading at 28 cents per share at 2:14 pm AEDT.