BPM Minerals (ASX: BPM) Advances Exploration at Claw Gold Project

Key Highlights:

• Phase 2 AC/RC drilling at Claw Gold Project scheduled for mid-August.
• Louie gold anomaly to be further tested with a 3,000m drilling program.
• Claw Gold Project located along strike of Capricorn Metals’ 3.24Moz Mt Gibson Gold Project.
• Initial phase identified significant gold anomalies, including 16m @ 0.31ppm Au.
• Upcoming Entitlement Offer to raise approximately $110,000.

BPM Minerals Ltd (ASX: BPM) is gearing up for the second phase of drilling at its Claw Gold Project, with activities set to commence in mid-August following the receipt of final drilling approvals. This 3,000-meter AC/RC drilling program aims to test the Louie gold anomaly, a 1km long, 100ppb gold in regolith anomaly located immediately along the strike of Capricorn Metals Ltd.'s Mt Gibson Gold Project.

The Claw Gold Project spans 33km of highly prospective strike, positioned near Capricorn Metals’ substantial gold resource. The first phase of drilling at Louie earlier this year identified a coherent gold anomaly, with highlights such as 16m @ 0.31ppm Au from 18m, including 1m @ 1.08ppm Au from 27m. This upcoming drilling phase will build on the 8,890m already completed in Q1 2024.

BPM Minerals CEO Oliver Judd expressed optimism about the upcoming drilling campaign, emphasizing the project's strategic proximity to large gold resources and the promising initial exploration results. The company has also completed environmental and heritage surveys with the Badimia Native Title Group, ensuring responsible exploration practices.

(Source: $BPM ASX announcement)

In addition to gold exploration, BPM Minerals is advancing its high-grade rare earth element Durack Project. The company's diverse portfolio and strategic landholdings across Western Australia position it well for significant discoveries and value creation.

To support these exploration activities, BPM Minerals plans to offer eligible shareholders the opportunity to participate in a non-renounceable Entitlement Offer, aiming to raise approximately $110,000. This offer will allow shareholders to subscribe for 1 New Option for every 3 BPM shares held, at an issue price of A$0.005 per New Option.

As of today, BPM Minerals' shares are trading at A$0.051.