BMG Resources Ltd (ASX:BMG) has completed the acquisition of Oracle Mining Limited that could see the company getting access to the three highly prospective Western Australian gold projects.
Initial work program at Abercromby Gold Project
The Abercromby Project is in the Wiluna district, one of Western Australia’s most significant gold producing regions with a gold endowment of 40 million ounces, second only to Kalgoorlie globally in terms of historical production.
BMG is now focused on undertaking its initial work program at Abercromby, with 5,000 metres of reverse circulation and diamond drilling planned to be undertaken at the Capital prospect.
This will be a combination of confirmatory holes and exploration drilling to test the extent of the mineralisation down-dip and along strike from the thick, high-grade gold intercepts by previous explorers.
Planning is well advanced, and a Program of Works has already been lodged with the Western Australian Department of Mines, Industry Regulation and Safety.
BMG is engaging with a drilling contractor to undertake the program and anticipates it should be in a position to start drilling by early November 2020.
“Key moment for the company”
BMG chairman Greg Hancock said: “The completion of the Oracle acquisition marks a key moment for the company.
”We’re excited by the potential of the assets, and look forward to progressing our initial work program as a matter of priority.”