- Shares in BMG Resources (BMG) were up as much as 52.8 per cent after high-grade gold was intersected at the Capital Prospect within the Abercromby Project in WA
- Results have been received for more than 2600 metres of diamond drilling with new grades peaking at 11.71g/t gold
- The results have continued to enhance the potential of Abercromby with the next phase of work planned to further outline the mineralisation footprint at Capital
- BMG will also test new targets identified from the aircore program and provide additional resource definition to support a maiden JORC-compliant resource estimate
- Shares in BMG are still up 50 per cent and are trading at 5.4 cents
Shares in BMG Resources (BMG) were up as much as 52.8 per cent after high-grade gold was intersected at the Capital Prospect within the Abercromby Project in WA.
Results have been received for 2613 metres of diamond drilling completed in February with results significantly adding to the known mineralised envelope at Capital which remains open at depth and along strike.
New results include 10 metres at 11.71g/t gold from 295 metres, 13.8 metres at 6.56g/t gold from 446 metres and 31 metres at 6.18g/t gold from 162 metres.
These results have continued to enhance the potential of Abercromby with the next phase of work planned to further outline the mineralisation footprint at Capital.
BMG will also test new targets identified from an aircore program and plans to undertake further drilling to provide additional resource definition to support a maiden JORC-compliant resource estimate.
“In one single program, we have more than doubled the likely size of the deposit, intersected extremely high-grade gold in fresh rock, and proven the system is fertile at depth via the deepest drilling undertaken at the project to date,” Managing Director Bruce McCracken said.
“Our geological and grade models have again successfully targeted mineralisation at or very close to predicted locations, with extrapolation holding true at distances in excess of 250 metres.”
“The nature and style of mineralisation is becoming well recognised, and the company is in a great position to leverage further success with the drill bit from here.”
Shares in BMG were still up 52.8 per cent and were trading at 5.5 cents at 12:04 pm AEST.