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BMG Resources Limited ( (AU:BMG) ) just unveiled an announcement.
BMG Resources has started a 10,000-metre resource expansion drilling campaign at its Abercromby Gold Project in Western Australia, the first major program since defining a 518,000-ounce gold mineral resource in 2023. The work is aimed at extending high-grade lodes that remain open in all directions and following up on previous standout intercepts, including thick, high-grade zones at the Capital Deposit.
The drilling will also probe underexplored hanging-wall zones where earlier work hit narrow but high-grade mineralisation that may indicate additional lodes. Beyond growing the resource, the program is designed to improve confidence in the geological model and underpin mine planning for an upcoming scoping study, supporting BMG’s strategy to establish a relatively simple, lower-risk mine plan and accelerate its progression toward gold production.
The most recent analyst rating on (AU:BMG) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on BMG Resources Limited stock, see the AU:BMG Stock Forecast page.
More about BMG Resources Limited
BMG Resources Limited is an ASX-listed gold exploration and development company focused on its 100%-owned Abercromby Gold Project in Western Australia. The company is advancing a high-grade gold mineral resource at the Capital Deposit, targeting growth and de-risking of the asset to transition from explorer to producer in a strong gold price environment.
Average Trading Volume: 16,442,399
Technical Sentiment Signal: Buy
Current Market Cap: A$44.42M
Learn more about BMG stock on TipRanks’ Stock Analysis page.