BPM Minerals uncovers high-grade gold anomaly at Claw’s Louie prospect in WA

An asset that was highlighted in the lead-up to BPM Minerals’ (ASX: BPM) listing in December 2020 has turned up trumps with encouraging high-grade returns from drilling results at the company’s Claw project in Western Australia.

The results from the 30-hole second phase of aircore drilling at Claw’s Louie prospect include 30 metres at 1.84 grams per tonne gold from 25m and 5m at 7.12g/t gold from 35m.

Claw contains 33km of highly-prospective strike immediately south of Capricorn Metals’ (ASX: CMM) Mount Gibson gold project (MGGP) that is set to become one of WA’s next major gold mines.

‘Greenfields discovery’

“We’re delighted to have received exceptional results from Louie in this second round of drilling at the Claw gold project,” BPM chief executive officer Oliver Judd said.

“This is shaping as a highly promising greenfields discovery in one of WA’s most prospective gold corridors.”

“With additional drilling nearly complete, we are eager to further delineate the high-grade core of this 1km regolith anomaly.”

“The upcoming assays, due within the month, will guide us toward deeper reverse circulation (RC) drilling.”

With the second phase of Claw drilling results now arriving, BPM is focusing on obtaining approvals for Phase 3, targeted to commence in late 2024.

Fundamental change

The Claw project experienced a fundamental change in July 2021, with Capricorn acquiring the MGGP immediately to its north.

It subsequently released a JORC-compliant mineral resource estimate of 2.083 million ounces at 0.8 g/t from the project.

Capricorn has subsequently advanced the site and is now awaiting final approvals for the recommencement of mining at Mt Gibson, expected in early 2025.

Anomaly testing

Over the past three years, BPM has progressed Claw from application through to grant and undertaken multiple exploration programs, including the current drilling campaign, with the aim of making an economic gold discovery.

The drilling program in progress is focused on testing the 1km long anomaly identified during Phase 1 drilling earlier this year that shares similar geology to the gold mineralisation found in the north of the MGGP.

The Louie prospect is located on the northern border of Claw in an area immediately south and along strike of a series of significant gold resources that make up the current southern extent of Capricorn’s MGGP, including the high-grade Sundance gold discovery made earlier in 2024.

Six RC holes for 942m have been completed targeting beneath the mineralisation intersected earlier in the year.