BMG Raises $600,000 to fast-track WA gold project | Australian Markets

BMG Resources Limited has bolstered its exploration ambitions with a $600,000 capital raise by means of a placement of 75 million new shares at $0.008 every to subtle and institutional traders.

The funds will drive a scoping research for the company’s Abercromby gold project and drilling at its Bullabulling gold project, capitalising on intensive high-grade potential in Western Australia’s premier gold districts.

The Abercromby project, south of Wiluna, hosts a maiden mineral useful resource estimate of 11.12 million tonnes at 1.45 grams per tonne (g/t) gold for 518,000 ounces, together with a high-grade 208,000 ounces at 4.09g/t.

Three key separate drill intercepts embrace 57.5m assaying 5.73g/t gold from 80m, 30m at 10.01g/t gold from 164m, and 26m at 6.07g/t gold from 192m with 7m at 21.22g/t gold.

The useful resource, on a granted mining lease and close to Northern Star’s 3.0Mt per yr Jundee and Wiluna’s 2.1Mt per yr gold processing plants, is proven by metallurgical testwork to be free-milling and amenable to carbon-in-leach processing, with 93-95 per cent gold recoveries.

A scoping research is underway to assess a low-capex, fast-payback mining state of affairs. Only about 1.2 kilometres of a 6km potential strike has been drilled to date.

That potential strike contains hits in BMG’s Capital North prospect, together with 58m at 1.71g/t gold from 77m and 8m going 14.47g/t gold from 114m, signalling enlargement potential, whereas its different Capital South, Archer and Barrack prospects on the identical development have delivered 4m working 3.58g/t gold from 52m and 20m at 0.43g/t gold from 36m.

The company’s Bullabulling project, 1.5km from the two.3-million-ounce Bullabulling gold mine acquired by Minerals 260 in 2025, has yielded shallow high-grade hits, together with 2m at a healthy 18.1g/t gold from 34m, 4m going 10.12g/t gold from 32m and 12m working 2.3g/t gold from 53m.

Recent drilling, with assays due in August, focused a tantalising north-south gold development extending from the previous Bullabulling mine into BMG’s tenure, which can also be enhanced by entry to intensive Coolgardie and Kalgoorlie infrastructure, together with the Great Eastern Highway and trans-Australian rail system.

BMG’s Invincible project, alongside a 12.5km stretch of the Warrawoona Shear Zone, sits close to Creasy Group’s 1.5-million-ounce Warrawoona gold mine, which was owned by Callidus Resources and purchased by the Creasy-led West Coast Gold in 2025.

Historical workings, together with the Invincible mine, which produced 21.8 kilograms gold at 1600.85g/t and a 5km-long geochemical anomaly, spotlight the native high-grade potential. Drilling is ready on a heritage survey, following an settlement signed with the Nyamal Aboriginal Corporation.

BMG’s South Boddington project, at the moment beneath exploration licence purposes, lies alongside strike from Newmont’s giant 40-million-ounce Boddington copper-gold-molybdenum deposit within the Saddleback Greenstone Belt and provides untapped potential in an underexplored area.

We are more than happy to secure further funds with no low cost to the final closing price, making certain minimal dilution… [with funds for] a scoping research for a potential development at Abercromby and pending exploration drill outcomes at Bullabulling.

With $600,000 in recent capital, BMG is well-funded to advance its strategic property, leveraging high-grade discoveries and proximity to world-class infrastructure.

BMG Resources’ $600,000 capital raise positions it to unlock the total potential of its Abercromby and Bullabulling initiatives, with different high-grade gold intercepts and strategic areas close to main mines signalling strong growth prospects in WA’s various goldfields.

Is your ASX-listed company doing one thing fascinating? Contact: [email protected]