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BMG Resources Limited ( (AU:BMG) ) has provided an update.
BMG Resources has commenced diamond drilling as part of a 10,000-metre, round-the-clock resource development program at its Abercromby Gold Project in Western Australia, following completion of reverse circulation pre-collars on seven holes. The campaign aims to extend the existing 518,000-ounce gold resource at the Capital Deposit, which remains open at depth and along strike, with initial assay results expected within four to five weeks.
The drilling is designed to test continuity and potential expansion of high-grade lodes within a structurally controlled gold system, in line with geological models seen at other major ductile gold deposits in the region. Alongside the drilling, BMG is finalising a Scoping Study that will assess the economics of a potential mining operation leveraging near-surface, open-pittable resources, strong metallurgical recoveries, and nearby processing options, with the outcome expected to underpin mine planning and reinforce Abercromby’s path toward near-term production.
The company has also called a shareholder meeting to vote on a proposed name change to WA Gold Limited, underscoring its strategic focus on Western Australian gold assets. Management emphasises a measured approach to resource growth and capital allocation aimed at building project value and supporting sustained share price appreciation.
The most recent analyst rating on (AU:BMG) stock is a Hold with a A$0.02 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 Australian gold exploration and development company focused on its 100%-owned Abercromby Gold Project in Western Australia. The company is targeting advancement of its 518,000-ounce gold Mineral Resource, located on a granted mining lease within an established mining region and supported by access to nearby third-party processing infrastructure.
Average Trading Volume: 18,228,577
Technical Sentiment Signal: Sell
Current Market Cap: A$30.85M
See more insights into BMG stock on TipRanks’ Stock Analysis page.