Western Australian focused gold and lithium explorer BMG Resources Limited (ASX:BMG) has intersected pegmatites in multiple holes at its Bullabulling project in the Coolgardie region of the Eastern Goldfields in Western Australia.
The completed drilling program of 20 RC holes for 1,485m was developed to test lithium and gold targets at Bullabulling.
Pegmatites were confirmed in multiple holes including at the Ubini prospect, with 28 metres of pegmatite from two metres, and at Purple Panda where multiple intercepts of pegmatites and felsic intrusives along the line.
A two-hole fence testing historic gold mineralisation returned about 1.25 metres of quartz vein in the interpreted lode location from 53 metres.
BMG Managing Director Bruce McCracken said the company’s first drilling program at Bullabulling had shown early potential for gold and lithium discovery, with the Ubini and Purple Panda prospects emerging as early targets.
McCracken said: “Assays are due in coming weeks that will help to inform the company’s decision regarding its option to acquire Bullabulling, which is open until mid-June.
“Coolgardie has a long history of gold production and an increasing significance as one of Western Australia’s most prospective lithium regions.
“The Bullabulling Project presents an opportunity for BMG to acquire an early-stage exploration project in the neighbourhood of multi-generational mining operations.”
Historic exploration at Bullabulling identified widespread pegmatite occurrences within the project tenure, several of which contain lithium mineralisation assaying greater than one per cent lithium.
Recent work undertaken by BMG confirmed the LCT characteristics of these pegmatites through geochemical assay ratio analysis.
The presence of evolved mineral phases such as tantalite, cassiterite, amblygonite, zinnwaldite, lepidolite and spodumene, coupled with favourable textures, underlines the exploration potential of the system for economically significant lithium mineralisation.
On 15 February, BMG entered into a four-month binding option agreement to acquire, at BMG’s discretion, a 100 per cent interest in the Bullabulling Project.