Generates Multiple Targets From Reconnaissance Drill Programme
BPM Minerals Limited (ASX:BPM) has identified a number of follow-up targets in the assay results from its maiden drilling campaign at its 100%-owned Nepean Project, located in Western Australia.
In March this year, BPM completed a reconnaissance 139-hole maiden aircore (AC) drill program (totalling 5,836m). Holes NAC0001-NAC0029 targeted nickel and gold anomalies identified in previous drilling completed by Metals Exploration Ltd (MLX) more than 20 years ago.
Remaining holes NAC0029-NAC0139 were drilled on a regional 400m N-S x 200m E-W reconnaissance grid across the area interpreted as Archean Greenstone Terrane, aiming to identify anomalism via low-level dispersion within the regolith.
“To generate multiple targets from the company’s maiden reconnaissance drill program is a great start to our exploration activities at Nepean,” CEO, Chris Swallow, said.
“The variety of identified targets across both nickel and gold at a broad grid spacing make Nepean an exciting exploration project with the potential to host a significant gold or nickel deposit.
Nickel Results
Drilling generated three priority nickel anomalies, N1-N3 with associated cobalt.
N1 – Corresponds to the historic Jim’s Anomaly drilled by MLX, intersecting anomalous nickel in 6 holes with best downhole intercepts ranging from 1,760 ppm Ni to 5,200 ppm Ni over 1.5m intervals.
Results included cobalt values up to 815 ppm and copper to 190 ppm. Selected samples assayed for gold returned up to 0.075 g/t Au over 1.5m1.
Holes NAC0013-NAC0029 were drilled at an azimuth 135 degrees, on a dip of -60 degrees along the same drill traverse as MLX to test the anomaly for nickel, copper, cobalt and gold.
AC holes NAC0013-NAC0029 were sampled on 5m composite intervals intersecting thick anomalous zones, defined by a >1,000 ppm nickel value, ranging from 19m to 47m in thickness, containing up to 4,000 ppm Ni, 199 ppm Cu and 590 ppm Co. The highest Au value recorded was 0.05 ppm Au over a composite 5m interval.
The drill hole anomalism at the N1 (Jim’s) and N2 anomalies are spatially associated with a northerly striking magnetic feature, interpreted to be ultramafic lithologies. Drilling intersected mafic to ultramafic rocks in drilling across the N1 (Jim’s) Anomaly.
N2 – Defined by BPM reconnaissance hole NAC0084 and located 900m to the SSW of N1 (Jim’s) returned a 5m composite sample interval (30m – 35m) of 1,200 ppm Ni and 640 ppm Co with the hole terminated in ultramafic rocks.
N3 – Relates to historical hole completed by Alliance Resources Ltd, hole NASC3 located 400m west of N1 where a 4m interval from 16m to 20m returned 1,600 ppm Ni and 200 ppm Cu.
Gold Results
The drilling produced six gold anomalies Au1-Au6. The targets were generated by adding gold values for each down hole assay producing a total (composite) downhole gold content relating to that hole.
Total downhole results of +0.10 ppm (0.10 g/t) Au total were considered anomalous. The maximum total downhole result for the programme was 0.43 ppm Au in hole NAC0067 with a single best sample interval of 0.18 ppm Au from EOH NAC0061.
Target Au1 – Corresponds to drill hole NAC0061 that returned 0.18 ppm Au at EOH, from 5m to 6m in granite. It is the western most drill hole on the line and lies near a major NNE trending structure within a target area identified during the structural interpretation.
Target Au2 – Occurs associated with the Ni, Cu and Co anomalism at N1 (Jim’s anomaly) where drilling by MLX intersected 0.075 g/t Au over 5ft (1.5m). BPM drilling returned five holes NAC0014, 15, 17, 18 and 19 containing 5m composite samples of 0.05 ppm Au and 3 holes with downhole total gold values >0.10 ppm Au demonstrating the potential for gold mineralisation.
Target Au3 – A broad area of anomalism measuring approximately 1,600m x 500m consisting of 13 holes with total downhole values exceeding 0.10 ppm Au up to a maximum of 0.23 ppm Au.
The anomaly includes holes NAC0001-NAC0012, drilled to test the historical MLX drill line that returned up to 1.15 g/t Au over 10ft (3.1m)3. Best result, 0.08 ppm Au is a 5m composite sample in hole NAC0002 from 30m to 35m depth.
Within the larger anomaly both NAC0045 and NAC0052 shared peak values of 0.08 ppm Au from a 5m composite sample.
Target Au4 – Consists of 16 holes with total downhole gold values exceeding 0.10 ppm Au over an area measuring 1,400m x 900m that is open to the west. Maximum Au was returned from holes NAC0118 and NAC0127 with 5m composite assays of 0.08 ppm Au.
The anomaly corresponds to the interpreted western greenstone-granite contact at the intersection of a series of anatomising WNW trending faults.
Hole depths over the granite are also anomalous ranging from 35m to 63m indicating deeper weathering possibly related to alteration.
Target Au5 – A single hole anomaly, NAC0123 totalling 0.15 ppm Au downhole with a maximum value of 0.05 ppm in a 5m composite sample.
It mirrors Target A4, lying on the eastern greenstone–granite contact at the intersection of the WNW trending structure. It is open to the east.
Target Au6 – Lies at the southern end of the drill grid. NAC0033 contains a total downhole of 0.12 ppm Au with a maximum 5m composite of 0.05 ppm Au at end of hole from 53m to 54m. It occurs in granite on the northern end of an interpreted NE trending structure.
The company is encouraged by the regional nickel and gold results, with further work planned:
• Re-sampling at 1m intervals of the identified anomalous intercepts to identify peak values, whole rock (eg: MgO values) and elemental associations, enabling a further evaluation of anomalies, geology and prioritisation of targets.
• Planning of ground-based geophysics (EM) over the N1-N2 prospect area.
• Planning of detailed drone magnetics over the areas of interest.
• Infill drilling of nickel and gold anomalous areas.
