BPM Minerals has completed its first reverse circulation drilling at the high-grade Beachcomber Prospect, confirming a major gold system across a 75 km corridor and securing $3.5 million to fuel expanded 2026 exploration.
- Maiden 3,180m RC drilling program completed at Beachcomber Prospect
- Extensive soil geochemistry campaign across multiple Forelands prospects
- Regional study confirms >75 km gold mineralised corridor
- Heritage approvals secured for ongoing exploration
- A$3.5 million capital raising strengthens balance sheet
Maiden Drilling at Beachcomber Marks a New Chapter
BPM Minerals Limited (ASX – BPM) has taken a significant step forward in its exploration journey with the completion of its maiden reverse circulation (RC) drilling program at the Beachcomber Prospect, part of the Forelands Gold Project in Western Australia. The 24-hole, 3,180-metre campaign aimed to test and extend the known high-grade quartz lode system, with early field observations suggesting the vein was intersected in most holes. While assay results are still pending, the drilling sets the stage for defining the scale and geometry of mineralisation that could underpin future resource estimates.
Soil Sampling and Regional Targeting Bolster Exploration Pipeline
Complementing the drilling, BPM undertook an extensive soil geochemistry program, collecting 1,742 samples across key prospects including Sidecar, Ambrosia, Brass Monkey, and Beachcomber. This campaign aims to refine gold-in-soil anomalies and delineate mineralised structures along the critical Yellow Dam corridor, prioritising targets for follow-up drilling in 2026. A detailed regional exploration review further confirmed the presence of a major gold system extending over 75 kilometres, highlighting a pipeline of high-priority prospects and the large, untested Bonnie & Clyde soil anomaly.
Heritage Approvals and Tenement Grants Clear Path for 2026
Crucial groundwork was also laid in community engagement and regulatory compliance. BPM successfully completed a heritage survey with the Upurli Upurli Nguratja Aboriginal Corporation, securing approvals that enable ongoing drilling activities. The granting of key tenements, including E28/3513, further expands BPM’s operational footprint, allowing soil sampling and exploration to continue unhindered. These steps are vital in maintaining momentum and ensuring the company’s exploration plans for 2026 proceed smoothly.
Durack REE-Ti-Zr Project Shows Promising Rare Earth Potential
Beyond gold, BPM’s Durack project in East Kimberley is advancing towards drill readiness, buoyed by high-grade rare earth element (REE) rock chip results from the Chandler’s Find prospect. Exceptional total rare earth oxide values, including significant neodymium and praseodymium content, confirm a laterally extensive REE-Ti-Zr system. Petrographic analysis indicates favourable mineralisation hosted in coarse-grained monazite within heavy mineral sands, suggesting potential for a district-scale, high-tonnage deposit. Access agreements and heritage negotiations are progressing, with further sampling and metallurgical work planned ahead of the 2026 field season.
Financial Position Supports Aggressive Exploration
Financially, BPM is well positioned to execute its ambitious exploration agenda, having completed a strongly supported A$3.5 million placement during the quarter. With approximately A$5.6 million cash on hand at quarter-end and exploration expenditure of around A$302,000, the company has sufficient runway for at least nine quarters at current spending levels. This robust funding base provides confidence that BPM can sustain and expand its exploration efforts across its portfolio, including the strategically important Forelands and Durack projects.
Bottom Line?
As BPM awaits assay results and advances heritage agreements, the coming months will be pivotal in defining the scale of its gold and rare earth prospects.
Questions in the middle?
- What will the assay results from the maiden Beachcomber drilling reveal about resource potential?
- How will the large Bonnie & Clyde soil anomaly influence BPM’s exploration priorities?
- What timelines and terms will govern the completion of heritage agreements at Durack?