Market Herald logo


Be the first with the news that moves the market
  • Drilling has commenced at BMG Resource’s lithium-brine Salar West project in Chile
  • Two holes will be targeted for 200 metres each, and drilling is expected to take three to four weeks
  • Sonic drilling is being used to decrease the chances of contaminating brine samples, according to the company
  • BMG’s share price is up 9.09 per cent today, currently sitting at $0.012 apiece

BMG Resources informed the market this morning a drilling program is underway at its Chilean lithium-brine project, Salar West.

Drilling commenced last week and will target two holes for 200 metres each. It is expected it will be completed within three to four weeks.

Hole one was selected based on results from a transient electromagnetic geophysical survey. The company believes, based on the findings, it may contain hypersaline lithium-bearing brine

Over the past fortnight BMG crew have finished mobilising the Superex sonic drill rig, which will be used during the drilling program.

The company advises using the sonic drill decreases the chance of contaminating the brine samples, and provides core without needing fluid lubrication, unlike diamond drilling.

BMG’s projects span across 20,00 hectares of Chile’s portion of the dubbed “Lithium Triangle”.

The Lithium Triangle encompasses parts of Chile, Bolivia and Argentina and is home to over 50 per cent of the world’s lithium resources and the highest grade deposits globally.

BMG also operates the Pajonales and Natalie lithium-brine projects in Chile.

BMG’s share price is up 9.09 per cent today, currently sitting at $0.012 apiece, as of AEST 1:02 pm.

BMG by the numbers
More From The Market Herald

" Anova Metals (ASX:AWV) begins drilling at Big Springs

Anova Metals (AWV) has begun the 2021 reverse circulation (RC) drilling program at its Big Springs gold project in Nevada.
Raiden Resources (ASX:RDN) - Managing Director, Dusko Ljubojevic

" Raiden Resources (ASX:RDN) completes tenement acquisition

Raiden Resources (RDN) has completed the acquisition of the nickel-copper-platinum group element (PGE) tenements adjacent to its Mt Sholl project.

" Alkane Resources (ASX:ALK) hits further gold at Molong

Alkane Resources (ALK) has received the latest batch of assay results from its Northern Molong Porphyry Project in New South Wales.
The Market Herald Video

" De Grey Mining (ASX:DEG) raises $125m for Mallina

De Grey Mining (DEG) has received firm commitments to raise $125 million for its Mallina Gold Project.