BMG Resources Limited has bolstered its exploration ambitions with a $600,000 capital raise through a placement of 75 million new shares at $0.008 each to sophisticated and institutional investors.
The funds will drive a scoping study for the company’s Abercromby gold project and drilling at its Bullabulling gold project, capitalising on extensive high-grade potential in Western Australia’s premier gold districts.
The Abercromby project, south of Wiluna, hosts a maiden mineral resource estimate of 11.12 million tonnes at 1.45 grams per tonne (g/t) gold for 518,000 ounces, including a high-grade 208,000 ounces at 4.09g/t.
Three key separate drill intercepts include 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, respectively.
The resource, on a granted mining lease and near Northern Star’s 3.0Mt per year Jundee and Wiluna’s 2.1Mt per year gold processing plants, is shown by metallurgical testwork to be free-milling and amenable to carbon-in-leach processing, with 93-95 per cent gold recoveries.
A scoping study is underway to assess a low-capex, fast-payback mining scenario. Only about 1.2 kilometres of a 6km prospective strike has been drilled to date.
That prospective strike includes hits in BMG’s Capital North prospect, including 58m at 1.71g/t gold from 77m and 8m going 14.47g/t gold from 114m, signalling expansion potential, while its other Capital South, Archer and Barrack prospects on the same trend havedelivered 4m running 3.58g/t gold from 52m and 20m at 0.43g/t gold from 36m.
The company’s Bullabulling project, 1.5km from the 2.3-million-ounce Bullabulling gold mine acquired by Minerals 260 in 2025, has yielded shallow high-grade hits, including 2m at a healthy 18.1g/t gold from 34m, 4m going 10.12g/t gold from 32m and 12m running 2.3g/t gold from 53m.
Recent drilling, with assays due in August, targeted a tantalising north-south gold trend extending from the old Bullabulling mine into BMG’s tenure, which is also enhanced by access to extensive Coolgardie and Kalgoorlie infrastructure, including the Great Eastern Highway and trans-Australian rail system.
BMG’s Invincible project, along a 12.5km stretch of the Warrawoona Shear Zone, sits near Creasy Group’s 1.5-million-ounce Warrawoona gold mine, which was owned by Callidus Resources and acquired by the Creasy-led West Coast Gold in 2025.
Historical workings, including the Invincible mine, which produced 21.8 kilograms gold at 1600.85g/t and a 5km-long geochemical anomaly, highlight the local high-grade potential. Drilling is waiting on a heritage survey, following an agreement signed with the Nyamal Aboriginal Corporation.
BMG’s South Boddington project, currently under exploration licence applications, lies along strike from Newmont’s giant 40-million-ounce Boddington copper-gold-molybdenum deposit in the Saddleback Greenstone Belt and offers untapped potential in an underexplored region.
BMG Resources non-executive chairman John Prineas said: “We are very pleased to secure additional funds with no discount to the last closing price, ensuring minimum dilution… [with funds for] a scoping study for a potential development at Abercromby and pending exploration drill results at Bullabulling.”
With $600,000 in fresh capital, BMG is well-funded to advance its strategic assets, leveraging high-grade discoveries and proximity to world-class infrastructure.
BMG Resources’ $600,000 capital raise positions it to unlock the full potential of its Abercromby and Bullabulling projects, with other high-grade gold intercepts and strategic locations near major mines signalling robust growth prospects in WA’s diverse goldfields.
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By Doug Bright
