BPM Secures Forelands Gold Project with High-Grade Intercepts up to 65.8 g/t Au

Strategic Acquisition in a Premier Gold Belt

BPM Minerals Ltd (ASX, BPM) has taken a significant step forward in its exploration ambitions by entering into exclusive option agreements to acquire the Forelands Gold Project, a district-scale asset located approximately 150 kilometres east of Kalgoorlie in Western Australia. This project spans an impressive ~630 square kilometres along the Yilgarn Craton–Albany Fraser Orogen margin, a geological setting analogous to the renowned Tropicana gold deposit, which boasts over 8 million ounces of gold.

The Forelands Project is distinguished by its high-grade, near-surface visible gold mineralisation, particularly at the Beachcomber prospect. Historical drilling has revealed exceptional intercepts, including a standout 3 metres at 65.8 grams per tonne gold from 25 metres depth. These results underscore the project's potential as a near-term resource conversion opportunity, with mineralisation open in multiple directions.

Exploration Plans and Technical Expertise

BPM is poised to commence reverse circulation (RC) drilling at Beachcomber in the third quarter of 2025, aiming to confirm and expand on the historical high-grade mineralisation and advance towards a maiden JORC-compliant resource estimate. The company has bolstered its technical team by appointing the project vendors, Dr. Ross Chandler and Luke Blais, as Technical Advisor and Exploration Manager respectively. Both bring a proven track record, including recognition for their role in the discovery of the Yin rare earth element deposit.

Beyond Beachcomber, the project hosts multiple prospects such as Ambrosia, Sidecar, and Brass Monkey, which have returned encouraging gold intercepts and remain largely underexplored. The extensive 75-kilometre mineralised corridor offers numerous walk-up drill targets, supported by historical geophysical and geochemical data. BPM plans a comprehensive technical review to refine targeting and accelerate exploration across the project footprint.

Commercial and Operational Advantages

The Forelands Project benefits from excellent infrastructure access, straddling the Trans-Access Road and situated within 200 kilometres of several operating gold processing mills. This proximity enhances the potential for early-stage commercialisation through toll treatment arrangements, especially given the near-surface nature of the mineralisation and presence of visible gold.

The acquisition terms include a non-refundable option fee, cash payment, issuance of shares, and performance rights contingent on resource milestones, alongside a gross smelter return royalty payable to the vendors. Heritage agreements with native title groups are progressing, a critical step before drilling can commence.

Outlook and Market Context

BPM’s CEO Oliver Judd highlighted the project’s strategic importance, emphasizing the opportunity to unlock a high-grade gold system in an underexplored yet highly prospective region. With gold prices holding firm above US$5,000 per ounce, the timing aligns well with market fundamentals favoring precious metals exploration and development.

As BPM prepares for its upcoming drilling campaign, the market will be watching closely for results that could validate the project’s resource potential and set the stage for further growth. The company’s ability to leverage historical data, combined with fresh technical insights, positions it well to advance the Forelands Project towards commercial viability.