- BPM Minerals (BPM) has completed a 139-hole aircore drilling program at its Nepean Project in Western Australia
- Initial field work identified multiple high-priority targets, which were followed up in this program
- While assays are yet to be received, drilling has intersected ultramafic rocks, which are considered prospective for nickel mineralisation
- According to CEO Chris Swallow, this first drilling program is only the start of many exploration activities planned at Nepean
- Company shares are down 14.8 per cent and trading at 23 cents
BPM Minerals (BPM) has completed a maiden aircore drilling program at its Nepean Project in Western Australia.
The Nepean Project covers roughly 39 square kilometres and is situated 500 kilometres east of Perth and 30 kilometres south-southwest of Coolgardie.
Just four kilometres north of the project is the historical Nepean nickel sulphide deposit, which was discovered in 1968. While some exploration was conducted in the 1980s, the project is largely underexplored.
So, BPM’s recent program marks the first time systematic regional exploration has been completed across the entire project.
Drilling began in early February and followed initial reconnaissance and interpretation work, which identified multiple high-priority targets.
The program comprised 139 holes, for 5836 metres, to follow up on these targets.
Pleasingly, drilling successfully intersected greenstone lithologies under cover, including ultramafic rocks that are considered prospective for nickel mineralisation.
First assays from five-metre composite samples are expected to be received in the next few weeks.
“This first drilling program is just the start of a series of exploration activities planned at Nepean. The company also looks forward to commencing exploration on the soon to be granted Santy project,” CEO Chris Swallow said.
All holes were drilled to enable geological interpretation, which, in conjunction with downhole geochemistry, will help to plan phase two exploration work.
Company shares are down 14.8 per cent and trading at 23 cents at 2:35 pm AEDT.