BMG hits more high-grade gold at Bullabulling

BMG Resources has nailed multiple zones of high-grade gold mineralisation at its 100%-owned Bullabulling gold project near Coolgardie, with fresh RC drilling confirming the presence of several lodes across its northern prospects.

The company’s first follow-up campaign at Bullabulling North has extended the strike of the near-surface, high-grade gold mineralisation with standout results from two key prospects; Poolmans and Peaches.

At Poolmans, new assays from one drill hole delivered 2m at a serious 3.8 grams per tonne gold from 47m and 2m at a stellar 8.5g/t gold from 78m, including 1m at an eye-catching 15.5g/t from 78m to end of hole, building on previous hits such as 4m at 10.12g/t gold from 32m.

Meanwhile, maiden drilling at Peaches confirmed a new gold-bearing zone with 2m at 4.38g/t gold from 75m, the first ever gold intercepts at that prospect.

The company says the mineralisation at Bullabulling North sits in quartz-veined granodiorite, the same host rock as the nearby 2.3-million-ounce Bullabulling Gold Mine, owned by Minerals 260 and described as one of Australia’s biggest near-term gold projects.

The main north–south gold trend running through the Bullabulling Mine continues directly into BMG’s ground, within an interpreted continuity of north-south striking greenstone lithologies. The two properties also enclose the same or very similar prospective ultramafic rocks.

Adding to the excitement, new high-grade gold discoveries by Minerals 260 just across the boundary, including 22m at 3.25g/t gold and a huge 162m at 1.1g/t gold, appear to extend into BMG’s Bullabulling West area, suggesting the two systems may be linked according to the company.

Drilling began in July this year and so far, 23 drill holes have been completed for 1886m. 

BMG Resources non-executive chairman John Prineas said: “At the Pullman’s prospect, drilling is interpreted to have identified three high-grade gold lodes and expanded the known extent of the mineralisation. This prospect is emerging as a very exciting opportunity and follow-up drilling is being planned to scope out the full extent of the high-grade gold currencies.”

“At the Peaches Prospect high-grade gold has been discovered in our first drilling here and follow-up drilling is now planned to test the continuity and extent this high-grade gold discovery.”

In wake of the surging gold price, BMG is also simultaneously fast-tracking a  scoping study for its flagship Abercromby Project, located in the world-class Agnew-Wiluna Greenstone Belt of Western Australia, which it perceives as a robust and exceedingly attractive development opportunity.  

The free milling 518,000-ounce gold resource is handily located on a granted mining lease and proximal to operating mills offering what the company considers as an accelerated pathway to potential production. Management says it is fielding unsolicited expressions of interest for commercial arrangements for the potential development of Abercromby and is continuing discussions on these while progressing the scoping study.

BMG also holds two other strategically located tenement blocks within shouting distance of the Bullabulling gold mine. These include Bullabulling West, centred a mere 4.5km west of the Bullabulling gold mine and Bullabulling East, a smaller holding on a separate thin greenstone belt, 11.5km east of the big mine.

Looking ahead, BMG is planning a major drill program in 2025 to follow up results at the Bullabulling North and West areas and further define the extent and continuity of the high-grade gold mineralisation.  It will also test the potential for similar mineralisation in the Bullabulling West area. 

BMG believes the region’s geological continuity and proven mineral endowment place it in a prime position to tap into one of the Eastern Goldfields’ most exciting emerging gold trends. With the gold price soaring, this may well be the start of something transformational for BMG. 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au