BMG Resources Limited (ASX: BMG) has completed a drilling programme of 20 RC holes for 1,485m to test lithium and gold targets at its Bullabulling Project located in Coolgardie region of the Eastern Goldfields in Western Australia.
BMG Resources managing director Bruce McCracken said: “BMG’s first drilling programme at the Bullabulling Project has shown early potential for gold and lithium discovery, with the Ubini and Purple Panda prospects emerging as early targets.”
Previous historic exploration identified widespread pegmatite occurrences within the project tenure, several of which contain lithium mineralization assaying greater than 1% Li2O.
Recent work undertaken by BMG confirmed the LCT characteristics of pegmatites through geochemical assay ratio analysis. The presence of evolved mineral phases such as tantalite, cassiterite, amblygonite, zinnwaldite, lepidolite, and spodumene, coupled with favourable textures, underlines the exploration potential of the system for economically significant lithium mineralization.
The drilling programme has confirmed pegmatites in multiple holes, with the Ubini and Purple Panda prospects emerging as early targets. On 15 February, BMG entered into a four-month binding option agreement to acquire, at BMG’s discretion, a 100% interest in the Bullabulling Project.
“Assays are due in coming weeks that will help to inform the company’s decision regarding its Option to acquire Bullabulling, which is open until mid-June “Coolgardie has a long history of gold production and an increasing significance as one of Western Australia’s most prospective lithium regions. The Bullabulling Project presents an opportunity for BMG.” Bruce added.
To find out more, please visit http://www.bmgl.com.au
