05th Mar 2024: BMG Resources Limited (ASX:BMG) has today announced promising results from its ongoing exploration review of the Dragon Project neighbouring WA1 Resources’ site in the West Arunta region of Western Australia.
This discovery is particularly exciting given:
· BMG’s Dragon Niobium-REE Project is immediately adjacent to and shares a 30km-long border with the West Arunta Project of WA1 Resources (ASX: WA1) where it has made the world-class Luni Niobium-REE discovery
· Multiple targets showing structural and magnetic features have been identified at the Dragon Project – features similar to those that represent mineralised carbonatites at WA1’s ground and at the nearby Aileron Project of Encounter Resources (ASX: ENR)
· BMG’s Project has a total tenement area of 1,470 sq km – one of the largest landholdings in the West Arunta, positioning BMG as a major player in this emerging world-class mineral field
John Prineas, BMG’s Non-Executive Chairman has said:
“Our ongoing review of exploration data for the West Arunta region has delivered very positive findings with geological features identified at our Dragon Niobium-REE Project which show similarities to the geological setting for Luni and other mineralised carbonatites in the region.
Several coincident structural and magnetic features, often with a supporting elevated gravity feature, have been identified across the Dragon Project area – this is a textbook signature for mineralised carbonatites. Importantly, these targets are located along or near structures that could have served as conduits for potential carbonatite intrusions.”
BMG’s Dragon Project represents a large, contiguous landholding of 1,470 sq km – a project of impressive scale and strategically well-located near successful explorers.