BMG Resources (ASX:BMG) Expands Drilling Programmes
Abercromby Gold Project Update
BMG Resources has advanced preparations for an expanded Phase 2 drill programme at the Abercromby Gold Project, aiming to grow the existing Mineral Resource Estimate (MRE) of 518,000oz Au. Assays from the Phase 1 drill programme are expected shortly after January submissions, following expedited processing despite delays during the holiday period.
Bullabulling Project Developments
Minerals 260 Limited has acquired the Bullabulling Gold Mine for A$166.5 million, enhancing BMG’s Bullabulling Project. A new drilling programme is set to begin in late March 2025 to explore early-stage gold discoveries, including high-grade intersections from recent drilling activities.
Executive Comments
John Prineas, BMG’s Non-Executive Chairman, stated, “With thick, high-grade gold intercepts along strike from the December drilling, the assays for the latest holes are keenly awaited. The results have the potential to materially expand the known resource footprint, and also convert inferred resources to the higher confidence indicated category.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.