BMG Resources Limited (ASX: BMG) has identified multiple exploration targets at its 100% owned Invincible Gold Project – located in the central Pilbara of Western Australia through new aeromagnetic and radiometric geophysical survey data.
Managing Director, Bruce McCracken, said Invincible is one of BMG’s three highly prospective, 100%-owned gold exploration projects in the Tier 1 mining jurisdiction of Western Australia. BMG’s other projects are Abercromby near Wiluna and South Boddington in the State’s South West.
Artisanal workings recovered gold at very, very high grades at Invincible and support the potential for systematic modern exploration to generate a significant discovery at the project,” Mr McCracken said,
“This is the first time that detailed geophysical data has been acquired for Invincible and we are very pleased to see results highlight the strong prospectivity for gold mineralisation across the project area.
“With very limited historic drilling at Invincible, these new targets represent an excellent opportunity to explore for a new gold discovery in an area emerging as a major gold region of Western Australia.
“We look forward to ramping up exploration at Invincible in 2021, including the launch of our maiden drill programme, at a time when investor interest in new gold discoveries is strong.”
Reconnaissance field work and mapping to validate recently generated targets are planned during this March 2021 Quarter, together with further geochemical sampling to scope the extent of the existing anomalies and investigate new target areas.
Once this data has been compiled the company will finalise planning of the 2021 drill programme for Invincible and, subject to any unforeseen delays caused by the COVID-19 pandemic, will seek to commence drilling during the first half of calendar 2021.
Invincible, on Exploration Licence E45/4553, is located along strike from, and hosted by the same stratigraphy as, Calidus Resources’ 1.5Moz Au resource, which is in development.
Invincible hosts more than 12.5km of the Warrawoona Shear Zone – the mineralised trend that hosts Calidus’ gold resource and which is mostly comprised in the Klondyke deposit, as well as other prospective structures.
BMG’s recently completed an ultra-high resolution aeromagnetic and radiometric survey in its Invincible project area, comprised approximately 5,000 line km. Calidus used a similar geophysical survey to generate further gold targets at its adjacent ground.
In addition to aeromagnetic and radiometric data, the survey also produced a digital terrain model.
Results from the Invincible geophysical survey (magnetics and radiometrics) and high-resolution digital terrain model have been integrated with existing project data – notably geochemical and geological data – to generate multiple high-priority targets for gold exploration.