has just released some news, and so did its neighbour.

A couple of weeks ago we announced our new investment in early stage explorer BPM Minerals (ASX: BPM) and today it announced completion of a site visit, off the back of yesterday’s key drill results from neighbour Rumble Resources. $20M capped BPM recently announced plans to acquire promising lead-zinc ground near and along strike to $293M capped Rumble Resources. We promised to do a deeper dive analysis on BPM (which is coming soon) but in the last 24 hour BPM’s $293M neighbour Rumble released more drilling results which has positive implications for BPM… the news was solid but Rumble recently raised $40M at 50c - which dampened the share price reaction to around that level. Also, this morning BPM announced it has completed a site visit to the Earaheedy Basin (home to its lead-zinc project) and appointed experienced geologist Oliver Judd as exploration manager. ASX:BPM So before we send our deep dive analysis, here is our quick take on the last 24 hours for BPM. Rumble Results: Yesterday Rumble released solid results showing thick lead zinc intercepts, but not as much high grade as the initial results. Rumble recently raised $40M at 50c/share, so while the results were solid, it looks like a few of the placement participants may have been selling. The best thing about Rumble’s results yesterday (for BPM) is that it demonstrates an extensive system and reinforces the SEDEX type of deposits which could feasibly occur at other locations in the Basin… so not only on strike at BPM’s Hawkins project, but also at Ivan Well and Rhodes. According to our expert geologist, BPM’s ground appears to have all the right rocks/structure/faulting that has been highlighted by Rumble in their last announcement which in their opinion overall enhances BPM’s ground. From Rumbles announcement yesterday: SEDEX deposits are a big deal for lead and zinc explorers. SEDEX deposits account for 25% of the world’s lead and zinc production, and they hold more than 50% of the world's lead zinc resources. They form Giant and Super Giant Tier 1 deposits, and 6 of the 10 largest zinc mines globally are SEDEX style deposits. So if you can find a new one - they can prove to be extremely valuable. So what is a “SEDEX deposit” and why is it big news for BPM? (Apologies in advance to any geologists out there for this over simplification). A SEDEX deposit occurs when mineralising fluids push upwards in the ground combined with heat - this push occurs in specific basins/faults (like the Earaheedy basin for example). SEDEX is short for sedimentary exhalative and are host to some of the largest zinc accumulations worldwide. The nature of a SEDEX formation is that mineralisation appears in clusters, so if you find one, it is likely there will be more nearby in similar rock formations with a basin. This is why Rumble’s latest news bodes very well for BPM, who has THREE tenements in the same basin AND the same rock formations on what Rumble now reckons looks like a SEDEX lead zinc deposit. So Rumble might have stumbled onto a giant SEDEX Lead-Zinc Deposit, which means that the deposit might extend to the entire Earaheady basin - which is great news for $20M BPM if they can get a hit on their upcoming drill campaign. BPM site visit to Earaheedy Basin BPM today released news of a completed site visit out to the Earaheedy Basin, where the CEO Chris Swallow and newly appointed exploration manager Oliver Judd identified the exact rock formations that are analogous to Rumble’s lead zinc discovery. BPM reports that it found the same “stratigraphic units and unconformity” as Rumble’s Chinook discovery at BPM’s Hawkins ground. While to the untrained eye (including ours) this photo pretty much just looks like a dude standing on some dirt, it’s actually on the exact geological formation in the same basin as where Rumble found their multi hundred million dollar SEDEX lead zinc discovery: Here is a video of the visit: