BMG Resources (ASX:BMG) Accelerates Gold Exploration in Western Australia
Operational Achievements
BMG Resources has announced new exploration programs at its Bullabulling and Invincible Gold Projects in Western Australia. The Bullabulling Project, adjacent to the Bullabulling Gold Mine acquired by Minerals 260 Limited for A$156.5 million, has confirmed extensive near-surface high-grade gold through recent drilling, including 2m @ 18.1 g/t Au. A 3,000m drill programme is planned for Q2 2025. The Invincible Project, near the Warrawoona Gold Mine acquired by West Coast Gold Pty Ltd for over A$148 million, hosts high-grade historical gold mining at 1,600.85 g/t Au. Drilling at Invincible awaits the completion of heritage surveys.
Financial Performance
The company’s maiden resource at the Abercromby Gold Project stands at 518,000 oz Au, with significant potential for resource expansion through ongoing drilling. Metallurgical testwork has confirmed high gold recoveries between 93% to 95%, supporting traditional carbon-in-leach processing.
Future Outlook
BMG Resources is set to enhance its exploration efforts with comprehensive drilling programs aimed at unlocking substantial gold mineralisation at both projects. Assays for the Abercromby drill programme are expected within the next two weeks, with further phases planned based on initial results.
Executive Comments
John Prineas, BMG’s Non-Executive Chairman, stated, “The record gold prices are shining a bright light on our three 100% owned gold projects in Western Australia. As we await assays for the recent drilling at our Abercromby Gold Project, we are excited to announce new exploration programs at the Bullabulling and Invincible Gold Projects. Both these projects now share borders with projects being advanced by two of Western Australia’s most successful mining investors – Mark Creasy and Tim Goyder – following recent M&A deals. We look forward to announcing further details of field programmes at these underexplored, highly prospective and optimally located gold projects.”
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 recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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